(iSeeCars) – The latest iSeeCars.com analysis found the fastest-selling new car during the month of June was the Subaru Crosstrek on a list that is predominantly comprised of small SUVs. The fastest-selling used car is the Tesla Model Y, topping a list that is dominated by alternative-fuel vehicles.
Analyzing over 224,000 new and used cars sold in June 2022, iSeeCars.com found that overall, the average new car takes 37.2 days to sell and the average used car takes 52.1 days to sell. Both new and used cars took longer to sell in June compared with May, when new cars took 33.1 days to sell and used cars took 50.4 days.
Used car prices increased 10.5 percent in June over last year and also increased slightly over last month with the average used car price in June costing $34,154 compared to $34,119 in May.
“Both new and used car prices rose in June over May as inventory constraints continue to plague the new and used car market,” said iSeeCars Executive Analyst Karl Brauer. “Rising interest rates and high gas prices have also heightened demand for more efficient and affordable vehicles.”
Fastest-Selling New Cars
iSeeCars identified the top 20 fastest-selling new cars, which sell 1.4 to 2.9 times faster than the average new vehicle and average 21.0 days on dealers’ lots. Small SUVs comprise the majority of the top 20 list, with 13 vehicles. Of the small SUVs, three are hybrids.
|Top 20 Fastest-Selling New Vehicles In June 2022 – iSeeCars Study|
|Rank||Vehicle||Average Days To Sell||Average Price|
|10||Hyundai Tucson Hybrid||22.3||$36,371|
|13||Toyota RAV4 Hybrid||23.7||$36,767|
|15||Jeep Wrangler Unlimited||24.1||$55,043|
|19||Jeep Wrangler Unlimited (Hybrid)||25.9||$62,731|
|Average For All New Vehicles||37.2||$42,706|
The fastest-selling new car is the Subaru Crosstrek, which takes 12.9 days to sell. It’s joined by three additional Subarus including the Forester compact SUV, the Impreza compact car, and the Outback compact sports wagon. “The 2022 Subaru Crosstrek subcompact SUV has soared in popularity and had a 66.4 percent increase in sales over June 2021, and the Impreza compact car had a 28.2 percent sales increase,” said Brauer. “Conversely, the Forester and Outback, which are typically Subaru’s most popular models, saw a sales decline in the wake of inventory challenges.”
Two Honda vehicles make the list including the second-ranked Civic compact car and the fourth-ranked CR-V compact SUV. “Honda is among automakers with the tightest inventory, and June sales of the Honda Civic and Honda CR-V decreased 54 percent and 45 percent respectively compared to last year,” said Brauer. “The demand for the popular small sedan and crossover is likely exacerbated by high gas prices as demand outpaces supply.”
Three Toyotas make the list including the Toyota RAV4 Hybrid compact SUV, the Toyota Camry midsize sedan, and the Toyota Highlander midsize SUV. “Demand has been high for Toyota’s fuel-efficient and hybrid vehicles, especially the RAV4 Hybrid, which had its highest sales ever for the first half of 2022,” said Brauer. “Overall, Toyota continues to struggle with inventory issues as June sales were down 17.9 percent compared to last year.”
Four vehicles from Kia-Hyundai made the list, including the Kia Telluride midsize SUV, the Kia Forte compact car, the Hyundai Tucson Hybrid compact SUV, and the Kia Sportage compact SUV. “The Kia Sportage had all-time record sales in June, the perennially popular Kia Telluride saw year over year gains despite Kia’s tight inventory levels, and a renewed interest in small affordable cars led to low inventory levels for the Kia Forte,” said Brauer. “Hyundai is also facing inventory challenges with a 13 percent decrease in June sales compared to last year, with demand for the fuel-efficient Tucson Hybrid SUV outpacing supply.”
Two recently-released small SUVs make the list including the Ford Bronco compact off-road SUV and the subcompact Chevrolet Trailblazer. “The Ford Bronco is in such high demand that dealerships stopped taking retail orders for the vehicles for the 2022 model year,” said Brauer. “General Motors changed its ordering method for the popular Trailblazer to speed up the ordering process in an effort to keep up with consumer demand for this affordable and fuel-efficient SUV.”
An additional subcompact SUV, the Nissan Kicks also makes the list. “Sales of the Nissan Kicks are down 28.2 percent over last year, and demand for the small and affordable SUV is outweighing available supply.”
Both the gasoline version and the hybrid version of the Jeep Wrangler Unlimited make the list. “Jeep’s second quarter sales were down 11 percent over last year due to inventory constraints, but the Jeep Wrangler Hybrid is the best-selling plug-in hybrid in the country,” said Brauer.
