When it comes to the average number of days that used-cars stay on the market, hybrid and electric vehicles most often have the upper hand as far as attracting buyers the fastest.
At a time when the average used-car between model years 2015 to 2017 spends an estimated 46.4 days on the market, both hybrid and electric vehicles are the fastest to sell, according to new iSeeCars.com research.
“It’s important to know how long vehicles stay on dealer lots, because slower-moving cars can present negotiation opportunities for consumers,” iSeeCars chief executive officer Phong Ly said in a news release. “Cars that remain on market for longer than average indicate that supply is higher than demand, which could mean the pricing is too high or that the car isn’t as well-liked as its competitors.”
The top 10 slowest-selling used cars, on average, stay on the market for 62.2 to 67.8 days — 32.9 to 44.8 percent longer than the average vehicle, according to iSeeCars.com data.
In contrast, the Toyota Prius C is the fastest selling used car with just an average 29.6 days on market, followed by the Tesla Model S (32.4), and third place BMW i3 (33.4). Meanwhile, the leading slowest-selling used-car models include the Porsche Cayenne mid-size SUV (67.8), Buick Regal (67.6) and Buick LaCrosse (67.5).
“Luxury SUVs depreciate quickly because of their high starting price and because they are most often leased,” said Ly. “Buying a late-model used luxury SUV, especially a Lexus which is known for reliability, affords the consumer with a good deal on a dependable vehicle.”
Here is a list of the top 10 fastest selling vehicles listed on iSeeCars.com with the average number of days each vehicle stays on market:
1. Toyota Prius C, 29.6
2. Tesla Model S, 32.4
3. BMW i3, 33.4
4. Toyota Prius, 33.4
5. Chevrolet Volt, 34.3
6. Volkswagen Golf R, 34.4
7. Honda Civic, 34.7
8. Toyota Corolla, 34.9
9. Honda Accord, 35.5
10. Hyundai Veloster Turbo, 36.0
From the start of the year through July, the amount of days that more than 4 million used-car listings were on iSeeCars.com was aggregated at the model level to estimate the average number of days on market for each vehicle.