There are lots of lists of cars that are rapidly sold but consumers should be fully aware that there are also some slow-selling cars. Each year the list of slowest selling used cars changes depending on the economy, type of car, and reputation of the car manufacturer.
The COVID-19 pandemic has surely affected the automotive industry; millions of people have lost their jobs, and saving money is a priority. This behavior has also affected the used car business; some cars that used to sell within a few weeks are now on the market for months. In many cases, the reason for slow selling cars is not because of quality but because of personal finances.
Overall, the slowest selling used cars are luxury vehicles. The reason for this is that these cars are expensive, require a high degree of maintenance, and a breakdown can be very costly to repair. The regular sedans and family cars, in general, usually have a short-sell period, depending on the manufacturer.
Unfortunately, domestic cars make up the highest percentage of used cars that sit on the lot for months. Before COVID-19, used cars were usually sold within a few weeks but today, many cars (both domestic and foreign) remain on the market for 3-6 months. In 2020, the slow selling cars included the following:
- Buick Encore GX
- Ford Fusion hybrid
- Honda Fit
- Chevrolet Trax
- Kia Sedona
- Ford Fusion
- Cadillac XT6
- Lincoln Nautilus
- Buick Envision
- Volvo XC40
- BMW X2 series
- Mitsubishi Outlander
- Nissan Frontier
- Subaru
- Volkswagen
- Land Rover
Most luxury cars (especially Audi, BMW, Volvo, Mercedes, and Porsche)
Some of the reasons why used cars do not sell include:
- Poor marketing
- Seller’s habit of “nickel and dime” on the customer for every basic car accessory or feature
- Cars too expensive to maintain
- High cost of insurance
- More prone to thefts
- Poor economy
- High prices
The bottom line is that cars are sitting on the lots longer because of the economy, more than anything else. With millions of people out of work and unreliable jobs, most people are just waiting to see what happens.
Besides, car dealerships and sellers have not exactly lowered the price of used cars. By the time taxes, insurance, and registration are paid, this alone will add a few more thousand dollars to the price of a used car.
But the long-term lesson for consumers is that they should not take anything for granted. When buying a car, stick to brands that have had a solid reputation like Toyota, Honda, Hyundai, etc. These brands are known for reliability, durability, and comfort. You are more likely to see a Toyota or Honda from the 1990s on the road today than a Lexus, Audi, or a BMW.
