These Are the Hottest Cars on the Market Right Now

• The Hyundai Santa Cruz debuts as the fastest-selling new vehicle; newly released Ford Bronco also makes debut

• New cars are selling over a week faster than in July, while used cars are selling slightly faster

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

• Alternative-fuel vehicles are well-represented on both fastest-selling new and used car lists

The latest iSeeCars.com analysis found that the fastest-selling new car during the month of August was the newly-released Hyundai Santa Cruz pickup. The fastest-selling used car is the Tesla Model 3 for the third consecutive month, 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 900,000 new and used cars sold in August 2021, iSeeCars.com found that overall, the average new car takes 26 days to sell and the average used car takes 34.6 days to sell. New cars are selling over a week faster than in July, where the average was 35 days, and used cars are selling slightly faster compared to 35.4 days compared to the same period last month.

“The microchip shortage is showing no signs of slowing down as major automakers continue to halt production, leading to lower and sometimes scarce inventory levels, especially for the most in-demand vehicles,” said iSeeCars Executive Analyst Karl Brauer. “It looks like car buyers who were initially waiting for prices to drop have embraced the reality that inventory shortages are here to stay, at least for the next several months.”

Fastest-Selling New Cars

iSeeCars identified the top 20 fastest-selling new cars, which sell 2.4 to 3.3 times faster than the average new vehicle and average 9.9 days on dealers’ lots. SUVs comprise the majority of the top 20 list, and hybrid vehicles account for four models.

The fastest-selling new vehicle is the Hyundai Santa Cruz pickup, which sells in eight days.”The Hyundai Santa Cruz compact pickup truck just started arriving at dealerships in August, and its asking price was marked up because it is not yet widely available,” said Brauer. “The aggressively-styled Santa Cruz truck is a niche vehicle that appeals to consumers who don’t need the full function of a traditional pickup but want the occasional cargo-hauling an open-bed offers beyond an SUV.”

Four additional models from the Hyundai-Kia automotive group joined Santa Cruz to make the list, including the Hyundai Tucson Hybrid, the Kia Seltos, the Kia Telluride, and the Kia Carnival. “The popularity of the recently released Hyundai Tucson Hybrid and the Kia Carnival shows the public perception of Hyundai and Kia vehicles has evolved, from being budget-oriented to competing with more premium mainstream cars and even luxury brands,” said Brauer. “Demand for the Kia Telluride has outpaced supply since its 2019 launch, and its average new car price of $45,001 exceeds its MSRP of $32,190 to $44,390.”

The Chevrolet Corvette moved down a position after being July’s fastest seller. “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 the model consistently sells for over MSRP, with an average price of $89,788 compared to its MSRP range of $59,900-$78,850.”

The Ford Bronco makes its debut on the list. “Demand for the new Bronco was so high Ford stopped taking reservations in late August,” said Brauer. “Ford had over 190,000 reservations for the Bronco upon its debut, and the automaker had to delay production due to issues with the vehicle’s hardtop supplier, which exacerbated the already long wait.”

Two full-size luxury SUVs with average new car prices just below $100,000 make the list: the Mercedes-Benz GLS and the Cadillac Escalade. “Mercedes-Benz recently cancelled production of V8 vehicles like the Mercedes-Benz GLS for the 2022 model year due to the chip shortage, which increased demand for the 2021 model,” said Brauer. “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.”

An additional luxury SUV, the Land Rover Defender makes the list. “Jaguar-Land Rover was hit hard by the microchip shortage, causing the automaker to halve its sales forecast for the third quarter,” said Brauer. “The Land Rover Defender is a high-demand model that has drawn long waitlists for interested buyers.”

Five Toyotas and one vehicle from its Lexus luxury division make the list, with hybrid vehicles accounting for three models. The non-hybrid vehicles include two SUVs: the midsize 4Runner and the compact RAV4, as well as the Toyota Tacoma pickup truck. The hybrid vehicles include the Toyota Sienna minivan, the Lexus RX 450h midsize SUV, and the Toyota Corolla Hybrid compact sedan. “Toyota, which already had one of the lowest inventories of any major automaker, had to cut production in August due to the chip shortage,” said Brauer. “Hybrid vehicles have surged in popularity and have grown in sales faster than electric vehicles, and consumers have embraced the hybrid versions of Toyota’s popular cars and SUVs.”

Three Subarus make the list: the Crosstrek subcompact SUV, the Forester compact SUV, and the WRX sporty compact car. “Subaru reported the shortest supply of new cars of any automaker in August,” said Brauer. “The Crosstrek and Forester are two of Subaru’s most in-demand models, and the WRX saw a sales increase over 2020 amid its reduced supply.”