WionDrive News Desk 
In a dramatic shift from the frantic pace witnessed in recent years, new cars in the US are finding themselves spending more time idling on dealer lots, indicating a significant slowdown in the market. According to a recent study by iSeeCars, the average new car now takes 54 days to sell, with electric vehicles (EVs) clocking in at 70.6 days and hybrids at 49.5 days.
The analysis, based on 463,000 new and used car sales between October 2023 and March 2024, reveals a 21.6 percent decrease in the average days on the market for new cars, compared to a 30.5 percent increase for used cars. Karl Brauer, Executive Analyst at iSeeCars, describes this phenomenon as akin to “watching a giant machine slowly wind down,” attributing it to a gradual decline in new car pricing and a consistent deceleration in sales.
Fastest- and slowest-selling new car brands
The study also sheds light on the disparity among automakers in terms of sales pace. Toyota, Alfa Romeo, Cadillac, Honda, and Jaguar emerge as the top performers, with new cars from these brands spending between 39 and 44 days on the market. On the flip side, Ram, Audi, Buick, Infiniti, and Lincoln find themselves at the bottom of the ranking, with vehicles taking between 69 and 83 days to sell.
Shifts in used car market dynamics
Similar trends are observed in the used car market, with premium automakers consistently among the slowest-selling brands. Notably, Alfa Romeo transitions from one of the fastest-selling new brands to one of the slowest-selling used brands. Japanese brands dominate the list of fastest-selling used cars, with Honda, Lexus, Toyota, Tesla, and Acura leading the pack.
New car days to sell over the past six months
The study highlights a continued slowdown in new car sales, attributed to rising interest rates and reduced consumer spending power due to inflation. While new hybrids maintain a stable sales pace, the demand for electric vehicles shows signs of weakening, with the average new EV taking over 70 days to sell.
Used car days to sell over the past six months
In contrast, the used car market is experiencing an uptick in speed, with cars selling in approximately 34.2 days, nearly twice as fast as two months ago. Despite a slightly slower pace for used EVs, hybrids maintain an advantage, selling faster than the average used car.
As the automotive landscape undergoes profound shifts, driven by economic factors and changing consumer preferences, automakers and dealerships must adapt to this evolving market dynamic to stay competitive.
