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The Fastest-Selling New and Used Cars in April
What were the most in-demand new and used cars in April?
Via https://www.iseecars.com/fastest-selling-cars-study
May 25, 2021
Analyzing over 1.3 million new and used cars sold in April 2021, iSeeCars.com found that overall, the average new car takes 48.3 days to sell and the average used car takes 37.4 days to sell. New cars are selling slightly slower compared with March’s 47.4 day average, while used cars are selling faster in April compared with March’s 39.4 day average.
Although the average new car selling time remained relatively consistent in April compared to March, available new car inventory dropped through the month. “The microchip shortage is showing up as a clear constriction to new car supply, as we've seen a 16.6% drop in new car inventory over just the past four weeks from April to May," said iSeeCars Executive Analyst Karl Brauer. “The significant decrease in inventory suggests demand continues to outpace supply, and these hot sellers will likely be even more difficult to find in the coming months.”
Fastest-Selling New Cars
iSeeCars identified the top 20 fastest-selling new cars, which sell 2.4 to 5.3 times faster than the average new vehicle and average 16.2 days on dealers’ lots. SUVs comprise the vast majority of the top 20 list, and hybrid vehicles also account for seven models on the list.
The fastest-selling new vehicle is the Chevrolet Corvette, which takes on average 9.2 days to sell, nearly four days faster than its February selling time. “The new mid-engine Corvette is the fastest-selling new car for the third consecutive month,” said Brauer. “The Corvette C8 has been in short supply since its 2020 debut due to overwhelming demand and multiple production setbacks, forcing General Motors to stop taking orders for the 2021 model.”
The all-new Jeep Wrangler 4xe, the plug-in hybrid version of the popular Wrangler that recently arrived in dealerships, makes its debut on the list as the second fastest-selling new vehicle. “The successful debut of the Jeep Wrangler 4xe shows there is a demand for a more efficient version of the off-road performance-oriented Wrangler,” said Brauer. “Jeep has a loyal customer base, and new models are typically in high demand, so it will be interesting to see if Jeep loyalists continue to embrace the lineup’s first electrified vehicle.”
Six additional hybrid vehicles make the list including the Hyundai Santa Fe Hybrid, the Toyota RAV4 Prime plug-in hybrid, the Hyundai Elantra hybrid, the Lexus RX 450h hybrid, the Toyota RAV4 Hybrid, and the Kia Sorento Hybrid. “Two Korean hybrid vehicles make their debut on the list including the recently released Hyundai Santa Fe Hybrid and the Kia Sorento Hybrid, which is also new for the 2021 model year,” said Brauer. “They join other high-demand hybrid vehicles that have maintained their positions as the fastest-selling vehicles--most notably the RAV4 Prime and RAV4 Hybrid, continuing the ongoing trend of Toyota struggling to produce enough hybrid vehicles to meet demand. Toyota has already exceeded its projection for RAV4 Prime deliveries this year.”
Making its debut on the list is the newly released Kia Carnival, which is billed as a multipurpose vehicle and replaces the Kia Sedona minivan in its lineup. “The Carnival has the function of a minivan with sliding doors and three rows of expansive cargo space, but also takes design cues from the Telluride SUV in hopes of emulating its success,” said Brauer. “The Carnival is loaded with premium features and positions itself as a ‘premium people mover’ to attract drivers who are averse to traditional minivans.”
The Kia Telluride midsize SUV maintains its position as a hot-seller for the fourth consecutive month. “Kia is still struggling to keep up with the demand for the Telluride two years after its launch, and a two-day halt in production in April led to an almost 20 percent reduction in inventory to further heighten its demand,” said Brauer. “Dealers continue to charge above MSRP because consumers are willing to pay a premium for this vehicle, and demand is showing no signs of slowing down.”
Two Toyota pickup trucks make the list--the Toyota Tacoma and the Toyota Tundra. “The Tacoma has been a fastest-seller for four consecutive months, while the Tundra has been among the fastest sellers for two,” said Brauer. “Toyota has halted incentives in many parts of the country due to the high demand for these trucks and the lowered supply due to the microchip shortage.”
The full-size Cadillac Escalade and its extended variant, the Escalade ESV, appear on the fastest-selling list of new cars for the third consecutive month. “The Escalade was redesigned for 2021 to make the already supersized SUV even larger and more luxurious, leading to a 75 percent sales increase in the first quarter of 2021 over last year,” said Brauer. “Cadillac removed incentives for these vehicles in April, and production has yet to be affected as the automaker has prioritized these vehicles over less popular models.”
Three additional full-size SUVs from General Motors make the list for the second consecutive month including the GMC Yukon, the GMC Yukon XL, and the Chevrolet Tahoe. “General Motors is one of the manufacturers most impacted by the semiconductor shortage, but production interruptions have not affected the manufacturer’s high-profit, full-size SUVs,” said Brauer.
What were the most in-demand new and used cars in April?
