If anyone was still doubting that SUV’s were the most in demand cars and especially crossovers, this information will serve as fresh evidence to prove that claim. Its the reason tradition sport car companies like Lamborghini and Ferrari are launching SUV’s for the first time in history, even luxury brands like Bentley and Rolls Royce have gone for a piece of the SUV market pie.
According to a study from iSeeCars.com for the month of March, crossovers were the fastest-selling cars. The company’s data is based on over 150,000 new and used vehicle sales in the US.
The results found that Honda CR-V was the quickest-selling vehicle in the US with an average of just 7.6 days on the lot before finding a buyer. The average transaction price for a CR-V in March was $33,073. For comparison, the Honda crossover comes with a base price of $27,625 after the $1,225 destination fee. The high trim version is CR-V Touring which goes for $37,425.
Hyundai’s luxury brand Genesis took the second place with their GV70 SUV. It remained for an average of 12.2 days on the lot.
Toyota took the remaining 3 spots to round up the top 5. The high end Toyota brand, Lexus, took third spot with their RX 350 with 13.0 days before finding a buyer. Toyota Highlander was fourth at 13.6 days and to break the trend, a sedan took fifth place, the Toyota Camry with 15.1 days to sell, this effectively makes it the fastest selling sedan.
Interestingly, the first pickup on the list was the Ford Maverick hybrid on the seventh place. What makes this interesting is that pickup trucks in the US usually fly off the shelves.
Moving on to used cars, the study showed that most buyers went for either fuel efficient cars or electric vehicles. This could have been influenced by the high gas prices in the month of March.
Top of the used car list was Tesla Model X, it was the quickest seller with an average of 28 days before being bought. The average transaction price was $90,406, a new one starts at $140,440.
The Honda Insight came in second place at 28.9 days to sell on average. The Hyundai Ioniq Hybrid was third by waiting 29.4 days. The Tesla Model Y was fourth at 29.5 days and lastly, the Toyota Prius Prime took fifth spot at 32.8 days.
The study concluded that on average, a new model was at dealers for 35.5 days and a used car to 52.9 days for the month of March.