These are not the best times to buy a new car. Dealer inventories remain wafer-thin due to production constraints caused by supply chain shortages, while automakers must build models without some key features for which components were unavailable just to keep assembly lines running.
For example, we recently took a test drive on a Chevrolet Silverado 1500 that had a $25 credit on the price sticker for not having a heated steering wheel (promising a later adjustment). A $112,000 Cadillac Escalade we drove showed a $50 credit for not being equipped with an electronic steering column lock. Other items most often left over from delivered models to facilitate production are infotainment touchscreens, wireless charging pads, heated seats and some audio systems.
And that’s if you can find the vehicle of your choice in stock at all. Ordering a car from the factory is an option, but it’s hardly a practical solution for someone who needs a car sooner than a few months later, especially if his current ride is about to expire or is dealing with major repairs.
The anomalous supply and demand problems, as any Economics 101 student can attest, have pushed prices up significantly. According to Kelley Blue Book, the average regular brand vehicle that sold for $43,942 last month, the highest transaction price ever. Luxury models go for an average of $66,476, which is about $1,100 above their MSRP. Rising gas prices are (no pun intended) fueling demand for electric and hybrid vehicles. Transaction prices for EVs are now nearly 14 percent higher than a year ago, while hybrids cost as much as $8,453 more than in mid-2021.
Of course, not all factory-fresh cars, trucks and SUVs are short on supply and can command such high prices. Some brands are hotter than others, again due to ongoing supply and demand issues. KBB says that while new cars from Honda, Kia and Mercedes-Benz were on average 6.5-8.7 percent above their sticker prices in June, those from Buick, Lincoln and Ram sold about one percent below their suggested retail price.
Obviously, due to a lack of shipped inventory and/or overwhelming demand, the models least available at dealerships will not only be the hardest to find, but will also be the hardest to run off the lot with. form of transport whatsoever. discount. Shoppers will find the biggest gains on red-hot models like the Ford Bronco SUV, which have been in such high demand that dealers have stopped taking orders for the 2022 model year. To identify which new vehicles are currently in highest demand and have the least offer is the car website iSeeCars.com looked at more than 224,000 transactions that took place in June to determine how many days a particular model lingers in a dealer’s inventory before selling.
The top drive in this regard, the sub-compact Subaru Crosstrek SUV is only stocked for 12.9 days before being driven off the terrain. The industry average is currently 37.2 days, while 50 days was considered typical in the pre-pandemic era. We present the 20 fastest sellers below.
It’s more or less the same story on the used car side, where EVs, hybrids and small cars are stocked for the shortest intervals. According to iSeeCars.com, the Tesla Model Y crossover tops this list, sticking around for an average of 24.9 days before being sold. Other scarce pre-owned models include Tesla’s Model 3 and Model X, the Toyota Prius and Prius Prime, and the all-electric Ford Mustang Mach-E. Testified to current demand, we have 2021 Mach-Es listed on used vehicle sites for a whopping $17,000 Lake than their original sticker prices.
In the meantime, car buyers are advised to stay opportunistic and keep both an open mind – and a wallet – to find something that comes close to their chosen rides the way they want them equipped. “New car inventory is expected to remain tight through 2022 as microchip shortages continue and automakers struggle to meet pent-up demand,” said iSeeCars Executive Analyst Karl Brauer. “Customers need to act quickly when they see their desired vehicle for sale, and buyers will likely need to be flexible about color and trim options for high-demand models.”
In the meantime, here are the fastest-selling new vehicles on the market today, based on data from iSeeCars.com, for which buyers should expect low inventories and high prices, with their average sales days and transaction prices noted:
- Subaru Crosstrek: 12.9 days; $30,299
- Honda Civic: 14.1 days; $26,480
- Subaru Forester: 14.7 days; $34,319
- Honda CR-V: 17.7 days; $34,698
- Subaru Impreza: 18.5 days; $24,881
- Kia Telluride: 18.6 days; $46,447
- Kia Fortea: 18.6 days; $23,084
- BMW X3: 19.4 days; $52,079
- Ford Bronco: 21.5 days; $57,579
- Hyundai Tucson Hybrid: 22.3 days; $36,371
- Subaru Outback: 22.9 days; $37,942
- Kia Sportage: 22.9 days; $33,967
- Toyota RAV4 Hybrid: 23.7 days; $36,767
- Nissan Kicks: 23.7 days; $24,277
- Jeep Wrangler Unlimited: 24.1 days; $55,043
- Chevrolet Trailblazer: 24.1 days; $27,523
- Mercedes-Benz GLE: 24.7 days; $75,240
- Toyota Camry: 25.9 days; $30,998
- Jeep Wrangler Unlimited (Hybrid): 25.9 days; $62,731
- Toyota Highlander: 26.4 days; $46,332
You can read the full study here.