The fastest- and slowest-selling new and used cars in today’s market

Used cars are selling faster than new cars as consumer fatigue with pricing impacts sales, with the average used car selling in 49 days (6.1% faster than last year), while new cars are selling 25.7% slower; electric vehicles (EVs) now take twice as long to sell despite price drops, with the Tesla Model S being the slowest-selling used EV at an average of 88.3 days to sell, and the Honda HR-V being the fastest-selling new car at an average of 34.4 days to sell.

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Relevant topic timeline:

8/27/2023

Experts are witnessing a strange new phenomenon in the demand for electric cars: ‘We call it the ‘Field of Dreams’ moment’

Huge price reductions and increased availability are driving growth in the electric vehicle market, which saw record sales in 2023, as major manufacturers like Tesla, Ford, and General Motors lower their prices and pass on cost savings from raw materials to consumers.

9/5/2023

These Are the 10 Fastest-Selling New Cars on the Market: See How Much They Cost

The average time a new car stays on the lot has increased to 22.7 days, but some models, such as the Toyota Grand Highlander Hybrid, are selling in just 9.2 days.

9/10/2023

Tesla Developing $25,000 Electric Car with New Batteries Enabling Lower Cost and Higher Range

Tesla is set to release a new $25,000 electric car, potentially revolutionizing the world of EVs with its affordable price and expected range of 250-300 miles on a single charge.

9/18/2023

EVs Hit Adoption Tipping Point, But Gas Cars Still Dominate as Infrastructure Lags

Once electric vehicle adoption reaches 5-10 percent of new car sales, researchers predict that a significant surge in sales will occur, potentially reaching up to 80 percent of new sales, as early adopters are replaced by mainstream consumers looking for a good deal; however, a hesitant American public and inadequate charging infrastructure may hinder the country's progress in this transition.

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Posted 9/2/2023, 2:02:11 PM