How quickly or slowly a used vehicle leaves a dealer’s lot has an effect on how much a particular model is worth. American-made cars and luxury sport utility vehicles take the longest to sell, while all-electric and hybrid-electrics sell quickest.
On average, a late-model used car takes 46.4 days to sell. The slowest-selling vehicle is a Porsche Cayenne SUV that sits on a dealer’s lot for an average of 67.8 days. The Toyota Prius C, a hybrid-electric, sells in an average of 29.6 days.
There’s a message to buyers in these numbers says iSee Cars.com CEO Phong Ly:
It’s important to know how long vehicles stay on dealer lots because slower-moving cars can present negotiation opportunities for consumers. Cars that remain on market for longer than average indicate that supply is higher than demand, which could mean the pricing is too high or that the car isn’t as well-liked as its competitors.
And if you’re trading in your current car on a new vehicle, knowing how fast it sells could help you get a higher trade-in value. After all, dealers want to turn over their inventory as quickly as possible in order to maximize their profit.
Here’s the list of the 10 slowest-selling late-model (one to three model years old) vehicles according to iSeeCars.
Half the vehicles on this list are luxury models: the Porsche Cayenne and 911, the Land Rover Discovery Sport, the Cadillac XT5 and the Lincoln MKX. The Porsche 911 is the most expensive used car at $122,124, and it’s likely to be the scarcest. Of the other five vehicles on this list, four are American-made (two Buicks and two Fords).
Here are the 10 late-model used vehicles that sell the fastest.
Five of the fastest selling used vehicles are electrified: the Toyota Prius C and Prius, the Tesla Model S, the BMW i3 and the Chevy Volt. The other five are all foreign-made.
Buying an electrified car used helps offset the average 20% premium buyers have to pay for a new electric car. The Tesla Model S, considered a luxury car, is an exception. In this case, used Teslas are scarce and demand far outstrips supply.
iSeeCars has also analyzed the fastest and slowest-selling SUVs and the average days on the market for used pickups. The only American-made car to make the fastest selling SUV list was the Jeep Cherokee. On average, a used pickup is on the market for nearly 51 days and the used pickup that sells fastest is the Honda Ridgeline.
Visit the iSeeCars website for more comparisons, charts, and complete methodology.