Toyota RAV4 Prime Is 2nd-Fastest-Selling Vehicle In America
A new study by iSeeCars.com ranking vehicles by which sells fastest puts the Toyota RAV4 Prime in the number two position behind the Chevrolet Corvette. The RAV4 Prime is the only plug-in electric vehicle on the top-ten list of fastest-selling new vehicles. Read our review of the Toyota RAV4 Prime here.
The study by iSeeCars.com includes the conclusion, "Alternative fuel vehicles, led by Toyota and Lexus models as well as multiple newly-released models, are rising in demand in both the new and used market and sell faster than the average car." This is certainly true in the case of the Toyota RAV4 Prime plug-in hybrid-electric vehicle. One reason for the model's quick turnaround times is that it is limited in its distribution. The RAV4 Prime has been on sale for less than a year. Although Toyota's launch of the RAV4 Prime was one of the strongest in EV history in terms of product availability, demand is outstripping supply. Toyota is presently only selling this model in the ZEV-friendly states that support EV adoption.
To keep pace with the unprecedented demand, Toyota has exceeded its initial projections for the model's volume, and recently boosted deliveries. Toyota plans to expand the model's market availability in the US and ramp up production mid to late summer. “The RAV4 Prime is a brand new model that had a limited production in its first year and was just delivered to select states,” said iSeeCars Executive Analyst Karl Brauer. “Battery supply constraints caused demand to dramatically outpace supply, so much so that dealers were marking the vehicle up to $10,000 above MSRP.”
“March was a strong month for auto sales as consumers received their government stimulus checks and are likely looking to purchase vehicles ahead of anticipated inventory constraints from computer chip shortages,” said Brauer. “While the demand for large SUVs and luxury vehicles has continued for the third consecutive month, many alternative fuel vehicles debuted on the list as gas prices continue to rise.”
The Toyota RAV4 Hybrid, Ford F-150 Hybrid, and Hyundai Elantra Hybrid also found spots on the iSeeCars top-sellers list for new cars. The Lexus RX 450H hybrid found a spot on the list of top-selling used cars.
In its research, iSeeCars.com analyzed over 1.5 million new and used car sales from March 2021. You can view the complete iSeeCars.com study here for more insights.
John Goreham is a long-time New England Motor Press Association member and recovering engineer. Following his engineering program, John also completed a marketing program at Northeastern University and worked with automotive component manufacturers. In addition to Torque News, John's work has appeared in print in dozens of American newspapers and he provides reviews to many vehicle shopping sites. You can follow John on Twitter, and view his credentials at Linkedin