The Fastest-Selling New and Used Cars in July

• The Chevrolet Corvette regains its fastest-selling new vehicle claim

• Toyota/Lexus vehicles account for half the fastest-selling new vehicle list, followed by Hyundai-Kia models with five vehicles

• Hybrid vehicles are well-represented on both new and used car lists, while EVs only appear on the new car list

The latest iSeeCars.com analysis found that the fastest-selling new car during the month of July was the Chevrolet Corvette, which returns to the list after a month hiatus. The fastest-selling used car is the Tesla Model 3, with the Tesla Model S and the Tesla Model X also making a list that is evenly split between alternative-fuel and conventional vehicles.

Analyzing over one million new and used cars sold in July 2021, iSeeCars.com found that overall, the average new car takes 35 days to sell and the average used car takes 35.4 days to sell. New cars are selling nearly a week faster than in June, when the average was 41.7 days, and used cars are selling slightly slower compared to 34.5 days averaged over the same period.

“The microchip shortage continues to impact new and used car sales as production interruptions lower the new car and used car supply and dealers are forced to maintain tight inventory levels,” said iSeeCars Executive Analyst Karl Brauer. “The faster selling time of new cars suggests that new car supply continues to outpace demand, while demand for used cars has stabilized, likely because of elevated prices.”

Fastest-Selling New Cars

iSeeCars identified the top 20 fastest-selling new cars, which sell 2.6 to 5.0 times faster than the average new vehicle and average 12.2 days on dealers’ lots. SUVs comprise the vast majority of the top 20 list, and hybrid vehicles account for six models.

The fastest-selling new vehicle is the Chevrolet Corvette, which sells in seven days. “Demand for the mid-engine Chevrolet Corvette has exceeded supply since its launch for the 2020 model year,” said Brauer. “Dealers stopped taking orders for the 2021 model year in March, and demand remains so high that dealers are marking Corvettes up tens of thousands over MSRP.”

Eight Toyotas and two vehicles from its Lexus luxury division make the list, with hybrid vehicles accounting for five models. The non-hybrid vehicles include three SUVs: the midsize 4Runner, the compact RAV4, and the subcompact CH-R, as well as the Toyota Tacoma pickup truck and the Lexus IS 350 compact sedan. “While Toyota has better managed the microchip shortage than most automakers, it maintains a tight inventory, especially for its popular models,” said Brauer. The hybrid vehicles include the Toyota Sienna minivan, the Lexus RX 450h midsize SUV, the Toyota RAV4 Hybrid compact SUV, the Toyota Corolla Hybrid compact sedan, and the Toyota RAV4 plug-in hybrid compact SUV. “Hybrid vehicles have surged in popularity and have grown in sales faster than electric vehicles, perhaps as a stepping stone to an all-electric future,” added Brauer. “Toyota has been a pioneer for hybrid technology over the past 20 years, and consumers have embraced the hybrid versions of Toyota’s popular cars and SUVs.”

An additional hybrid, the Hyundai Tucson Hybrid, makes the list to maintain its position as a hot seller for the third consecutive month since its May debut. It’s joined by four additional models from the Hyundai-Kia automotive group, including the Kia Telluride, the Kia Seltos, the Hyundai Palisade, and the Kia Carnival. “The popularity of the recently released Hyundai Tucson Hybrid and the Kia Carnival shows that the public perception of Hyundai and Kia vehicles has evolved from being budget-oriented to competing with more premium mainstream and even luxury brands,” said Brauer. “Demand for the Kia Telluride has outpaced supply since its 2019 launch, and its success has helped boost the similar Hyundai Palisade and the subcompact Kia Seltos, both of which have similar styling.”

The full-size Cadillac Escalade appears on the fastest-selling list of new cars for the sixth consecutive month. “The Escalade was redesigned for 2021 to make the premium SUV even more luxurious and technologically advanced, helping it dominate the full-size SUV segment as it captures over half of the segment’s market share,” said Brauer.

