EVs spent an average of 70 days on dealer lots in March, while hybrids were being snapped up in just 49 days
EVs were languishing in dealer showrooms much longer than their internal combustion or hybrid competitors in March. Buyers seem to be looking for low maintenance costs and good value, meaning that Toyota s were flying off the lot. Some premium automakers are seeing rapid sales, while others struggle.
The fastest-selling new model overall was the Toyota Grand Highlander Hybrid, taking just 14.2 days to find a buyer. That seems to reflect two trends. Firstly, eight of the top 20 fastest-selling vehicles were hybrids, and 12 of them were Toyotas, suggesting that reliability and low operating costs are a priority for shoppers. It will come as no surprise then that Toyota was the fastest-selling brand in March 2024. The Japanese models waited an average of just 39.6 days before being sold.
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