(iSeeCars) – Analyzing over 280,000 new and used cars sold in November 2021, iSeeCars.com found that overall, the average new car takes 42.8 days to sell and the average used car takes 51.5 days to sell. Both new and used cars are selling slower compared to last month’s averages of 31.7 days and 44.7 days, respectively.
“The average price for the fastest-selling new cars increased by 21 percent from October to November, which may have affected demand for new cars, as evidenced by the slower average time-to-sell,” said iSeeCars Executive Analyst Karl Brauer. “Similarly, used cars are selling a week slower, which is likely due to price increases and reduced inventory.
The latest iSeeCars.com analysis found the fastest-selling new car during the month of November was the Mercedes-Benz GLE, which tops the list for the first time and moves up from the eleventh position in October. The fastest-selling used car is the Honda Insight, topping a list that is led by alternative-fuel vehicles.
- The Mercedes-Benz GLE is the fastest-selling new vehicle, taking an average 12.7 days to sell
- Toyota-Lexus vehicles account for 9 vehicles on the fastest-selling new vehicle list
- Honda Clarity Plug-In Hybrid is the fastest-selling used car; alternative-fuel vehicles are well-represented on both fastest-selling new and used car lists
- Toyota Tacoma is the most consistent fastest-selling new vehicle for the year, while Tesla Model 3 and Mazda MX-5 Miata tie as vehicles to most often appear on the fastest-selling used vehicle list
Fastest-Selling New Cars
iSeeCars identified the top 20 fastest-selling new cars, which sell 2.1 to 3.4 times faster than the average new vehicle and average 17.6 days on dealers’ lots. SUVs comprise the majority of the top 20 list, and hybrid vehicles account for six models.
|Top 20 Fastest-Selling New Vehicles In November 2021 – iSeeCars Study|
|Rank||Vehicle||Average Days To Sell||Average Price|
|2||GMC Sierra 1500 Limited||13.8||$61,242|
|4||Chevrolet Silverado 1500 Limited||15.5||$53,251|
|6||Toyota RAV4 Prime||15.8||$46,480|
|9||Toyota Corolla Cross||16.7||$27,735|
|12||Honda CR-V Hybrid||17.2||$35,894|
|13||Toyota Camry Hybrid||18.1||$32,847|
|14||Lexus RX 450h||18.2||$58,727|
|15||Toyota RAV4 Hybrid||18.2||$35,759|
|18||Jeep Wrangler Unlimited||19.9||$52,368|
|Average For All New Vehicles||42.8||$42,049|
The fastest-selling new car is the Mercedes GLE midsize SUV, which moves up 10 positions after being the eleventh-fastest seller in October. An additional Mercedes SUV, the full-size GLS, also makes the list in the tenth position. “The Mercedes-Benz GLE is the best seller in Mercedes’ lineup and sales have increased by 47.9 percent over last year,” said Brauer. “The GLS is a popular full-size luxury SUV, second to only the best-selling Cadillac Escalade in volume, and demand for the 2021 models of these vehicles has likely risen since Mercedes-Benz recently cancelled production of V8 versions of the GLE and GLS for the 2022 model year, due to the chip shortage.”
Three additional German luxury SUVs from BMW make the list–the compact X4, the midsize X6, and the full-size X7. “The coupe-like BMW X4 and the BMW X6 are more expensive than BMW’s non-coupe counterparts, the X3 and the X5 respectively, and are among the lowest-volume sellers in their classes, suggesting buyers are turning to them due to limited availability of more popular models,” said Brauer. “BMW announced the X5 and the X7 will not have touchscreen functionality on new models due to the microchip shortage, which could heighten demand for the models currently on dealer lots.”
Two newly released pickup trucks for the 2022 model year from General Motors make the list: the GMC Sierra 1500 Limited and the Chevrolet Silverado 1500 Limited. “The GMC Sierra 1500 Limited and Chevrolet Silverado 1500 Limited models are bridging the gap between their outgoing 2021 models and their refreshed 2022 models, which have been delayed due to the microchip shortage,” said Brauer. “These trucks include the same equipment and options as the 2021 models, and buyers are likely choosing the Limited versions because they want a 2022 model year vehicle and are unwilling to wait for the refreshed trucks.”
