This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive
compensation for actions taken through them.
Car sales have surged this year. There has been pent-up demand due to the period of the COVID-19 pandemic when people could not go to dealers. Interest rates on car loans are low. However, supply has not kept up with demand. The primary reason is a shortage of semiconductors used in auto electronics. This chip shortage could continue beyond the end of the year. The combination of factors also has triggered rising prices for both new and used cars.
Commenting on the chip shortage, iSeeCars Executive Analyst Karl Brauer said, “The microchip shortage continues to impact new and used car sales as production interruptions lower the new car and used car supply and dealers are forced to maintain tight inventory levels.”
When car supplies are tight, one of the industry measures watched most carefully is days to sell. This is the difference between when a dealer receives a car from the manufacturer and when it is driven off the dealer lot by a customer. In July, days to sell across the industry were an unusually low 35.
Some cars have days to sell figures below 15. For one, the number is less than 10. The iconic American muscle car Chevy Corvette stays on the lot for an average of seven days. Brauer commented, “Dealers stopped taking orders for the 2021 model year in March, and demand remains so high that dealers are marking Corvettes up tens of thousands over MSRP.” The average price of a new Corvette is $86,785.
Much of the balance of the list of cars with fewest days on lot included highly popular sport utility vehicles, crossovers and pickups. Americans turned their backs on sedans a decade ago, and these other categories increased in popularity. Among the 20 cars that spend the fewest days on the lot are the Toyota 4Runner, Kia Telluride, Cadillac Escalade and GMC Yukon.
These are the 20 cars that sell the fastest.
- Chevrolet Corvette: 7.0 days to sell
- Toyota 4Runner: 10.7
- Hyundai Tucson Hybrid: 11.0
- Toyota RAV4: 11.1
- Toyota Sienna: 11.1
- Lexus RX 450h: 11.6
- Toyota RAV4 Hybrid: 11.6
- Toyota Corolla Hybrid: 12.1
- Kia Telluride: 12.3
- Kia Seltos: 12.4
- Hyundai Palisade: 12.4
- Kia Carnival: 12.6
- Cadillac Escalade: 12.7
- GMC Yukon: 13.0
- Toyota Tacoma: 13.1
- Lexus IS 350: 13.2
- Chevrolet Tahoe: 13.2
- Jeep Grand Cherokee L: 13.3
- Toyota RAV4 Prime: 13.4
- Toyota C-HR: 13.5
Click here to see which is the slowest-selling car in America.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
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
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.