The Fastest-Selling Vehicles From March Through June
A study by iSeeCars ranked new and used top-sellers based on the average number of days each spent on the lot. The study examined sales from March through June 2020. Average days to sell are listed beside each model in bold.
- Chevrolet Trailblazer 19.0
- Kia Telluride 25.7
- Kia Seltos 31.3
- Honda CR-V Hybrid 35.2
- Hyundai Palisade 39.0
- Mercedes-Benz GLB 40.5
- Chevrolet Bolt EV 41.7
- Toyota RAV4 Hybrid 42.5
- Subaru Crosstrek 44.7
- Lexus GX 460 46.1
- Tesla Model 3 29.3
- BMW X6 43.0
- Subaru BRZ 44.5
- Toyota Yaris 44.8
- Honda Civic 47.4
- Tesla Model X 47.6
- INFINITI Q60 49.4
- Honda Accord 50.0
- Toyota Corolla Hatchback 50.2
- Tesla Model S 50.7
WSJ Promotes Dealerships Looking for Trade-Ins
The Wall Street Journal recently published an article describing dealers’ struggle to replenish used-car inventory. The news validates dealers’ trade-in marketing messaging and may help dealers secure much-needed inventory this month.
According to the article, July’s used car reserves were down 22 percent versus the same time last year. In June, the average price for a used vehicle at auction was $14,895 – an all-time high. One auction manager reported seeing the same bid wars for $5,000 cars as those priced at $50,000. The most-purchased cars in the used market from June 20 to July 20 were two SUVs, the 2019 Toyota RAV4 and the 2017 Ford Escape.
With the public more aware of dealers’ demand for used cars, now is an excellent time for trade-in marketing. Service drives are another timely option for dealers looking to identify service center customers with equity.
CBT Releases Weekly Auto Industry Stats
The following comes from CBT Automotive Network’s analysis of weekly automotive stats and trends.
- This week, new car sales came out to a retail SAAR of 11.45, down 12.5 percent from 13.48 in 2019.
- The inventory of new vehicles sold was 260,021, a 16.8 percent drop from this time last year.
- Used-car sales continue to outpace last year’s numbers. Used-vehicle sales were up to 206,468, a 2.8 percent increase from last year’s number of 200,910.
- Inventory stock levels among all new vehicles were down 22 percent from 2019, while used car levels were up 3.2 percent.
- The Dow Jones was up 0.71 percent at opening bell Wednesday, the S&P 500 is up 0.36 percent, and the average cost of gas is $2.18 per gallon.