Eight Toyota vehicles and one from its Lexus luxury division make the list, with hybrid vehicles accounting for five models. The hybrid vehicles include the Toyota RAV4 Prime plug-in hybrid, the Toyota Sienna minivan, the Toyota Camry Hybrid, the Lexus RX 450h, and the Toyota RAV4 Hybrid. Toyota’s non-hybrid vehicles include the Toyota RAV4, the Toyota Corolla Cross, the Toyota Camry, and the Toyota Tacoma. “Toyota has had to cut output in recent months due to production shutdowns, which led to a 24 percent reduction in sales for November because of inventory constraints,” said Brauer. “Toyota’s hybrid vehicles have surged in popularity due to heightened gas prices, and Toyota’s longstanding popular non-hybrid vehicles, as well as the newly-released Corolla Cross, are in high demand and in limited supply.”
The Chevrolet Corvette is a mainstay on the fastest-selling list and ranks eighth. “Demand for the mid-engine Chevrolet Corvette has exceeded supply since its launch for the 2020 model year,” said Brauer. “Dealers have a backlog of orders for the 2022 model, which is consistently priced above MSRP, and long waitlists have formed for the high-performance Z06 version coming for the 2023 model year.”
Two Hondas make the list:the CR-V compact SUV and the CR-V’s hybrid variant. “Honda’s volume was reduced by 17 percent in the U.S compared to the previous year, which led to limited inventory, especially for popular models like the CR-V,” said Brauer. “The Honda CR-V Hybrid is likely seeing a sales boost due to elevated gas prices and scarcity of the traditional CR-V and other popular hybrids.”
The Jeep Wrangler Unlimited rounds out the list. “The Jeep Wrangler Unlimited is among the new cars with the greatest price hikes over MSRP, and car buyers are willing to pay a premium for the new versions that are difficult to find on new car lots,” said Brauer.
Fastest-Selling Used Vehicles
iSeeCars also analyzed the top 20 fastest-selling used vehicles. The average used car takes 51.5 days to sell, while the top 20 fastest-selling vehicles average 34.2 days and sell 1.3 to 2.3 times faster than the average used vehicle. The list of fastest-selling used vehicles includes a mix of body styles and drivetrains, including seven hybrid and two electric vehicles.
|Top 20 Fastest-Selling Used Vehicles in November 2021- iSeeCars Study|
|Rank||Vehicle||Average Days to Sell||Average Price|
|1||Honda Clarity Plug-In Hybrid||22.2||$25,519|
|3||Chrysler Pacifica Hybrid||26.5||$39,876|
|5||BMW 2 Series||28.7||$36,095|
|8||Tesla Model 3||32.6||$48,297|
|9||Hyundai Ioniq Hybrid||32.9||$22,726|
|15||Mazda MX-5 Miata RF||37.3||$30,318|
|16||Toyota RAV Hybrid||37.6||$33,160|
|18||Volkswagen Golf GTI||38.5||$25,488|
|Average for All Used Vehicles||51.5||$32,551|
The fastest-selling used vehicle is the Honda Clarity Plug-In Hybrid, which is joined by six additional hybrid vehicles including the Chrysler Pacifica Hybrid, the BMW i3 plug-in hybrid, the Toyota Prius, the Hyundai Ioniq Hybrid, the Toyota RAV4 Hybrid, and the Kia Niro. “The Honda Clarity debuted in 2018, while the Honda Insight debuted in 2021, which means most used versions are just now becoming available and are in high demand,” said Brauer. “Just as in the new car marketplace, hybrid and plug-in vehicles are hot sellers as fuel prices have increased by 58.7 percent in November compared to last year.”
Two electric vehicles make the list–the Nissan LEAF and the Tesla Model 3. “A new version of the Model 3’s Standard Range Plus variant isn’t expected until June 2022, which further elevates the demand for used versions, some of which are being sold at higher prices than new versions,” said Brauer. “The Nissan LEAF, which usually isn’t in high demand on the used car marketplace due to its limited range and high depreciation, has seen a surge in popularity that made it the used car with the highest price increase in November.”
Two luxury sedans and two sports cars make the list–the BMW 2 Series, the Genesis G90, the Mazda MX-5 Miata RF, and the Porsche 911. “Sports and luxury cars were popular throughout the pandemic, and their popularity has continued as consumers have a heightened desire to buy models that offer joy and freedom,” said Brauer.
The Kia Telluride also makes the list. “The Kia Telluride debuted for the 2020 model year and is 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.”