Two additional redesigned full-size SUVs from General Motors make the list, including the GMC Yukon and the Chevrolet Tahoe. “Consumer demand remains strong for full-size SUVs, especially GM models, despite the record increases in gas prices,” said Brauer. “General Motors has seen a sales surge for these full-size SUVs, including a 126 percent increase in the GMC Yukon and a 74.3 percent increase for the Chevrolet Tahoe during the first half of 2021 compared to last year,” said Brauer.

The all-new Jeep Grand Cherokee L rounds out the list. “The Jeep Grand Cherokee L arrived in dealerships in June, so July was its first full month of sales,” said Brauer. “It is Jeep’s first three-row model in over a decade, filling a major void in the automaker’s lineup. And it’s very well executed.”

Fastest-Selling Used Vehicles

iSeeCars also analyzed the top 20 fastest-selling used vehicles. The average used car takes 35.4 days to sell, while the top 20 fastest-selling vehicles average 25.3 days and sell 1.3 to 2.2 times faster than the average used vehicle. The list of fastest-selling used vehicles includes a mix of body styles and drivetrains, led by alternative-fuel vehicles.

The Tesla Model 3 is the fastest-selling used vehicle and makes the list for the fifth consecutive month. “The Tesla Model 3 has remained popular since its high-profile debut, thanks to impressive technology and performance, plus a relatively affordable price compared to Tesla’s earlier vehicles,” said Brauer. “Used Model 3’s are so popular that consumers are willing to purchase used versions at higher prices than new versions.” Two additional Teslas make the list, including the Model S and the Model X. “Tesla continues to see record sales growth for its new vehicles, and demand for used Tesla models is on the rise as well.”

An additional electric vehicle, the Chevrolet Bolt also makes the list. “Sales of new Chevrolet Bolts grew by 335 percent in Q2 2021 over 2020, and that popularity has extended to the used car marketplace,” said Brauer.

Five sports cars and sporty sedans make the list, including the BMW 4 Series, the Mazda MX-5 Miata and its RF hardtop variant, the MINI Convertible, and the Chevrolet Camaro. “Sports cars were a popular vehicle segment throughout the pandemic, and their popularity has continued as consumers have a heightened desire to make purchases that bring them joy.”

The Kia Telluride also makes the list, and it is joined by a similar vehicle from the same manufacturer, the Hyundai Palisade. “These vehicles debuted for the 2020 model year and are in limited supply in both the new and used car marketplace,” said Brauer. “Given the markup and scarcity of new Kia Tellurides, used versions are appealing to consumers unable to locate a new model.”

Six hybrid vehicles make the list: the Toyota Highlander Hybrid, the Honda Clarity Plug-In Hybrid, the Toyota Prius, the Toyota RAV4 Hybrid, the BMW i3, and the Honda Insight. “The Honda Clarity debuted in 2018, while the Honda Insight debuted in 2019, so used versions are just now becoming available,” said Brauer. “Both new and used hybrid vehicles have been in high demand, and that demand has intensified as gas prices rise.”

Fastest-Selling Cars By City

iSeeCars analyzed the data geographically to find the fastest-selling new cars in the top 50 most populous metro areas.

The fastest-selling new vehicle in the most cities is the Kia Telluride in five cities, and the fastest-selling used vehicle is the Honda Civic in six.

“As demand continues to outpace supply for new cars, consumers should act quickly if they see their desired vehicle for sale,” said Brauer. “Consumers who have the option to wait may be able to find better new car incentives and lower used car prices once the market stabilizes, which likely won’t happen until the beginning of next year.”

Methodology

iSeeCars.com analyzed over one million new and used car sales (model years 2016-2020 for used cars) from July 2021. The number of days that each car was listed for sale on iSeeCars.com was aggregated at the model level, and the average days on market for each was mathematically modeled. Heavy-duty vehicles, models no longer in production prior to the 2021 model year, and low-volume models were excluded from further analysis.

About iSeeCars.com

iSeeCars.com is a car search engine that helps shoppers find the best car deals by providing key insights and valuable resources, like the iSeeCars free VIN check reports. iSeeCars.com has saved users over $306 million so far by applying big data analytics powered by over 25 billion (and growing) data points and using proprietary algorithms to objectively analyze, score and rank millions of new cars and used cars.