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The fastest-selling new car in America may surprise you

The fastest-selling new car in America may surprise you

It’s no secret that the new and used car markets are insane right now, but the problem has more than one facet. iSeeCars, a market research car search engine, recently published a list of the fastest selling new and used cars. The data backs up much of what we already know, but the numbers behind some of the models may surprise you.

The fastest-selling new car in June 2022 was the Subaru Crosstrek, with an average sales time of 12.9 days. The average retail price for the Crosstrek in June was $30,299, so people are buying more expensive trims on the car, which start at about $24,000 in basic form. The Honda Civic, Subaru Forester, Honda CR-V and Subaru Impreza round out the top five.

The average retail prices of all those vehicles were well above the starting prices of their respective models, meaning people are buying more expensive models or paying surcharges. Neither of these things benefits buyers and provides only a partial benefit to dealers who struggle to find cars to sell.

Karl Brauer, Executive Analyst of iSeeCars, notes that high gas prices are driving part of the craze for smaller and hybrid vehicles. The Honda Civic and CR-V are great examples, as the automaker can’t keep enough inventory of both models on dealer lots. Civic sales were down 54 percent and CR-V sales were down 45 percent from 2020, as there weren’t enough units to make ends meet.

It’s even crazier on the used car side. The Tesla Model Y is currently the fastest-selling used car, but the average retail price of $69,784 surpasses the EVs new ones price by more than 10%, and that’s for the top-of-the-line Model Y Performance model. The Prius Prime isn’t much better. At number two on the list of fastest-selling used cars, the average price of $31,867 is about $1,400 more than a brand new mid-range XLE trim.

The same is true for many cars on the list, where the average used sales price was higher than the suggested retail price for new cars. Used car prices are partly determined by the availability of new cars and customer demand. The wait to receive a newly ordered Tesla Model Y extends until 2023, so it’s understandable that people would be willing to pay for the privilege of skipping that line.

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