The car industry has gone through a major turnaround. It nearly collapsed at the start of the COVID-19 pandemic. Dealerships shuttered their showrooms because of the danger of contagion. People stopped driving. There was nowhere to go. As 2020 drew to a close, the pent-up demand for cars and light trucks exploded. U.S. car sales could set a record this year.
The supply of new cars is low. A shortage of chips used in cars has caused manufacturers to cut back production. Dealers have trouble getting popular models. One way the industry measures supply and demand is the number of days a car stays on a dealer lot, from when it is delivered until when it is sold. The figure, known as “average days to sell,” for May was a low 47 days.
For some models, the period was much shorter. iSeeCars Executive Analyst Karl Brauer commented, “For new cars, both higher priced full-size SUVs and alternative fuel vehicles continue to be in high demand, striking an interesting dichotomy between practical and not-so-practical consumers.”
iSeeCars reviewed data on over 1.3 million new and used cars sold in May 2021. It found the car with the fewest day to sell was the Mercedes-Benz G-Class at 9.4 days. It is among the most expensive vehicles in America. The hulking sport utility vehicle has an average price of $174,887.
Next on the list of days to sell was the Chevy Corvette at 9.5 days. Demand for the car is so high that GM says it will not be able to build enough this year.
These are the 20 fastest-selling cars in May:
- Mercedes-Benz G-Class, 9.4 days to sell
- Chevrolet Corvette, 9.5 days
- Cadillac Escalade, 10.8 days
- Hyundai Tucson Hybrid, 11.1 days
- Kia Telluride, 11.6 days
- Toyota RAV4 Prime, 11.9 days
- Toyota Tacoma, 12.2 days
- Lexus IS 350, 12.7 days
- Cadillac Escalade ESV, 13.5 days
- Toyota 4Runner, 13.7 days
- Toyota RAV4 Hybrid, 14.0 days
- Kia Carnival, 14.3 days
- Chevrolet Tahoe, 15.0 days
- Chevrolet Suburban, 15.3 days
- Toyota Tundra, 15.6 days
- Jeep Wrangler 4xe, 15.9 days
- Hyundai Santa Fe Hybrid, 16.0 days
- Volkswagen ID.4, 16.2 days
- GMC Yukon, 16.4 days
- GMC Canyon, 17.1 days
Click here to see which is the slowest-selling car in America.
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
