Popular new and used cars aren't selling as fast this year as they were one year ago, according to the latest research from iSeeCars.com Researchers say consumer fatigue with new and used car pricing is impacting their rate of sales, as consumers look outside mainstream models to find lower prices. Currently:
The average used car sells in 49 days, which is 6.1 percent faster than a year ago, but new cars have slowed by 25.7 percent.
Hottest new model on the market:
The Toyota Grand Highlander Hybrid is the fastest-selling new model right now spending an average of just 9.2 days on the lot.
Currently, the Tesla Model S is the slowest selling used car - spending an average of 88.3 days on a dealer lot before being sold. The Jeep Cherokee is the slowest-selling new car - taking an even longer 128.7 days on lots before being driven off by a new owner.
“Dealers and manufacturers have typically targeted 60 days as the time to sell a vehicle, though that number dropped dramatically during Covid due to shortages in new and used car supply,” said iSeeCars Executive Analyst Karl Brauer. “The 10 slowest selling used cars are now all above 60 days, while the 10 slowest selling new cars are all above 87 days, confirming the shift back to a normal, if not excessive, supply of cars on dealer lots.”
Top 10 Slowest-Selling Used Cars – iSeeCars Study |
|||
Rank |
Model |
Avg. Days on Market |
Avg. Price |
1 |
Tesla Model S |
88.3 |
$65,216 |
2 |
Buick Envision |
82.3 |
$29,057 |
3 |
Ford Mustang Mach-E |
75.8 |
$42,503 |
4 |
Land Rover Discovery Sport |
73.6 |
$30,206 |
5 |
Cadillac XT4 |
71.9 |
$31,650 |
6 |
Tesla Model X |
71.4 |
$70,835 |
7 |
Land Rover Range Rover |
68.4 |
$75,060 |
8 |
Chevrolet Blazer |
65.9 |
$31,644 |
9 |
Chrysler 300 |
64.7 |
$25,021 |
10 |
Buick Enclave |
64.3 |
$32,075 |
Top 10 Slowest-Selling New Cars – iSeeCars Study |
|||
Rank |
Model |
Avg. Days on Market |
Avg. Price |
1 |
Jeep Cherokee |
128.7 |
$39,238 |
2 |
Land Rover Discovery Sport |
119.4 |
$53,422 |
3 |
Buick Envision |
117.0 |
$39,917 |
4 |
Ford Mustang |
108.6 |
$56,670 |
5 |
Mazda MX-5 Miata |
107.3 |
$34,543 |
6 |
Lincoln Aviator |
105.1 |
$69,283 |
7 |
Nissan LEAF |
95.2 |
$32,770 |
8 |
Ford Edge |
93.6 |
$42,746 |
9 |
Nissan Murano |
88.7 |
$45,130 |
10 |
INFINITI QX80 |
87.2 |
$82,847 |
The fastest-selling used car right now is the Honda HR-V, followed by the Acura ILX and Toyota Highlander Hybrid. The fastest-selling new cars are the new Toyota Grand Highlander Hybrid, Land Rover Range Rover and the Toyota Grand Highlander.
Top 10 Fastest-Selling Used Cars – iSeeCars Study |
|||
| Rank | Model | Avg. Days on Market | Avg. Price |
1 |
Honda HR-V |
34.4 |
$24,496 |
2 |
Acura ILX |
35.3 |
$26,091 |
3 |
Toyota Highlander Hybrid |
36.6 |
$42,119 |
4 |
Acura RDX |
36.8 |
$35,864 |
5 |
Hyundai Venue |
38.0 |
$19,764 |
6 |
Honda Insight |
38.3 |
$24,567 |
7 |
Honda CR-V |
38.5 |
$28,660 |
8 |
Honda Civic |
38.8 |
$24,619 |
9 |
Toyota C-HR |
38.9 |
$23,462 |
10 |
Toyota Sienna (hybrid) |
39.1 |
$44,233 |
Top 10 Fastest-Selling New Cars – iSeeCars Study |
|||
Rank |
Model |
Avg. Days on Market |
Avg. Price |
1 |
Toyota Grand Highlander Hybrid |
9.2 |
$56,396 |
2 |
Land Rover Range Rover |
10.4 |
$149,241 |
3 |
Toyota Grand Highlander |
10.7 |
$53,705 |
4 |
GMC Yukon |
19.7 |
$82,342 |
5 |
Lexus NX 350h |
19.7 |
$51,510 |
6 |
Kia Forte |
21.0 |
$23,867 |
7 |
Subaru Crosstrek |
21.8 |
$31,250 |
8 |
BMW X1 |
22.1 |
$46,310 |
9 |
Toyota Corolla |
22.6 |
$24,819 |
10 |
Toyota Sienna (hybrid) |
22.9 |
$51,170 |
EV sales have sold to a crawl - even with the big price drops we've seen over the past year. New EVs are spending 25.2 to 50 days to sell over the past year. The news is even worse for used EVs which are selling even slower. They're on the lot an average of 57.8 days currently. Compare that to 26.4 days a year ago, a 120 percent increase.