The COVID-19 pandemic financially crippled the automotive industry. It took until near the end of 2020 for it to stage a nearly complete recovery. So far in 2021, many manufacturers have been on a course to have a record year. However, a shortage of the semiconductors utilized in auto electrical systems has temporarily ended the production of many models. In turn, this has pushed both new and used car prices through the roof. Some models are so scarce their inventory has moved toward zero.
One means to measure model demand is what experts call “days to sell.” It is based on how long a car stays on a dealer lot after it is delivered from the manufacturer. The industry average in April was 48.3 days. Only one car had an average of less than 10 days in April, the Chevy Corvette. The Corvette has been Chevy’s flagship sports car since 1953. It has been through what the industry calls eight major “generations,” which are near complete overhauls of the model. The most recent one was launched in 2020.
iSeeCars has tracked days to sell in a review of 1.3 million new and used cars sold last month. Given Corvette’s recent track record, iSeeCars Executive Analyst Karl Brauer commented: “The fastest-selling new vehicle is the Chevrolet Corvette, which takes on average 9.2 days to sell, nearly four days faster than its February selling time. The new mid-engine Corvette is the fastest-selling new car for the third consecutive month.” To make matters worse for potential buyers, he adds that GM has stopped taking orders for the 2021 model.
The base price for the Corvette (for anyone who can find one) is $59,900. The Corvette has 495 horsepower and can go from 0 to 60 miles per hour in 2.9 seconds. It has a top speed of 194 miles per hour. With accessories, the price of the convertible model rises to over $90,000.
Most of the other cars and light trucks with low days to sell figures are sport utility vehicles, pickups and crossovers. This is not unusual. These have replaced sedans as the most popular vehicles for American over the past decade
Here are the 20 fastest-selling new cars in America in April:
|Vehicle||Average Days to Sell|
|Jeep Wrangler 4xe||10.5|
|Hyundai Santa Fe Hybrid||12.8|
|Lexus IS 350||13.4|
|Toyota RAV4 Prime||13.7|
|GMC Yukon XL||17.7|
|Cadillac Escalade ESV||18.3|
|Hyundai Elantra (Hybrid)||19.8|
|Lexus RX 450h||20.5|
|Toyota RAV4 Hybrid||21.0|
|Kia Sorento Hybrid||21.0|