The Tesla Model S may go the distance at a rapid pace, but buyers just don’t seem to be going for it right now.
Love is a fickle thing, and so are car shoppers, as it turns out.
According to data from research firm iSeeCars, folks are leaning harder into the used market this past year, as prices finally come back down to Earth and new car MSRPs their steady upward march. These days, the average cost for a new vehicle is $45,936, while 1 to 5-year-old used cars are trading at $32,249 — a notable 30% less. While that is the average, not every car sees a similar level of interest from would-be buyers. In fact, some cars take upwards of three months to sell, or roughly 2.5 times longer than the average 38.9 days on the market your typical used car sits on the lot.
So, which are the fastest and slowest sellers? Unlike the fastest-selling new cars, the most popular used vehicles do trend toward value-focused models, as you’d expect. That said, bottom-line price isn’t necessarily king here, as a couple relatively cheap used cars aren’t drawing in buyers based on sticker alone.
Here are the slowest-selling used cars right now
Before digging into iSeeCars‘ data, it’s worth noting that we’re looking at trends between July 2022 and July 2023. This study focuses on year-over-year changes, mainly as a representation of how new and used car prices are shifting compared to a time when we were still feeling ripple effects from the COVID-19 pandemic. Now, analysts predict used car demand will remain strong, but prices should continue to slowly drop over the upcoming year.
For reference, the average used car spends 38.9 days on the lot (26% longer than July 2023, showing some slowdown), and trades for an average of $32,249.
| Rank | Model | Average Days on Market | Average Price |
|---|---|---|---|
| 20 | Audi Q8 | 60.1 | $55,099 |
| 19 | Ford EcoSport | 60.1 | $19,755 |
| 18 | Cadillac XT6 | 60.4 | $42,946 |
| 17 | Lincoln Nautilus | 60.6 | $38,329 |
| 16 | Chrysler Voyager | 60.6 | $24,505 |
| 15 | Ford Edge | 60.9 | $27,964 |
| 14 | Alfa Romeo Giulia | 61.0 | $29,911 |
| 13 | Chevrolet Silverado 1500 LD (third-generation) | 61.2 | $46,399 |
| 12 | BMW 5 Series | 61.4 | $37,545 |
| 11 | Jeep Wrangler Unlimited | 62.5 | $49,709 |
| 10 | Buick Enclave | 64.3 | $32,075 |
| 9 | Chrysler 300 | 64.7 | $25,021 |
| 8 | Chevrolet Blazer | 65.9 | $31,644 |
| 7 | Range Rover | 68.4 | $75,060 |
| 6 | Tesla Model X | 71.4 | $70,835 |
| 5 | Cadillac XT4 | 71.9 | $31,650 |
| 4 | Land Rover Discovery Sport | 73.6 | $30,206 |
| 3 | Ford Mustang Mach-E | 75.8 | $42,503 |
| 2 | Buick Envision | 82.3 | $29,057 |
| 1 | Tesla Model S | 88.3 | $65,216 |
A few surprising takeaways
Among the top 20 slowest-selling used cars, the Tesla Model S takes the title at 88.3 days on the market, on average. While Tesla’s flagship sedan does boast over 400 miles on a charge in its longest-range configuration, it is getting long in the tooth by now. Used prices are indeed lower than buying a brand-new example for $78,490 (for the new Standard Range version), but you’re still paying more than $65,000 for a used electric car. Buyers, by and large, don’t seem willing to do that, according to this data. It’s a similar story with the Model X, which is even more expensive.
Some relatively new models also make the slow sellers’ list, though, including the Ford Mustang Mach-E. Part of the reason used examples are languishing on dealer lots could be that Ford isn’t selling as many new Mach-Es either — 2023 sales are down 20% as of June — and weaker tax credit incentives on used electric cars.
Interestingly, one of the fastest-selling new cars, the Range Rover, is also one of the slowest-selling models on the second-hand market. Many of the other cars featured here, including the Chrysler Voyager as well as Buick’s larger crossovers and the Audi Q8 could be down to a weaker marketing push compared to some of their competition, as well as decent supply or incentives on new models. I think the Chrysler 300 is a good case in point of that theory, since folks are keen to get new examples before production ends on December 31 (making used cars tougher to sell quickly).
The fastest-selling used cars on the market right now are…
Generally speaking, the industry’s target inventory supply is around 60 days. While the slower sellers hang around dealer lots at least twice that long, the fastest-selling used cars don’t have that issue, even at the bottom-end of the list. The Toyota 4Runner, always a strong seller on the new market, finds a strong demand for buyers on the used market as well thanks to their nearly bulletproof reputation for durability.
| Rank | Model | Average Days on Market | Average Price |
|---|---|---|---|
| 20 | Toyota 4Runner | 40.7 | $40,851 |
| 19 | Cadillac Escalade ESV | 40.5 | $66,331 |
| 18 | Honda Accord | 40.5 | $26,816 |
| 17 | Acura MDX | 40.4 | $38,279 |
| 16 | Chevrolet Corvette | 39.9 | $82,574 |
| 15 | Honda Pilot | 39.9 | $34,749 |
| 14 | Acura TLX | 39.8 | $32,380 |
| 13 | Kia Telluride | 39.7 | $39,838 |
| 12 | GMC Yukon | 39.4 | $56,637 |
| 11 | Toyota Tundra | 39.1 | $45,110 |
| 10 | Toyota Sienna (Hybrid) | 39.1 | $44,233 |
| 9 | Toyota C-HR | 38.9 | $23,462 |
| 8 | Honda Civic | 38.8 | $24,619 |
| 7 | Honda CR-V | 38.5 | $28,660 |
| 6 | Honda Insight | 38.3 | $24,567 |
| 5 | Hyundai Venue | 38.0 | $19,764 |
| 4 | Acura RDX | 36.8 | $35,864 |
| 3 | Toyota Highlander Hybrid | 36.6 | $42,119 |
| 2 | Acura ILX | 35.3 | $26,091 |
| 1 | Honda HR-V | 34.4 | $24,496 |
Even though Honda’s new cars aren’t flying off dealer lots (none of its models made the top 20 fastest-selling new cars list), the automaker utterly dominates the used market, at least in terms of turnover. Not only do familiar names like Accord, Civic and CR-V pop up here, but pretty much Acura’s entire lineup, short the NSX obviously, appears here. If anything, iSeeCars’ study lends credence to why Honda and Acura models enjoy strong resale values: Even if they’re a few years old, people still want them.
As you’d expect, Toyota also makes a strong case for itself among the fastest-selling used cars. When it comes to buying a car that’s a few years old, where you’re focusing on bang for your buck, people gravitate toward brands with better reputations for reliability.
