Supply issues during the pandemic, including a severe chip shortage, caused demand for cars to exceed supply and car prices to jump. While many of these issues have settled, car prices remain high. With consumers still feeling the effect of months of high inflation, many are taking their time when in the market for a new car, according to iSeeCars.com.
Though, overall, used cars are selling faster than the previous year, new car models are selling slower. On average, a new car sold 25.7% slower in July 2023 compared to the year before, sitting on the market for an average of 48.2 days compared to 38.4 days in 2022. Even the fast-selling cars are selling 29.2% slower. (Also see: this is the most dependable car brand in America.)
To find the hottest-selling new car in America, 24/7 Wall St. reviewed car research and sales site iSeeCars’ report, The Fastest- and Slowest-Selling New and Used Cars in Today’s Market. iSeeCars analyzed over 228,000 new and used car sales from July 2023, averaging the number of days that each model was listed for sale on iSeeCars.com.
The 20 cars fastest-selling cars remain listed anywhere from 25 days to just over nine days — well below the industry target of 60 days to sell, according to the study. Fourteen of the 20 hottest-selling cars are SUVs, four are sedan or compact cars, and two are minivans.
Perhaps somewhat surprisingly considering that electric vehicles are among the slowest-selling cars, hybrids shine among the fastest selling, with six hybrid models among the top 20. Also, one brand stands out, with nine models among the top fastest-selling cars — Toyota. While the cars on the list range in price from well below the average of $43,205 in July 2023 to considerably more than that — or from $23,867 to $149,241 — the split is even. (Find out if any of these cars are on this list: cars with the best retention value.)
These are America’s hottest-selling cars:
20. Toyota RAV4 Hybrid
- Average days to sell: 25.2
- Average price: $39,649
19. Kia Carnival
- Average days to sell: 25.0
- Average price: $40,350
18. Toyota Corolla Cross Hybrid
- Average days to sell: 24.9
- Average price: $33,785
17. Toyota Camry
- Average days to sell: 24.9
- Average price: $32,719
16. Toyota Camry Hybrid
- Average days to sell: 24.8
- Average price: $35,578
15. GMC Yukon XL
- Average days to sell: 24.7
- Average price: $86,673
14. Cadillac Escalade
- Average days to sell: 23.5
- Average price: $109,155
13. Toyota Sequoia
- Average days to sell: 23.5
- Average price: $79,030
12. Chevrolet Tahoe
- Average days to sell: 23.1
- Average price: $72,806
11. Subaru Forester
- Average days to sell: 23.0
- Average price: $35,562
10. Toyota Sienna (hybrid)
- Average days to sell: 22.9
- Average price: $51,170
9. Toyota Corolla
- Average days to sell: 22.6
- Average price: $24,819
8. BMW X1
- Average days to sell: 22.1
- Average price: $46,310
7. Subaru Crosstrek
- Average days to sell: 21.8
- Average price: $31,250
6. Kia Forte
- Average days to sell: 21.0
- Average price: $23,867
5. Lexus NX 350h
- Average days to sell: 19.7
- Average price: $51,510
4. GMC Yukon
- Average days to sell: 19.7
- Average price: $82,342
3. Toyota Grand Highlander
- Average days to sell: 10.7
- Average price: $53,705
2. Land Rover Range Rover
- Average days to sell: 10.4
- Average price: $149,241
1. Toyota Grand Highlander Hybrid
- Average days to sell: 9.2
- Average price: $56,396
Find a Qualified Financial Advisor (Sponsor)
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.