All Tesla vehicles ranked in the top 10 fastest-selling used vehicles in the US in March 2022. As demand for electric vehicles from the Texas-based manufacturer continues to exceed supply, this trend will continue.
iSeeCars.com conducted research on the US used car market in March 2022 and identified the fastest-selling cars. Inflation and high gasoline prices have been observed to have a significant impact on used car sales. Supply chain issues and the impact of the Russian invasion in Ukraine further aggravated the market.
“While used car prices saw slight declines in March over February, they are still well above average, while other economic factors like inflation and high gasoline prices slowed the demand for used cars during what is typically a high-volume sales month,” said iSeeCars Executive Analyst Karl Brauer. “Inventory constraints have persisted for new cars due to supply chain issues in Asia and Europe, and the new car market is struggling to keep up with pent-up demand.”
After analyzing over 150,000 new and used vehicles sold in March 2022 in the US, iSeeCars.com found that it takes an average of 52.9 days to sell a used car. At the same time, used car sales took longer in March than in February, when sales took 49.4 days. In general, the used car market was dominated by electric vehicles.
The fastest-selling used car last month was Tesla Model X, which sold in just 28 days on average, while the resale value averaged $90,406. It was joined by other models of the manufacturer, which are available on the market today. “The earliest delivery time for a new Tesla Model X is December 2022 for the base model and August 2022 for the high-performance Plaid version, which is further elevating the demand for the used versions,” said Brauer.
Tesla Model Y is in fourth place, with an average resale rate of 29.5 days. Model S is in 7th place with an average resale rate of 34.4 days. Model 3 is in 8th place with an average resale rate of 34.7 days. Thus, all four models of the manufacturer were in the top 10, which only emphasizes their incredible popularity. As demand for Tesla vehicles continues to outstrip supply, all of the Texas manufacturer's vehicle models quickly find new owners in the used car market. “All Tesla vehicles have long waitlists for their new versions, and used versions of the highly-anticipated Tesla Model Y are just entering the used car marketplace,” said Brauer.
© 2022, Eva Fox | Tesmanian. All rights reserved.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.