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.
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.