After years of limited supply and rapid turnover, new cars are now languishing on dealer lots. The average new car sells in 54 days, while new EVs take 70.6 days and new hybrids sell in 49.5 days, according to a recent study by iSeeCars.
The analysis of 463,000 new and used car sales from March 2024 found a 21.6 percent slowdown in average days on market for new cars compared to a 30.5 percent increase for used cars.
“Between the gradual drop in new car pricing and consistent slow-down in their sales pace, it’s like watching a giant machine slowly wind down,” said Karl Brauer, iSeeCars Executive Analyst. “New cars are still more expensive than before Covid, and they’re still selling at a reasonable rate, but the pendulum has clearly swung the other direction.”
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