The Cadillac Escalade full-size luxury SUV was one of the fastest-selling vehicles during March 2024 in the United States, according to the latest report from ISeeCars.
Last month, new units of the Cadillac Escalade spent an average of 26.2 days on dealer lots, making it the eighth-fastest-selling new vehicle in the U.S. despite its relatively high average transaction price of $110,947. Meanwhile, the extended-length Cadillac Escalade ESV slotted in as the 18th-fastest-selling vehicle, spending an average of 31 days on lots with an ATP of $113,986.
The Toyota Grand Highlander Hybrid earned the title of fastest-selling new car last month at just 14.2 days, followed by direct Escalade rivals Mercedes-Benz G-Class (18.7 days) and Land Rover Range Rover (19.3 days). For comparison, new vehicles spent 54 days on dealer lots industrywide before being picked up by buyers, slowing down 21.6 percent on a year-over-year basis after years of limited supply and high turnover.
“Between the gradual drop in new car pricing and consistent slow-down in their sales pace, it’s like watching a giant machine slowly wind down,” said Karl Brauer, iSeeCars Executive Analyst. “New cars are still more expensive than before Covid, and they’re still selling at a reasonable rate, but the pendulum has clearly swung the other direction.”
Meanwhile, the used car market is picking up speed, with used vehicles selling in an average of 34.2 days. The study also found that demand for electric vehicles has cooled off significantly, as EVs typically spent 70.6 days on lots last month, while hybrids sold in 49.5 days on average.
“The average new car and new hybrid have stabilized at around 50 days to sell over the past 4 months,” said Brauer. “But fading electric vehicle demand is reflected in a slowing sales rate that’s now passed 70 days, despite EV production cuts across several automakers.”
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Frank Rizzo
Ya,because a lot don’t want EV’s