Car sales collapsed at the start of the COVID-19 pandemic and remained depressed through most of last year. Among the causes were financial uncertainty and the inability of people to go to dealerships. The situation improved late last year, as American car sales began to normalize. The sales of some models, in particular, rose above their levels of a year ago. Additionally, car sales in general also got a boost because of historically low-interest rates, held down by the Federal Reserve, which allowed manufacturers to offer attractive car loan terms.
Used car sales have surged, by most estimates, even more quickly than the new car numbers have. Among the reasons that experts give are cost-sensitive buyers. The average price of a new car sold in the United States has risen to between $30,000 and $35,000. Another reason is the quality of used cars. Car quality and durability have improved in the United States over the past several years.
The primary sources of new cars at dealers are those that are traded in or those with leases that have ended. The dealers face a balance between the used cars they bring in and the pace at which they are sold. Among the last things a dealer wants is a bloated used car inventory with vehicles sitting on their lots for months.
The number of days a used car typically sits on the dealer lot averages 42, according to iSeeCars. Several cars are on lots for a much shorter time. These are a wide mix of models, based on both price and type of vehicle. The average price of a used car in dealer inventory is $26,211.
The fastest-selling used car in America is the ultra-expensive Mercedes-Benz G-Class. Its “days on the lot” were 26.6 in February. The bulky sport utility vehicle’s average price used is $140,921. The price of the new 2021 AMG G 63 SUV tops $166,000.
Reviewing the list of America’s fastest-selling used cars, iSeeCars Executive Analyst Karl Brauer said, “The fastest-selling Mercedes-Benz G-Class is the embodiment of luxury, selling for an average used car price of $140,921.These used car buyers can easily afford a new vehicle, but are likely drawn to used versions in higher trims, likely with expensive add ons.”
To create its list, iSeeCars tracked more than 1.2 million new and used cars from model years 2016 through 2020 that were sold during February 2021.
The 20 Fastest-Selling Used Cars in America
|Vehicle||Average Days to Sell|
|BMW 4 Series||29.3|
|BMW 5 Series (Hybrid)||29.6|
|Lexus NX 300||29.8|
|Audi S5 Sportback||31.1|
|Land Rover Range Rover Velar||31.8|
|Lexus RX 450h||31.8|
|Mitsubishi Eclipse Cross||31.9|
|Mazda MX-5 Miata||32.1|
|Tesla Model X||32.8|
|Toyota Corolla Hatchback||33.0|