America’s love affair with trucks and crossovers is well established at this point and it’s a key reason that Ford has decided to drop sedans in North America.
However, an interesting new study from iSeeCars has revealed that the fast selling late model used vehicle isn’t a truck or crossover. Instead, it’s the Toyota Prius C which is largely ignored by new car shoppers.
After analyzing over four million transactions of vehicles between one and three years old, iSeeCars found that used Prius C models are only on the market for an average of 29.6 days. This beats the fastest selling crossover (Toyota RAV4 – 36.6 days) and the fastest selling pickup (Honda Ridgeline – 39.3 days).
In fact, all ten of the fastest selling cars beat the fastest selling truck and crossover. Besides the Prius C, other fast moving cars include the Tesla Model S (32.4 days), BMW i3 (33.4 days) and Toyota Prius (33.4 days). If you’re noticing a trend, you should – all five of the fastest selling cars were hybrid or electric vehicles as the fifth place model was the Chevrolet Volt.
iSeeCars suggests the demand for used cars is driven by affordable prices which are significantly lower than purchasing new. In particular, the website says the average price for a late model BMW i3 is $23,964 while a new model averages $53,503. Likewise, used Chevrolet Volts cost around half as much as new models without incentives factored in.
Getting back to crossovers, the Toyota RAV4 was closely followed by the Honda CR-V (36.9 days) and Lexus RX 450h (37.9 days). On the truck side, the Honda Ridgeline led the Toyota Tacoma (42.1 days) and Toyota Tundra (46.6 days).
The average late model used vehicle spends 46.4 days on the market, but some vehicles take significantly longer to sell. The Porsche Cayenne took the longest time as they’re typically on the market for 67.8 days before being sold. Two Buick models – the Regal and LaCrosse – weren’t far behind.