For the first time since 2010, the number of automobiles sold in America dropped in 2017. Americans were more willing to hold on to older vehicles than in previous years, leading to a 1.8% dip in sales compared to 2016.
The trend of shifting consumer tastes from sedans and coupes to SUVs has been even more pronounced in 2017. As Tim Fleming, an analyst at Kelley Blue Book, told 24/7 Wall St. in an interview, “People don’t want big entry luxury cars. They want crossovers, they want SUVs right now.”
As car sales have declined, SUVs and crossovers have become the biggest growth area in the automotive marketplace. Car sales dropped about 10% over the last year, even as crossover and small SUV sales jumped by 18.2% and 27.9%, respectively.
Some of these models are so popular, dealers have a hard time keeping them in stock. The number of days it takes to sell a car, also known as days to turn, is a way to measure how certain cars are performing against manufacturer expectations. It can also provide insight into the struggles of a company and the auto industry as a whole.
24/7 Wall St. reviewed data provided by Kelley Blue Book to determine which types of vehicles sold the quickest in 2017.
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