These days with microchip shortages and COVID-related assembly line closures everything is selling fast. There are not enough new cars to go around-either new or used. But these three used cars selling extremely fast, based on the amount of time listed in classifieds.
These three used cars are based on the number of days for sale
In fact, the three fastest-selling used cars in July 2021, are all EVs. iSeeCars looked at 2016-2020 vehicles listed in ads, classifieds, and online to tabulate the number of days they’re listed. The top used vehicle selling in July is the Tesla Model 3.
It took an average of 15.7 days to sell, in spite of selling prices well above the cost of a new model. The average selling price is just under $47,000. Even first-year 2018 Model 3s were averaging $45,291. A new 2021 Model 3 lists for $39,990. And a long-range 2021 Model 3 list for $51,190.
And this wasn’t the only month the Model 3 topped the charts. It has been there for five months in a row. So in 2021, it may be the fastest-selling used car of the year.
Number two is the Chevy Bolt
Next up is the Chevy Bolt EV at number two. Its listing time was 20.8 days on average. The average transaction price is right at $22,000. For comparison, the new 2021 Bolts list for $39,500.
And the Bolt is selling well despite all of the press swirling around Bolt fires. In fact, today GM announced it is replacing every battery in every Bolt since 2017. Yet, used Bolts sell well under a month on average. Plus, the facelifted 2022 Bolt EV is already out, yet it hasn’t slowed down used bolt sales, either.
Slightly behind the Bolt is the Tesla Model S. The average amount of time listed was only 21.3 days. Prices for these used Model S EVs averaged $64,205. Even though older Model S sedans lack some of the improvements found in later models, it hasn’t slowed down sales.
Two of the top three fastest-selling used cars are Teslas
Some even wonder if the launch of the Model S Plaid has increased exposure and interest in the sedan. It made its debut in 2012 which makes it 10 model years old. New Model S sales have been dwindling over the past few years.
Tesla’s top new car sellers are the Model 3 and Model X. This is largely assumed to be because of their lower prices. In the second quarter of 2021, Tesla sold over 200,000 cars across all of its lines.
If you’re curious about other hot-selling used cars, here you go. Number four is the BMW 4 Series. At numbers five and six are the Toyota Highlander Hybrid and Mazda Miata. Rounding out the top 10 are the Tesla Model X, Honda Clarity plug-in hybrid, Volkswagen Golf GTI, and MINI convertible.