Fastest- and Slowest-Selling Car Brands in 2024
When it comes to measuring an automaker’s success, sales numbers are often the first metric that comes to mind. However, there is another crucial factor that can shed light on how well a brand’s vehicles are resonating with buyers – the speed at which they sell. iSeeCars, a leading automotive research firm, recently released a comprehensive study on the fastest- and slowest-selling car brands on the market. The findings reveal some intriguing insights into consumer preferences and market trends.
In their analysis, iSeeCars found that Lincoln, the luxury division of Ford, topped the list of slowest-selling car brands, taking an average of 82.6 days for their vehicles to move off dealership lots. This relatively long timeframe indicates that Lincoln needs to reassess its approach and better align its offerings with consumers’ demands. Coming in closely behind Lincoln were Infiniti and Buick, with average selling times of 79.8 and 79 days, respectively.
Digging deeper into the data, iSeeCars discovered that GMC, Ford, and Ram, all renowned truck manufacturers, were surprisingly low on the list. This suggests a potential decline in truck sales and raises questions about these brands’ ability to capture buyers’ interest. Karl Brauer, executive analyst at iSeeCars, hypothesizes that these slower sales figures could be attributed to a combination of factors, including higher prices and changing consumer preferences.
On the contrary, the study also identified the fastest-selling car brands in 2024. Topping the list were Toyota, Alfa Romeo, and Cadillac. These brands successfully resonate with buyers by offering both value and compelling products. Toyota’s longstanding reputation for reliability and affordability has played a significant role in its success. Meanwhile, Alfa Romeo and Cadillac have managed to create a premium image that appeals to luxury car enthusiasts.
Interestingly, the study also examined the used car market, where Honda, Lexus, and Toyota emerged as the fastest-selling brands. This signifies that these brands excel not only in selling new vehicles but also in maintaining their value and desirability in the pre-owned market. On the other end of the spectrum, Lincoln unfortunately found itself on the slow-selling used car list, sandwiched between Maserati and Alfa Romeo.
Beyond traditional gasoline-powered vehicles, iSeeCars’ analysis delved into the sales performance of electric vehicles (EVs) and hybrids. The study revealed an intriguing finding – hybrids sell much faster than EVs. In March 2024, new hybrids took an average of 49.5 days to sell, whereas EVs lingered on dealership lots for an average of 70.6 days. This discrepancy can be attributed to several factors, including the lower price point of hybrids compared to EVs. Additionally, concerns surrounding charging infrastructure and limited range could be contributing to slower EV sales.
In conclusion, iSeeCars’ comprehensive study highlights the importance of analyzing sales speeds alongside overall sales figures to gauge a brand’s success. The data showcases how certain brands succeed in capturing buyers’ attention with value-driven offerings and compelling products. On the other hand, slower-selling brands need to evaluate their strategies and address potential concerns such as high prices and changing consumer preferences. Furthermore, the disparity between hybrid and EV sales underscores the need for automakers to consider not only the environmental impact of their vehicles but also factors like pricing, range, and charging infrastructure to meet consumers’ evolving demands.