Used car salespeople make their money by buying pre-owned cars and selling them as quickly as possible. The longer a car sits on the lot without a sale, the less money the seller makes. A recent report shows that their eyes should light up when someone drives an electric vehicle onto their lot for sale.
Automotive data and research company iSeeCars.com analyzed more than 2 million used cars sold (within one to three years of initial purchase) in the first half of 2016. Overall, they found that one- to three-year-old used cars took an average of 42.4 days to sell. The top three fastest-selling cars on the pre-owned car market, all of which are electric vehicles, sold in roughly half that time.
“For these fastest-selling cars, the market may have hit a sweet spot where the pricing of these particular alternative fuel cars has dropped enough to make these cars more desirable,” said iSeeCars.com CEO Phong Ly.
Additionally, after many years of alternative fuel vehicles on the market, consumer confidence in the performance, range, safety, and battery life of these vehicles is strong. So, if you are in the market for a pre-owned electric vehicle, you had better move fast. That car you’ve had your eye on won’t sit on the lot for long.