Two luxury SUVs round out the list: the compact BMW X3 and the midsize Mercedes-Benz GLE. “Supply constraints have impacted sales of the BMW X3 and raised demand for available models, as the vehicle had a 12.1 percent sales decline in the second quarter of 2022 compared to last year,” said Brauer. “The Mercedes-Benz GLE was Mercedes’ second-highest seller in the second quarter of 2022, but it had a sales decline of 13.5 percent compared to last year.”
Fastest-Selling Used Vehicles
iSeeCars also analyzed the top 20 fastest-selling used vehicles. The average used car takes 52.1 days to sell, while the top 20 fastest-selling vehicles average 31.7 days and sell 1.4 to 2 times faster than the average used vehicle. The list of fastest-selling used vehicles is evenly split between alternative-fuel vehicles and gasoline vehicles.
|Top 20 Fastest-Selling Used Vehicles in June 2022 – iSeeCars Study|
|Rank||Vehicle||Average Days to Sell||Average Price|
|1||Tesla Model Y||24.9||$69,784|
|2||Toyota Prius Prime||25.1||$31,867|
|3||Ford Mustang Mach-E||26.8||$60,881|
|5||Tesla Model 3||27.7||$52,216|
|6||Tesla Model X||28.0||$90,089|
|7||Mazda MAZDA3 Sedan||28.8||$24,890|
|9||Toyota Highlander Hybrid||32.3||$45,521|
|13||Ford F-150 Hybrid||33.0||$67,274|
|14||Honda Accord Hybrid||33.0||$31,122|
|17||Land Rover Range Rover Velar||34.0||$55,042|
|18||Toyota RAV4 Hybrid||35.0||$38,051|
|Average for All Used Vehicles||52.1||$34,629|
The fastest-selling used vehicle is the Tesla Model Y electric crossover, which takes an average 24.9 days to sell. It’s joined by two additional Tesla Models, the Model 3 and the Model X. “The earliest delivery time for a new Tesla Model Y is January 2023 for the base model and August 2022 for the performance version, which is further elevating the demand for the used versions that just entered the used car marketplace,” said Brauer. “The Model X and Model 3 have waitlists for their new versions as well, which include April 2023 for the base Model X and October 2022 for the base Model 3.”
An additional electric vehicle, the Ford Mustang Mach-E, also makes the list. “The Ford Mustang Mach-E has been in high demand since it debuted in 2021, and Ford recently stopped taking orders for new versions of the Mach-E after wait times exceeded 32 weeks,” said Brauer.
Six hybrid vehicles make the list including the Toyota Prius Prime plug-in hybrid, the Toyota Highlander Hybrid, the Ford F-150 Hybrid, the Honda Accord Hybrid, and the Toyota RAV4 Hybrid. “Just as in the new car marketplace, hybrid and plug-in hybrids are hot sellers as fuel prices continued to skyrocket in June,” said Brauer.
Three luxury vehicles make the list, including the Acura ILX, the Audi A4, the Land Rover Range Rover Velar, and the Audi Q3. “Demand for fuel-efficient small luxury SUVs and luxury sedans has also increased in the wake of high gas prices,” said Brauer.
Two sporty cars make the list including the Chevrolet Camaro convertible and the Subaru WRX compact sports sedan. “The Chevrolet Camaro and the Subaru WRX are relatively affordable performance cars that still offer reasonable fuel efficiency compared to many performance models,” said Brauer.
Four passenger cars round out the list: the Mazda MAZDA3 compact car, the Kia K5 midsize sedan, the Honda Civic compact car, and the Chevrolet Spark subcompact hatchback. “The Kia K5 was new for the 2021 model year, and demand for new versions has steadily risen, causing new models to be consistently priced above MSRP,” said Brauer. “The Mazda MAZDA3 and the Honda Civic are popular with shoppers who want a relatively affordable and fuel-efficient used car amid current used car price hikes, while the Chevrolet Spark is one of the lowest-priced used cars available.”
“New car inventory is expected to remain tight through 2022 as microchip shortages persist and as automakers struggle to meet pent-up demand,” said Brauer. “New and used car shoppers should act quickly if they see their desired vehicle for sale, and buyers will likely need to be flexible on color and trim options for in-demand models.”
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iSeeCars.com analyzed over 224,000 new and used car sales (model years 2017-2021 for used cars) from June 2022. The number of days that each car was listed for sale on iSeeCars.com was aggregated at the model level, and the average days on market for each was mathematically modeled. Heavy-duty vehicles, models no longer in production prior to the 2022 model year, and low-volume models were excluded from further analysis.
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