Page 44 - GIADA May-June 2020

FEATURE

Used-vehicle sales slowdown:

These models have taken a hit

By Auto Remarketing Staff

Car sales have seen a big slowdown as a Honda is the most represented car brand Ly continued, “The Model X is the most
result of the COVID-19 pandemic. That is on the list with five vehicles, followed by expensive vehicle on the list, with an
especially true for the Tesla Model 3 electric Toyota with four. average price of $70,162 for three-year-
vehicle. old versions. Demand may additionally be
But regarding Tesla, iSeeCars chief lowered because potential buyers could be
From February to March, that model has executive officer Phong Ly said the vehicle waiting for the release of the lower-priced
experienced a drop of almost 25 percentage is typically in high demand. Because of Model Y SUV that started deliveries in
points for its inventory selling within 30 that, it is the used vehicle with the best March 2020.”
days of being listed. resale value, Ly said.
Prime negotiation opportunities for
That is according to iSeeCars’ latest study, “However, because they are lingering on consumers
titled, “Cars with the Greatest Slowdown in lots, now is the time when dealers may offer For the study, iSeeCars analyzed more than
Sales Due to COVID-19,” which it released more deals than usual,” Ly said in a news 1.8 million used cars for sale in February
on Wednesday. release. and March to determine the models with
the most significant slowdown in sales,
According to the study, a mix of alternative- The Tesla Model X also made the list, or models with the largest drop in the
fuel vehicles along with cars and SUVs of showing the fifth-greatest slowdown in sales. percentage of cars sold within a month of
varying sizes make up the list of the top 15 being listed.
cars experiencing the greatest slowdown in “Like the Model 3, the Model X is also in
sales between February and March. high demand,” Ly said.

iSeeCars Top 15 Cars With Greatest Slowdown in Sales

42 | GIADA Independent Auto Dealer MAY/JUN 2020