Tesla Model 3 Electric Vehicle Is the Fastest-Selling Used Car
Tesla’s Model 3 battery-electric sedan is America’s fastest-selling used vehicle. This is according to iSeeCars.com’s monthly rundown of the vehicles that are the hottest selling in both new and used categories. “The microchip shortage continues to impact new and used car sales as production interruptions lower the new car and used car supply and dealers are forced to maintain tight inventory levels,” said iSeeCars Executive Analyst Karl Brauer. “The faster selling time of new cars suggests that new car supply continues to outpace demand, while demand for used cars has stabilized, likely because of elevated prices.”
Tesla Model 3 Average Selling Days
The average used car takes 35.4 days to sell, but the Model 3 sells on average in less than half that time at 16 days. This is the fifth month in a row that the Model 3 has appeared on the top-20 list of fastest-selling used cars in America. “The Tesla Model 3 has remained popular since its high-profile debut, thanks to impressive technology and performance, plus a relatively affordable price compared to Tesla’s earlier vehicles,” said Brauer. “Used Model 3’s are so popular that consumers are willing to purchase used versions at higher prices than new versions .” Two additional Teslas make the list, including 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.”
Green Vehicles Are Hot
Fully half of the fastest-selling used vehicles are green vehicles. Three Toyota hybrids, three Tesla battery-electric cars, the Chevy Bolt BEV, and the BMW i3 EV all make this list, as does the Honda Insight and Clarity. “The Honda Clarity debuted in 2018, while the Honda Insight debuted in 2019, so used versions are just now becoming available,” said Brauer. “Both new and used hybrid vehicles have been in high demand, and that demand has intensified as gas prices rise.”
Green vehicles also do quite well on the fastest-selling new cars list. To see the full report, check out the iSeeCars study summary page.
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