Car prices have risen at a rate not seen in years. In fact, some of the fastest rising components of the consumer price index are new and used cars.
One reason car prices have risen so quickly is a lack of supply, primarily due to a shortage of the semiconductor chips used in the electronic and infotainment systems in modern cars. The shortage will not improve until well into this year, or later. Car dealers have such shortages of some models that they have started to overcharge for them, compared to what manufacturers say they should sell for. Car company management has attacked some of these dealers.
One primary yardstick for shortages is called “days to sell.” This is the period from when a car is delivered to a dealer until a new owner drives it away. Among new car models, iSeeCars puts the average number at 36.3 days. In a normal year for the industry, this number is closer to between 50 and 60 days.
The iSeeCars Fastest-Selling New and Used Cars study, which covers January, was released recently. Used car prices rose 36.9% during the month. iSeeCars Executive Analyst Karl Brauer pointed out: “Buyers who don’t want to pay inflated used car prices are turning to the new car market which is leading to further inventory constraints as the market struggles to keep up with pent-up demand from the ongoing microchip shortage.”
The iSeeCars analysis for January included a review of 280,000 new and used cars sold during the month.
The fastest-selling new car in January was the Kia Telluride, which had an average of 12.8 days to sell. The Telluride is one of Kia’s sport utility vehicles. It gets strong reviews from car media, including Motor Trend and U.S. News.
Here are the 20 fastest-selling new cars in America:
| Vehicle | Days to Sell | Price |
|---|---|---|
| Kia Telluride | 12.8 | $44,392 |
| Toyota Corolla | 15.5 | $23,074 |
| Toyota Sienna | 16.5 | $43,677 |
| Acura MDX | 16.7 | $57,025 |
| Ford Maverick | 16.8 | $26,709 |
| Chevrolet Corvette | 17.4 | $98,597 |
| Toyota Highlander Hybrid | 17.5 | $48,115 |
| Subaru Crosstrek | 17.6 | $29,472 |
| Honda Civic | 17.9 | $25,338 |
| Toyota Venza | 18.0 | $40,264 |
| Toyota RAV4 Hybrid | 18.2 | $36,194 |
| Toyota RAV4 | 18.4 | $32,562 |
| Subaru Forester | 18.4 | $34,231 |
| Hyundai Ioniq 5 | 18.5 | $49,881 |
| Toyota Corolla Cross | 18.6 | $28,411 |
| GMC Terrain | 18.7 | $34,513 |
| Honda CR-V | 19.2 | $32,719 |
| Hyundai Tucson Hybrid | 19.9 | $34,716 |
| BMW X4 | 20.1 | $58,393 |
| Lexus GX 460 | 20.6 | $61,986 |
Click here to see which are the most expensive cars in America.
Travel Cards Are Getting Too Good To Ignore
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
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.