These are not the best times to buy a new car. Dealer inventories remain tight due to production constraints caused by supply chain shortages, while automakers have to build models without some key features for which components were not available, just to keep assembly lines running.
For example, we recently tested a Chevrolet Silverado 1500 for which the price tag noted a $ 25 credit for not having a heated steering wheel (promising a later retrofit). A $ 112,000 Cadillac Escalade we drove showed a $ 50 credit for not being equipped with an electronic steering column lock. Other items often left behind by the models delivered to facilitate production include infotainment touch screens, wireless charging pads, heated seats, and some audio systems.
And that’s if you can find the vehicle of your choice in stock. Ordering one from the factory is an option, but certainly not a practical solution for someone who needs a car sooner rather than several months later, especially if his current run is about to come out of a lease or is facing repairs. important.
Problems of out-of-control supply and demand, as any student of Economics 101 would attest, have pushed prices up considerably. According to Kelley Blue Book, the mainstream brand’s average vehicle sold for $ 43,942 last month, which is the highest transaction price ever recorded. Luxury models cost $ 66,476 on average, which is about $ 1,100 above their recommended price. Rising gas prices (no pun intended) are fueling demand for electric and hybrid vehicles. Transaction prices for electric vehicles are now nearly 14% higher than they were a year ago, while hybrids are going up to a whopping $ 8,453 more than in mid-year 2021.
Of course, not all factory-fresh cars, trucks and SUVs are short on stock and capable of commanding such high markups. Some brands are hotter than others, again due to persistent supply and demand issues. KBB says that while new vehicles from Honda, Kia and Mercedes-Benz averaged 6.5-8.7 percent of their sticker prices in June, those from Buick, Lincoln and Ram were sold for about ‘one percent below their recommended prices.
Clearly, models that are in short supply at dealerships, due to lack of shipped inventory and / or overwhelming demand, will not only be the hardest to find, but they will also be the hardest to kick off the lot at any kind of discount. Shoppers will find the biggest markups on red-hot models like the Ford Bronco SUV, which has been in so much demand that dealerships have stopped taking orders for model year 2022. To identify which new vehicles are currently most in demand and least available, the automotive website iSeeCars.com looked at over 224,000 transactions made in June to determine how many days a particular model remains in a dealer’s inventory before being sold.
The top of the range in this sense, the subcompact Subaru Crosstrek SUV, stays in stock for just 12.9 days before being kicked out of the lot. The industry average is currently 37.2 days, while in the pre-pandemic era 50 days were considered typical. Below we present the 20 fastest sellers.
It’s pretty much the same story with regards to used cars, where electric vehicles, hybrids and small cars are in stock for shorter intervals. According to iSeeCars.com, the Tesla Model Y crossover tops this list, staying for an average of 24.9 days before being sold. Other scant models used include Tesla’s Model 3 and Model X, the Toyota Prius and Prius Prime, and the all-electric Ford Mustang Mach-E. As a testament to his current demand, we’ve seen 2021 Mach-E’s being listed on used vehicle sites for a jaw-dropping $ 17,000 more compared to the prices of the original stickers.
In the meantime, car buyers are advised to remain opportunistic and keep both an open mind, and a wallet, to find something that comes as close to their chosen races as they want them to be equipped with. “Inventories of new cars are expected to remain limited until 2022 as microchip shortages persist and automakers struggle to meet pent-up demand,” says iSeeCars executive analyst Karl Brauer. “Buyers should act quickly if they see the vehicle they want for sale, and buyers will likely need to be flexible on color and trim options for the models they require.”
In the meantime, here are the best-selling new vehicles on the market right now, based on data from iSeeCars.com, for which buyers should expect low inventory and high prices, with their average periods of days to sell and vehicle prices. transactions noted:
- Subaru Cross Trek: 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 Forte: 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 in the 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
- Unlimited Jeep Wrangler: 24.1 days; $ 55,043
- Chevrolet pioneer: 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.