Tesla’s all-electric SUV Model Y is apparently the fastest-selling used EV in the United States, iSeeCars.com’s study showed.
Study highlights
Online automotive research platform iSeeCars.com evaluated more than 228,000 new and used car sales from July 2023. Then, it aggregated each car’s days spent on the website before being sold. It also monitored the average number of days each vehicle spent in the market.
The study revealed that used cars sell longer in the market than new cars on average.
“Used car prices were initially driven up by a lack of new car inventory. Now there are plenty of new cars on dealer lots, but consumers aren’t rushing out to buy them. The new car average time-to-sale is down by more than 25%, even as used cars are selling 6.1% faster. This shows buyers are continuing to seek value in the used car market – despite a wide range of new car options.”
Karl Brauer, iSeeCars Executive Analyst
Presented below are 1-5-year-old used EVs’ average days on the market and average price:
| Month | Avg. Days on Market | Avg. Price |
| July 2022 | 26.4 | $64,049 |
| July 2023 | 57.8 | $39,156 |
| Year-over-Year Change | 119.5% | -38.9% |
They also indicated that the average period to sell used EVs last year was only 26.4 days. Alarmingly, it rose by a whopping 120% to 57.8 days today despite the 38.9% price decline over the prior year.
Unsurprisingly, the popular Tesla Model Y was the fastest-selling among the 1-5-year-old used models in the US market. Refer to the table below:
| Rank | Model | Avg. Days on Market | Avg. Price |
| 1 | Tesla Model Y | 47.6 | $46,067 |
| 2 | Nissan LEAF | 51.3 | $20,483 |
| 3 | Tesla Model 3 | 51.8 | $35,039 |
| 4 | Chevrolet Bolt EV | 54.3 | $21,949 |
| 5 | Tesla Model X | 71.4 | $70,835 |
| 6 | Ford Mustang Mach-E | 75.8 | $42,503 |
| 7 | Tesla Model S | 88.3 | $65,216 |
As you can observe above, the Tesla Model Y stayed available in the market for 47.6 days for $46,067 on average. Nissan Leaf followed it with 51.3 days and a $20,483 average price. Another Tesla, Model 3, landed third spot with 51.8 days for $35,039.
Meanwhile, below are the fastest-selling new EV models (excluding Tesla):
| Rank | Model | Avg. Days on Market | Avg. Price |
| 1 | Chevrolet Bolt EUV | 29.1 | $34,218 |
| 2 | BMW i4 | 30.5 | $63,736 |
| 3 | Hyundai Ioniq 6 | 39.1 | $51,439 |
| 4 | Audi Q4 e-tron | 41.3 | $61,118 |
| 5 | Hyundai Ioniq 5 | 47.6 | $52,550 |
| 6 | Audi Q8 e-tron | 48.5 | $83,640 |
| 7 | Mercedes-Benz EQE | 49.8 | $84,762 |
| 8 | Ford Mustang Mach-E | 50.4 | $60,015 |
| 9 | Volkswagen ID.4 | 52.0 | $48,734 |
| 10 | Toyota bZ4X | 53.5 | $48,718 |
| 11 | Mercedes-Benz EQS | 55.0 | $125,680 |
| 12 | Kia EV6 | 57.9 | $55,225 |
| 13 | Bmw iX | 58.4 | $102,632 |
| 14 | Kia Niro EV | 59.4 | $43,944 |
| 15 | Subaru Solterra | 60.0 | $48,592 |
| 16 | Hyundai Kona Electric | 61.1 | $40,149 |
| 17 | Ford F-150 Lightning | 61.9 | $81,627 |
| 18 | Mercedes-Benz EQB | 65.7 | $61,694 |
| 19 | Mercedes-Benz EQS | 65.7 | $118,343 |
| 20 | Nissan Ariya | 71.3 | $51,638 |
| 21 | Nissan LEAF | 95.2 | $32,770 |
Despite the longer days used EVs stay in the market, Executive Analyst Brauer noted that it could offer substantial benefits for customers.
“The good news for electric vehicle buyers is that EVs are both cheaper and harder to sell in 2023, putting pressure on automakers and dealers to move them in a market that appears to have lost interest. Both new and used EVs are taking more than 50 days to sell on average, meaning it takes more than twice as long for dealers to find EV buyers compared to a year ago.”
Karl Brauer, iSeeCars Executive Analyst
See Also:
- New EV Record High for France: Tesla Model Y as Bestseller
- Tesla Model Y receives Residual Value Award in European BEV SUV category
- Tesla Model Y receives the “Best Car for Families 2023” award
- Tesla Model Y advances as the world’s best-selling car in Q1 2023
- Tesla Model Y leads the Chinese all-electric SUV market in March
Tesla Model Y’s significant lead in the used EV market is unsurprising as it also dominates the new car market. EV-a2z reported that the Model Y was the world’s top-selling car in Q1 2023. It continues to report unprecedented sales and delivery up until now.
