As the U.S. auto market recovers from a difficult 2020, many dealers are struggling to keep their lots stocked with new cars. In July, the average new car took 35 days to sell — nearly a full week faster than in June.
This quick turnaround is due in part to the microchip shortage and the resulting manufacturers’ inability to supply dealerships with new cars. iSeeCars Executive Analyst Karl Brauer said, “production interruptions lower the new car and used car supply and dealers are forced to maintain tight inventory levels.” While cars typically take over a month to sell, there are 20 new vehicles that lasted less than two weeks on dealer lots in July — and one that, on average, sold in just a week.
To determine the fastest selling cars, 24/7 Wall St. reviewed data from car search engine iSeeCars on the new vehicles with the lowest average days to sell in July 2021.
Most of the fastest selling new cars in America are SUVs, many of which are hybrid models. SUVs have spiked in popularity in large part because of their safety and cargo space. Hybrid sales have also increased recently, as they offer a more environmentally conscious alternative to gas-powered vehicles. These are the most eco-friendly cars on the market.
Toyota has capitalized on the surge in demand for hybrids and SUVs. Of the 20 fastest-selling cars in America, eight are Toyotas with two from its luxury division Lexus — nearly all of which are either SUVs, hybrids, or both. There are five different Hyundai-Kia models on the list as well.