Two luxury compact SUVs make the list: the BMW X4 and the Mercedes-Benz GLB. “Just like in the new car marketplace, the popularity of used BMW X4 vehicles is likely due to the scarcity of more popular models and the popularity of the luxury SUV segment,” said Brauer. “The Mercedes-Benz GLB debuted in 2019, which means it’s just entering the used car marketplace in large numbers. It stands out because of its relative affordability for the segment and because it is one of the few compact SUVs to offer a third row of seating.”
Four small cars and SUVs round out the list including the Hyundai Veloster compact car, the Hyundai Venue subcompact SUV, the compact Volkswagen Golf GTI, and the subcompact Hyundai Accent. “The small Hyundai vehicles are practical choices for consumers who want an affordable vehicle as used car prices continue to rise,” said Brauer. “The Volkswagen GTI is a more powerful version of the standard Volkswagen Golf hatchback, and is a practical choice for drivers who want a high-performance car that still offers an abundance of cargo room.”
2021 Year in Review
iSeeCars compiled the monthly average time-to-sell for new and used cars for the year-to-date:
“Used cars steadily took less and less time to sell from the beginning of the year until October, when they drastically took more time to sell likely as a result of elevated prices,” said Brauer. “New cars followed a similar pattern from the beginning of the year through May, but their days on market quickly accelerated through September, after which they slowed down back to mid-year levels. The faster-selling months coincided with reduced inventory amid the height of production shutdowns.”
iSeeCars also examined the average prices for new and used cars during 2021:
“The average price for new cars has grown steadily, at a rate of about $534 a month because of manufacturers prioritizing the production of more expensive and profitable cars and as dealers have marked up cars over MSRP,” said Brauer. “Prices of used cars grew at an even higher rate of $638 a month and are the highest they have been all year. Limited inventory in the new car market has heightened demand and elevated prices for used cars.”
Fastest-Selling New Cars: Year To Date
iSeeCars analyzed which cars appeared most often on its fastest-selling new car list for 2021:
|Most Consistent Fastest-Selling New Cars for 2021|
|Model||# Months as Fastest-Seller (through November 2021)|
|Toyota RAV4 Hybrid||10|
|Lexus RX 450h||8|
|Lexus IS 350||7|
|Toyota RAV4 Prime||7|
The Toyota Tacoma is the only vehicle that was among the fastest-selling new cars for 11 months. “As the best-selling midsize pickup truck, the Toyota Tacoma was in high demand even before the microchip shortage, as available models struggled to keep up with demand amid production constraints,” said Brauer. Five additional Toyota models make the list along with two vehicles from Toyota’s luxury brand, Lexus. “Toyota has historically maintained tight inventory, which was exacerbated during the microchip shortage and limited availability of the brand’s popular vehicles.”
The Chevrolet Corvette and the Kia Telluride join the Tacoma and the RAV4 Hybrid in second place, each making the list for 10 months. “The Corvette and Telluride are notoriously scarce in the new car marketplace, leading to excessive markups over MSRP,” said Brauer.
Fastest-Selling Used Cars: Year To Date
iSeeCars also analyzed which used cars appeared most frequently on the fastest-selling list for 2021:
|Most Consistent Fastest-Selling Used Cars for 2021|
|Model||# Months as Fastest-Seller (through November 2021)|
|Tesla Model 3||9|
|Mazda MX-5 Miata||9|
|BMW 4 Series||8|
|Honda Clarity Plug-In Hybrid||7|
|BMW 2 Series||6|
|Tesla Model X||6|
|Toyota Highlander Hybrid||6|
The Tesla Model 3 and the Mazda MX-5 Miata tie as the used vehicles to most often make the fastest-selling list, at nine months each. “The Tesla Model 3 was the fastest-selling used car overall from June through September, and it has been in high demand since it became available on the used car marketplace, with demand intensifying further in recent months in reaction high gas prices,” said Brauer. “Sports cars surged in popularity as a result of the COVID-19 pandemic as consumers bought them to combat boredom, and the Mazda MX-5 Miata’s relative affordability compared to other sports cars furthers its appeal to a wide demographic.”
“As we look ahead to 2022, new car inventory will remain tight as automakers struggle to meet pent-up demand, especially with popular vehicles,” said Brauer. “Consumers should act quickly if they see their desired vehicle for sale, and buyers will likely need to be flexible on color and trim options for in-demand models,” said Brauer.
iSeeCars.com analyzed over 280,000 new and used car sales (model years 2016-2020 for used cars) from November 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 not in production prior to the 2021 model year, and low-volume models were excluded from further analysis.
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 and Best Cars rankings. iSeeCars.com has saved users over $318 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.
This article originally appeared on iSeeCars.com.