Tesla Model Y Singapore

Tesla Model Y is the fastest-selling used car on the market: study

Credit: Tesla

Tesla dominated the used vehicle market in June 2022 with its Model Y mid-size SUV. The fasted-selling used vehicle was the Model Y last month, in a list ruled by electric vehicles and hybrids. 

According to an iSeeCars study, the average used car took 52.1 days to sell in June 2022–a little longer compared to May, when used cars took 50.4 days to sell. 

“Both new and used car prices rose in June over May as inventory constraints continue to plague the new and used car market. Rising interest rates and high gas prices have also heightened demand for more efficient and affordable vehicles,” said iSeeCars Executive Analyst Karl Brauer. 

The study analyzed 224,000 new and used cars sold last month and found that used car prices increased by 10.5% compared to June 2021. The average price for used cars also slightly increased compared to May 2022 from $34,119 to $34,154 in June 2022. 

Used Tesla Model Y Sales

Despite being well above the price of the average used car, the Tesla Model Y was the best-selling vehicle in the market. Used Tesla Model Y vehicles sold for an average price of $69,784. For comparison, a new Tesla Model Y AWD Long Range costs $65,990, while the Performance variant starts at $69,990—as of this writing.

The study compiled a list of the top 20 fastest-selling used cars. Cars on the list sold after an average of 31.7 days, selling 1.4 to 2 times faster than other used vehicles. Used Tesla Model Y vehicles sold after around 24.9 days on average. 

Brauer speculates that the estimated delivery dates for new Tesla Model Y units are “elevating” demand for used versions. The estimated delivery time for a new Model Y Long Range is between January and April 2023. The Performance variant’s delivery estimates lie between August to October 2022.

Besides the Model Y, Tesla’s used Model 3 and Model X cars also made it onto the study’s list. Used Model 3 vehicles came in 5th place, selling at an average of 27.7 days at around $52,216. Meanwhile, used Tesla Model X units took about 28 days to sell on average at around $90,089. 

The Teslarati team would appreciate hearing from you. If you have any tips, contact me at maria@teslarati.com or via Twitter @Writer_01001101.

Tesla Model Y is the fastest-selling used car on the market: study
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