We are sailing into 2021, with 2022 looming on the horizon, and new car sales are still wobbly. Cars continue to fly off dealerships as consumers gobble up the few that make it into production as chip shortages continue to hamper automakers. But not all cars sell as fast as others. The Chevrolet Corvette was again the new quick-sell vehicle for July, but the Hyundai Santa Cruz replaced it for August.
The data comes from iSeeCars.com, and it showed that cars started selling much faster in August than before. It took an average of 26 days to sell a new car in August, faster than the 35-day average in July. That’s a measurable amount of shrinkage, and it could be an indicator of a worsening chip and parts shortage plaguing the industry. Cars like the Santa Cruz lead the way, taking an average of only eight days to sell. Just behind it in August was the Corvette, which took 8.3 days on average.
“The microchip shortage shows no signs of slowing down as major automakers continue to shut down production, resulting in lower and sometimes scarce inventory levels, especially for vehicles in high demand,” said iSeeCars Executive analyst Karl Brauer. “It looks like car buyers who initially expected prices to drop have figured out that inventory shortages are here to stay, at least for the next few months.”
The Corvette was the only American-branded model to make the top 10 in the study, which analyzed more than one million new car sales last month. On the bumper of the Chevrolet were the Mercedes GLS, the Subaru Crosstrek, the Toyota RAV4 and the Toyota Sienna. The top 10 selling cars took an average of less than 10 days to sell, a trend that appears to continue over the next few months.