The full-electric Fiat 500e isn’t particularly quick, but it is a quick seller in the used-car market, taking just 22.2 days on the market to change hands.
In an earlier post, we documented several reasons why it can be a smart move to buy a used electric car. Apparently, there’s one problem with that sage advice, namely they can be hard to find, especially since plug-in cars are now among the quickest-selling pre-owned models on a dealer’s lot.
According to an analysis of over 2.1 million sales of one-to-three-year old used cars conducted by the used-vehicle website iSeeCars.com, six of the 10 vehicles that spend the fewest days on the market all connect to the grid, being either full-electric or plug-in hybrid models. The remaining four are split evenly between sports cars and luxury models.
The quickest-selling used car these days is the battery-powered Fiat 500e. Sold only through Fiat dealers in California and Oregon when new, and remaining in limited availability in the used-car market, it takes an average of just 22.2 days to sell a pre-owned 500e. That’s a third quicker than the 33.4 days it takes the average late-model used car to change hands. It sells for an average of $9,055, according to iSeeCars.com, which makes it ideal as a cheap-to-run second or third car in a family’s fleet. According to the website’s CEO Phong Ly, “Prices for hybrids, plug-ins, and electric vehicles are more affordable than ever, so shoppers who are ready to buy one should act fast because these cars are in great demand now.”
We’re featuring the top 10 list of America’s quickest-selling used cars in the accompanying gallery.
Other electrified autos on the list include the BMW i3, Toyota Prius Plug-in, Nissan Leaf, and the Ford Fusion Energi. And, as one might guess, the Tesla Model S makes the cut, though we were surprised it wasn’t ranked higher than 10th place, given its cult-like following. And that’s even with a resale value that’s still relatively steep; according to NADAGuides.com an average 2015 used Model S retails for $58,700, “Tesla’s popularity, along with the scarcity of the Model S on the used car market, is probably driving prices up while cars continue to sell quickly,” Ly says.
The gasoline powered models on this year’s quick-sell list of used vehicles are both distinctive and in demand, including the Lexus IS 200t sedan, the coupe-like Mercedes-Benz GLC-Class crossover SUV, and both the Hyundai Veloster Turbo and Scion FR-S (now called the Toyota 86) sporty cars. “Vehicles that move off dealer lots faster must have the right mix of demand and supply that may be driven by factors like price, unique features, and performance,” says Ly.
Curiously perhaps, many of the industry’s top-selling models actually linger with “For Sale” signs on their windshields for longer than the average 33.4 days. That includes SUVs like the Ford Explorer (34.4 days) and the Jeep Grand Cherokee (34.5 days), along with what are the three most popular rides of all, the Ford F-150 (35.5 days), Chevrolet Silverado 1500 (33.7 days), and the Ram 1500 (37.0 days) full-size pickup trucks. “The more expensive SUVs and trucks all take more than 33 days to sell, compared to the cheaper sedans, again illustrating the effect of price on moving cars off of dealers’ lots,” Ly explains.