Tesla Dominates Fastest-Selling Used Car List
A new study out this month that tracks how quickly used cars are sold shows that Tesla has the number one vehicle on the list. Furthermore, every Tesla for which used vehicle inventory exists is also among the top-10-fastest-selling vehicles.
iSeeCars analyzed nearly one million new and used cars sold in August 2021. iSeeCars.com found that the average new car takes 26 days to sell, and the average used car takes 34.6 days to sell. Both new and used cars are selling faster now than one month ago.
“The microchip shortage is showing no signs of slowing down as major automakers continue to halt production, leading to lower and sometimes scarce inventory levels, especially for the most in-demand vehicles,” said iSeeCars Executive Analyst Karl Brauer. “It looks like car buyers who were initially waiting for prices to drop have embraced the reality that inventory shortages are here to stay, at least for the next several months.”
iSeeCars found that the fastest-selling used car is the midsize Tesla Model 3 sedan for the third consecutive month. Tesla’s Model S super-sedan and the Model X minivan also made the top-10 list, which is evenly split between alternative-fuel and conventional vehicles.
“The Tesla Model 3 has remained popular since its highly anticipated debut, thanks to its impressive technology and performance at a relatively affordable price compared to Tesla’s earlier vehicles,” said Brauer. “A new version of the Model 3’s Standard Range Plus variant is sold out for the remainder of 2021 to further add to the already-high demand for used versions, some of which are being sold at higher prices than new versions .” Two additional Teslas make the list, the Model S and the Model X. “Tesla continues to see record sales growth for its new vehicles, and demand for used Tesla models is on the rise as well.”
The Tesla Model Y midsize crossover is not on this list simply because the vehicle is too new. There has not been ample time for the vehicle to enter the used vehicle market yet.
Seven hybrid vehicles make the list of the top-20 fastest-selling used vehicles. These include the Toyota Highlander Hybrid, the Toyota Prius, the Honda Insight, the Toyota RAV4 Hybrid, the Lexus RX 450h, the Toyota Prius Prime, and the Honda Clarity Plug-In Hybrid. “Just like in the new car marketplace, Toyota hybrid vehicles are hot sellers due to their reliability and advanced technology,” said Brauer. “The Honda Clarity debuted in 2018, while the Honda Insight debuted in 2019, so used versions are just now becoming available and are in high-demand.”
To see the full study report please check out the iSeeCars website. Clearly, electrified vehicles of all types are among the most desired by American used vehicle shoppers.
John Goreham is a long-time New England Motor Press Association member and recovering engineer. John's interest in EVs goes back to 1990 when he designed the thermal control system for an EV battery as part of an academic team. After earning his mechanical engineering degree, John completed a marketing program at Northeastern University and worked with automotive component manufacturers, in the semiconductor industry, and in biotech. In addition to Torque News, John's work has appeared in print in dozens of American news outlets and he provides reviews to many vehicle shopping sites. You can follow John on TikTok @ToknCars, on Twitter, and view his credentials at Linkedin