. The automakers most represented on the list were Toyota and Lexus, each with six vehicles in the top twenty. The fastest-selling used car was Tesla’s Model 3, with the Model S and Model X also making the list.
What’s so special about the new Hyundai Santa Cruz?
notes that the model has a towing capacity of up to 5,000 pounds and offers two all-wheel drive models. Moreover, the Santa Cruz comes with free maintenance for up to three years or 36,000 miles, whichever comes first. The front-wheel drive model starts at $23,990 and has a 2.5-liter engine.
According to Jose Munoz, Global Chief Operating Officer of Hyundai, "Santa Cruz, with its bold styling, breaks open an all-new segment territory, both for Hyundai and the industry as a whole. Open-bed flexibility coupled with closed-cabin security meets the ever-changing needs of its adventure-oriented buyers, while powerful and efficient engines and superb maneuverability ensure it is a pleasure to drive in urban or off-road environments"
Munoz adds, "Our customers will wonder just how they managed before owning one." No doubt this model accounted for much of the August sales acceleration.
According to data on over 900,000 car sales collected by iSeeCars, the typical new car took around 26 days to sell in August, while used cars took closer to 35 days. The speed of new car sales was up by more than a week from the month before, as new cars took an average of 35 days to sell in July.
The executive analyst of iSeeCars, Karl Brauer, said, "The microchip shortage is showing no signs of slowing down as major automakers continue to halt production, leading to lower and sometimes scarce inventory levels, especially for the most in-demand vehicles."
Brauer added that the recent uptick in sales speed may be due to consumers finally realizing that the chip shortage isn’t going anywhere, and biting the
The 20 fastest selling new cars on iSeeCars’s list take 2.4 to 3.3 less time to sell than the average. This works out to an average of 9.9. fewer days left unsold. Most of the top 20 are SUVs, and hybrids represent 20% of the fastest sellers.
The top five fast-selling models were the Hyundai Santa Cruz, which took an average of eight days to sell; the Chevrolet Corvette, which took an average of 8.3 days; the Mercedes-Benz GLS, which took an average of almost nine days; the Subaru Crosstrek, which took an average of nine days, and the
Brauer explains the popularity of the Santa Cruz. "The Hyundai Santa Cruz compact pickup truck just started arriving at dealerships in August, and its asking price was marked up because it is not yet widely available," reported Brauer, according to iSeeCars. "The aggressively-styled Santa Cruz truck is a niche vehicle that appeals to consumers who don’t need the full function of a traditional pickup but want the occasional cargo-hauling an open-bed offers beyond an SUV."
The Santa Cruz beat out the Chevrolet Corvette, which was July’s winner. "Demand for the mid-engine Chevrolet Corvette has exceeded supply since its launch for the 2020 model year," Brauer said.
Brauer notes, however, that the Corvette’s sales speed is still quite impressive. "Dealers stopped taking orders for the 2021 model year in March, and demand remains so high the model consistently sells for over MSRP (manufacturer’s suggested retail price), with an average price of $89,788 compared to its MSRP range of $59,900–$79,850."
Time will tell if the acceleration in car sales continues—and given that October is
Isabel is a freelance writer and editor based in Toronto. She holds a master's of English literature from the University of Toronto, where she worked as a student journalist for four years. In her free time, Isabel loves to read, write, and cook, and she serves as the blog news editor for Toronto feminist magazine Shameless. You can find her writing in places like This magazine, She Does the City, and U of T News.