ACV facts & figures
The automotive industry is in constant fluctuation. There are peaks and valleys. While this volatile market has proved to be a boom for dealerships, consumers are left scrambling to find their dream vehicle. What’s worse for them, is that when they do, they can expect to pay a premium. Dealerships are experiencing record grosses. And the market is still hot as consumers are hunting for their next automobile. But what is that next valuable piece of inventory for them? Let’s break down some new and used vehicle stats and uncover what makes consumers are shopping for, where they are most popular, and what details consumers are searching for based on ACV’s data.
The Most Popular Luxury Vehicles over $100k
First, when it comes to big price tags, which cars over $100k are the most popular? Whether you are searching out of curiosity or have the funds for a truly luxurious automobile, these vehicles garner much attention. Topping the list for makes over $100k is Mercedes-Benz. This make stands above other luxury brands in terms of sales volume on the ACV platform. Falling in a close second is Cadillac followed by Porsche, Chevrolet, and finally Land Rover.
Top Makes Selling with over 200k Mileage
But maybe a $100k car isn’t what you desire. Vehicles see a lot of miles these days. As it stands, the average vehicle on the road is currently over 12 years old. This means that there is a lot of road under the tires of modern vehicles. How much, you ask? Let’s examine the top brands selling with over 200k miles on the odometer. Toyota comes in first as the most purchased vehicle make with over 200k miles. Nipping at Toyota’s heels is Ford. Both brands share a large volume of sales on the ACV platform. Rounding out the list is Chevrolet, Honda, and Dodge.
Top Selling Vehicle Color is Black
Price tag and miles aren’t the only indicators of a vehicle’s popularity. Many dealers are buying based on color. As you can imagine, vehicles run the rainbow in terms of appearance. There are a lot of options, but one color holds the top spot on ACV. What color is that? Black. White isn’t far behind. It makes sense that these simple colors are popular. Even gray and silver top the list with red and blue falling later in popularity. Rounding out the list is yellow and purple, with pink coming in at the bottom.
Every State has a Brand Preference
Where you live also plays a factor. State by state, vehicle purchases vary in several ways. For example, in New York, Chevrolet is the most popular automobile purchased on the platform. Ford, Toyota, Honda, and Jeep all fall in line as vehicles purchased the most often. Conversely, in California, Toyota tops the list with Ford coming in a close second. Chevrolet, Honda, and Nissan round out California’s most popular vehicles purchased. All across the country, there are different wants and requirements. From coast to coast, ACV can deliver on these diverse needs.
The Most Sought After Vehicles are Not Brand New
Finally, what years are the most popular on the platform? It is wrong to think that newer is always better. Based on gross units sold, vehicles from 2018 are the most popular, comprising 8.6% of sales. 2019 comes in second at 7.3%. Curiously enough, 2014 is the third most purchased vehicle year at 7.2%. 2020 falls far down the list at 4%.
ACV has inventory for your Buyers Needs
All in all, ACV is a comprehensive marketplace where you can expect to find any number of vehicles. Whether you are looking for something a little more luxurious for your consumers, or you are wanting to find a road warrior with over 200k miles on it, ACV’s platform provides opportunities to explore, discover, and capture the inventory you need on your lot. Are you ready to dive into ACV’s awesome world of digital auctions? Get started today!