Via https://www.iseecars.com/fastest-selling-cars-study
May 25, 2021
- The Chevrolet Corvette leads the list of fastest-selling new vehicles for the fourth consecutive month
- Newly released Jeep Wrangler 4xe and Hyundai Santa Fe Hybrid join growing list of in-demand hybrid vehicles
- Recently released Kia Carnival and new for 2021 Kia Sorento Hybrid join the Telluride as in-demand Kia vehicles
- Sporty and luxury vehicles dominate fastest-selling used car list
Analyzing over 1.3 million new and used cars sold in April 2021, iSeeCars.com found that overall, the average new car takes 48.3 days to sell and the average used car takes 37.4 days to sell. New cars are selling slightly slower compared with March’s 47.4 day average, while used cars are selling faster in April compared with March’s 39.4 day average.
Although the average new car selling time remained relatively consistent in April compared to March, available new car inventory dropped through the month. “The microchip shortage is showing up as a clear constriction to new car supply, as we've seen a 16.6% drop in new car inventory over just the past four weeks from April to May," said iSeeCars Executive Analyst Karl Brauer. “The significant decrease in inventory suggests demand continues to outpace supply, and these hot sellers will likely be even more difficult to find in the coming months.”
Fastest-Selling New Cars
iSeeCars identified the top 20 fastest-selling new cars, which sell 2.4 to 5.3 times faster than the average new vehicle and average 16.2 days on dealers’ lots. SUVs comprise the vast majority of the top 20 list, and hybrid vehicles also account for seven models on the list.
The fastest-selling new vehicle is the Chevrolet Corvette, which takes on average 9.2 days to sell, nearly four days faster than its February selling time. “The new mid-engine Corvette is the fastest-selling new car for the third consecutive month,” said Brauer. “The Corvette C8 has been in short supply since its 2020 debut due to overwhelming demand and multiple production setbacks, forcing General Motors to stop taking orders for the 2021 model.”
The all-new Jeep Wrangler 4xe, the plug-in hybrid version of the popular Wrangler that recently arrived in dealerships, makes its debut on the list as the second fastest-selling new vehicle. “The successful debut of the Jeep Wrangler 4xe shows there is a demand for a more efficient version of the off-road performance-oriented Wrangler,” said Brauer. “Jeep has a loyal customer base, and new models are typically in high demand, so it will be interesting to see if Jeep loyalists continue to embrace the lineup’s first electrified vehicle.”
Six additional hybrid vehicles make the list including the Hyundai Santa Fe Hybrid, the Toyota RAV4 Prime plug-in hybrid, the Hyundai Elantra hybrid, the Lexus RX 450h hybrid, the Toyota RAV4 Hybrid, and the Kia Sorento Hybrid. “Two Korean hybrid vehicles make their debut on the list including the recently released Hyundai Santa Fe Hybrid and the Kia Sorento Hybrid, which is also new for the 2021 model year,” said Brauer. “They join other high-demand hybrid vehicles that have maintained their positions as the fastest-selling vehicles--most notably the RAV4 Prime and RAV4 Hybrid, continuing the ongoing trend of Toyota struggling to produce enough hybrid vehicles to meet demand. Toyota has already exceeded its projection for RAV4 Prime deliveries this year.”
Making its debut on the list is the newly released Kia Carnival, which is billed as a multipurpose vehicle and replaces the Kia Sedona minivan in its lineup. “The Carnival has the function of a minivan with sliding doors and three rows of expansive cargo space, but also takes design cues from the Telluride SUV in hopes of emulating its success,” said Brauer. “The Carnival is loaded with premium features and positions itself as a ‘premium people mover’ to attract drivers who are averse to traditional minivans.”
The Kia Telluride midsize SUV maintains its position as a hot-seller for the fourth consecutive month. “Kia is still struggling to keep up with the demand for the Telluride two years after its launch, and a two-day halt in production in April led to an almost 20 percent reduction in inventory to further heighten its demand,” said Brauer. “Dealers continue to charge above MSRP because consumers are willing to pay a premium for this vehicle, and demand is showing no signs of slowing down.”
Two Toyota pickup trucks make the list--the Toyota Tacoma and the Toyota Tundra. “The Tacoma has been a fastest-seller for four consecutive months, while the Tundra has been among the fastest sellers for two,” said Brauer. “Toyota has halted incentives in many parts of the country due to the high demand for these trucks and the lowered supply due to the microchip shortage.”
The full-size Cadillac Escalade and its extended variant, the Escalade ESV, appear on the fastest-selling list of new cars for the third consecutive month. “The Escalade was redesigned for 2021 to make the already supersized SUV even larger and more luxurious, leading to a 75 percent sales increase in the first quarter of 2021 over last year,” said Brauer. “Cadillac removed incentives for these vehicles in April, and production has yet to be affected as the automaker has prioritized these vehicles over less popular models.”
Three additional full-size SUVs from General Motors make the list for the second consecutive month including the GMC Yukon, the GMC Yukon XL, and the Chevrolet Tahoe. “General Motors is one of the manufacturers most impacted by the semiconductor shortage, but production interruptions have not affected the manufacturer’s high-profit, full-size SUVs,” said Brauer.
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