Car sales collapsed at the start of the COVID-19 pandemic and remained depressed through most of last year. Among the causes were financial uncertainty and the inability of people to go to dealerships. The situation improved late last year, as American car sales began to normalize. The sales of some models, in particular, rose above their levels of a year ago. Additionally, car sales in general also got a boost because of historically low interest rates, held down by the Federal Reserve, which allowed manufacturers to offer attractive car loan terms.
To determine the fastest selling cars, 24/7 Wall St. reviewed data from car search engine iSeeCars on the new vehicles with the lowest average days to sell in March 2021. Cars purchased in March typically sat on the dealer lot for 47.4 days before getting sold. Some cars sold much faster. The fastest-selling car in America is the Chevy Corvette. The Corvette’s days-to-sell figure is 9.4, according to iSeeCars.
Car manufacturers ship vehicles to their dealers based on supply and on what the dealers believe they can sell by model. At the manufacturer’s end, supply depends in part on factory output. At the dealer end, demand is an educated guess about what the people in a market want.
The car most in-demand in the United States last month, the Chevy Corvette, is the flagship vehicle of the largest division of GM, as well as the only two-seat sports car that has been made continuously for over six decades (since 1953).
iSeeCars executive analyst Karl Brauer commented: “The fastest-selling new vehicle is the Chevrolet Corvette, which takes on average 9.4 days to sell, nearly four days faster than its February selling time. The new mid-engine Corvette is the fastest-selling new car for the third consecutive month.”
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