CHARLOTTE, N.C. — If you’re in the market for a new car, be prepared to burn rubber.
According to iSeeCars.com, the microchip shortage continues to impact the auto industry, causing new car production to slow, and creating a dip in supply. Less supply means more competition for the vehicles that dealers are able to get on the lot.
New vehicle sales
iSeeCars.com analyzed more than 224,000 new and used car sales in June 2022 and found that the average new car sells in 37.2 days while it takes 38.4 days for the average used car to sell. However, there are certain makes and models that sell much more quickly.
Here are the fastest selling new vehicles in Charlotte according to their data:
- Ram 1500: 12.6 days on average to sell
- Jeep Wrangler Unlimited: 15 days on average to sell
- Hyundai Palisade: 20.3 days on average to sell
- GMC Terrain: 20.3 days on average to sell
- GMC Acadia: 23 days on average to sell
None of the fastest-selling new vehicles in the Charlotte area listed here are sedans or hatchbacks. In fact, all but one of these - the Ram 1500 pickup truck - are SUVs.
The trend of new SUVs selling quickly is true across the country; iSeeCars said three of the top five fast-selling vehicles are SUVs: the Subaru Crosstrek takes the top spot, the Subaru Forester at third, and the Honda CR-V is fourth. The Honda Civic and Subaru Impreza are at second and fifth, respectively. Both are sold as either four-door sedans or hatchbacks.
Used vehicle sales
Last week, WCNC Charlotte shared more about the state of used car prices in the Charlotte area. iSeeCars said prices on a new-to-you set of wheels went up 8.6% from July 2021 to July 2022.
Here are the fastest selling used vehicles in Charlotte according to iSeeCars.com data:
- Volkswagen Jetta: 13.1 days on average to sell
- Honda Civic Sedan: 14.3 days on average to sell
- Nissan Versa: 15.9 days on average to sell
- BMW X5: 16.1 days on average to sell
- Kia Forte: 16.3 days on average to sell
WCNC Charlotte is always asking "where's the money?" If you need help, reach out to WCNC Charlotte by emailing email@example.com.