It seems that US dealers have a hard time selling electric vehicles despite the major price drops during the past year. In general, used cars sell slightly faster compared to last year as buyers look for better deals and slowly move away from new and higher-priced mainstream offerings that are no longer hurt by availability issues.

The data for July 2023 shows that it takes an average of 50 days to sell a new EV, which is almost double the time it took in July 2022 (25.2 days). The situation is even worse for used EVs, now selling at an average of 57.8 days compared to 26.4 days last year. While this is bad news for most carmakers with EVs in their range, it is actually good news for prospective EV buyers, as they can strike better deals and benefit from wider availability.

Fastest-Selling New EVs Excluding Tesla

RankModelAvg. Days
on Market
Avg.
Price
1Chevrolet Bolt EUV29.1$34,218
2BMW i430.5$63,736
3Hyundai Ioniq 639.1$51,439
4Audi Q4 e-tron41.3$61,118
5Hyundai Ioniq 547.6$52,550
6Audi Q8 e-tron48.5$83,640
7Mercedes-Benz EQE49.8$84,762
8Ford Mustang Mach-E50.4$60,015
9Volkswagen ID.452.0$48,734
10Toyota bZ4X53.5$48,718
11Mercedes-Benz EQS55.0$125,680
12Kia EV657.9$55,225
13Bmw iX58.4$102,632
14Kia Niro EV59.4$43,944
15Subaru Solterra60.0$48,592
16Hyundai Kona Electric61.1$40,149
17Ford F-150 Lightning61.9$81,627
18Mercedes-Benz EQB65.7$61,694
19Mercedes-Benz EQS65.7$118,343
20Nissan Ariya71.3$51,638
21Nissan LEAF95.2$32,770
Source: iSeeCars
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Fastest-Selling Used EVs Between 1 And 5 Years Old

RankModelAvg. Days
on Market
Avg.
Price
1Tesla Model Y47.6$46,067
2Nissan LEAF51.3$20,483
3Tesla Model 351.8$35,039
4Chevrolet Bolt EV54.3$21,949
5Tesla Model X71.4$70,835
6Ford Mustang Mach-E75.8$42,503
7Tesla Model S88.3$65,216
Source: iSeeCars
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According to the latest market study from iSeeCars, the fastest-selling new EV excluding Teslas is the Chevrolet Bolt EUV (29.1 days) despite the model going out of production by the end of the year in favor of a new generation. As for used, EVs, the fastest seller is the Tesla Model Y (47.6 days), followed by the Nissan Leaf (51.3 days) and the Tesla Model 3 (51.8 days).

Buyers Turn To Used Cars

The post-pandemic world initially suffered from great demand and poor supply of new vehicles, with buyers having no other option than turning to the used car market. While supply is no longer an issue, buyers remain interested in used vehicles, which may present a better value compared to a new but pricier equivalent.

The average used car independent of powertrain type costs $33,240 and takes 49 days to sell which is 3.6% cheaper and 6.1% faster compared to last year. On the other hand, the average new car costs $45,936 and needs 48.2 days to sell which is 3.8% more expensive and 25.7% slower compared to last year.

More: Sub-$20K Used Cars Accounted For Roughly Half Of The Market Pre-Pandemic, Now They Are Almost Gone

 New And Used EVs Take Twice As Long To Sell Compared To Last Year
The Toyota Grand Highlander Hybrid (above) and the Honda HR-V (below) are the fastest-selling new and used cars in the US.
 New And Used EVs Take Twice As Long To Sell Compared To Last Year

The fastest-selling new cars are the Toyota Grand Highlander Hybrid (9.2 days), the Range Rover (10.4 days), and the non-hybrid Toyota Grand Highlander (10.7 days). As for the fastest-selling used cars, those are the Honda HR-V (34.4 days), the Acura ILX (35.3 days), and the Toyota Highlander Hybrid (36.6 days). You can see the top 20 spots for both new and used vehicles on the charts below.

Data also shows that buyers steer away from mainstream top sellers in the new and used car market, in a quest to find better prices. More specifically, the most popular new and used cars sell 29.2% and 26% slower respectively on a year-to-year basis.

Analysts believe that demand for used cars will remain strong as prices slowly drop over the next 6-12 months. On the other hand, dealers will need to work harder to sell new cars especially when it comes to the most popular models which are offered at full prices despite spending more time in the lots.

Fastest-Selling New Cars

RankModelAvg. Days
on Market
Avg.
Price
1Toyota Grand Highlander Hybrid9.2$56,396
2Land Rover Range Rover10.4$149,241
3Toyota Grand Highlander10.7$53,705
4GMC Yukon19.7$82,342
5Lexus NX 350h19.7$51,510
6Kia Forte21.0$23,867
7Subaru Crosstrek21.8$31,250
8BMW X122.1$46,310
9Toyota Corolla22.6$24,819
10Toyota Sienna (hybrid)22.9$51,170
11Subaru Forester23.0$35,562
12Chevrolet Tahoe23.1$72,806
13Toyota Sequoia23.5$79,030
14Cadillac Escalade23.5$109,155
15GMC Yukon XL24.7$86,673
16Toyota Camry Hybrid24.8$35,578
17Toyota Camry24.9$32,719
18Toyota Corolla Cross Hybrid24.9$33,785
19Kia Carnival25.0$40,350
20Toyota RAV4 Hybrid25.2$39,649
Source: iSeeCars
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Fastest-Selling Used Cars Between 1 And 5 Years Old

RankModelAvg. Days on MarketAvg. Price
1Honda HR-V34.4$24,496
2Acura ILX35.3$26,091
3Toyota Highlander Hybrid36.6$42,119
4Acura RDX36.8$35,864
5Hyundai Venue38.0$19,764
6Honda Insight38.3$24,567
7Honda CR-V38.5$28,660
8Honda Civic38.8$24,619
9Toyota C-HR38.9$23,462
10Toyota Sienna (hybrid)39.1$44,233
11Toyota Tundra39.1$45,110
12GMC Yukon39.4$56,637
13Kia Telluride39.7$39,838
14Acura TLX39.8$32,380
15Honda Pilot39.9$34,749
16Chevrolet Corvette39.9$82,574
17Acura MDX40.4$38,279
18Honda Accord40.5$26,816
19Cadillac Escalade ESV40.5$66,331
20Toyota 4Runner40.7$40,851
Source: iSeeCars
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