ACV facts & figures
This content has been reviewed and updated on October 12, 2023.
Investing in quality used or certified pre-owned inventory is crucial for any dealership. But keeping a car on the lot for an extended period is expensive. So, what used cars sell the fastest in 2023?
iSeeCars studied used car sales in August 2023 to answer that question¹. Compared to 2022, used cars are selling faster this year, on average, while new car sales have slowed down². Although new car inventory is back up after production delays and buyers have plenty of options to choose from, they’re turning to used cars to look for better value. Another major trend over the last year has been slowing sales for new and used electric vehicles despite significant price drops³.
Additionally, it’s important to consider inventory and trends within the market. Some dealers may have a larger in-stock inventory on the lot, whereas others may have fewer model options available for purchase. This is based on demand, whether those vehicles meet the needs of local shoppers, and finances for purchase. Slower production times may also influence trends as well.
So, hop in and let’s cruise through the top ten fastest-selling used cars in August 2023. This way, you can buy used cars online and start stocking.
Which Used Cars Are Selling the Fastest in 2023?
10. Toyota Sienna Hybrid
A stylish minivan that stands out from the rest of the pack, the Toyota Sienna is one of this year’s best-selling used cars. Class-leading fuel efficiency makes the Sienna an optimal choice for frugal shoppers looking for a reliable family vehicle.
- Vehicle type: Minivan
- Engine type: Hybrid
- Drive type: Front or all-wheel drive
- Average days on lot: 39.1
- Average price: $44,233
9. Toyota C-HR
The Toyota C-HR is a comfortable, affordable sedan that boasts excellent fuel economy. Buyers can take advantage of the touchscreen infotainment system and drive confidently, knowing the C-HR has a strong safety rating.
- Vehicle type: Sedan
- Engine type: Gas
- Drive type: Front-wheel drive
- Average days on lot: 38.9
- Average price: $23,462
8. Honda Civic
The Honda Civic is consistently one of the most popular small sedans in the United States thanks to its fuel efficiency and stylish features. It’s no surprise the Civic ranks among the fastest-selling used cars in 2023.
- Vehicle type: Sedan
- Engine type: Gas
- Drive type: Front-wheel drive
- Average days on lot: 38.8
- Average price: $24,619
7. Honda CR-V
The Honda CR-V shines by combining modern technology like Apple CarPlay and Android Auto, plenty of cargo space, and excellent fuel efficiency.
- Vehicle type: SUV
- Engine type: Gas or optional hybrid
- Drive type: Front- or all-wheel drive
- Average days on lot: 38.5
- Average price: $28,660
6. Honda Insight
The Honda Insight is a reliable little sedan that’ll get you where you need to go. Plus, it’s yet another hybrid to round out the list. The Insight was also present on the 2022 list of fastest-selling used cars, but sales have slowed since then, dropping from second in 2022 to sixth place in this year’s list.
- Vehicle type: Sedan
- Engine type: Hybrid
- Drive type: Front-wheel drive
- Average days on lot: 38.3
- Average price: $26,853
5. Hyundai Venue
The Hyundai Venue is the cheapest of all the vehicles on this list, but it offers considerable value to vehicle buyers for that low price. Despite its small exterior, the Venue has a spacious and comfortable interior. It also offers a user-friendly infotainment system and driver assistance technology, among other features.
- Vehicle type: SUV
- Engine type: Gas
- Drive type: Front-wheel drive
- Average days on lot: 38.0
- Average price: $19,764
4. Acura RDX
For vehicle buyers looking for a compact SUV that offers more features than the Honda CR-V while remaining affordable, the Acura RDX is the obvious choice. This SUV is sporty and fun to drive, with plenty of optional driver-assistance features to enhance the experience further.
- Vehicle type: SUV
- Engine type: Gas
- Drive type: All-wheel drive
- Average days on lot: 36.8
- Average price: $35,864
3. Toyota Highlander Hybrid
The Toyota Highlander Hybrid is a smooth, fuel-efficient option for vehicle buyers who value practicality.
- Vehicle type: Mid-size SUV
- Engine type: Hybrid
- Drive type: Front- or all-wheel drive
- Average days on lot: 36.6
- Average price: $42,119
2. Acura ILX
The Acura ILX offers vehicle shoppers a luxury compact sedan at an appealing price point. Fuel efficiency and a smooth ride are two key reasons why the Acura ILX ranks so highly among the fastest-selling cars of 2023.
- Vehicle type: Sedan
- Engine type: Gas
- Drive type: Front-wheel drive
- Average days on lot: 35.3
- Average price: $26,091
1. Honda HR-V
Topping the list of the fastest-selling used cars in 2023 is the Honda HR-V. This comfortable SUV handles well and is a practical, affordable option for drivers.
- Vehicle type: SUV
- Engine type: Gas
- Drive type: Front-wheel drive
- Average days on lot: 34.4
- Average price: $24,496
Stock Used Car Inventory That Sells Fast
While the fastest-selling used car model can fluctuate monthly, the trends remain. It’s clear that affordable used SUVs and sedans are in high demand, and it’s as important as ever to source cars with great resale value. Between rising interest rates and new car prices, consumers are turning to used vehicles to find the best value.
Take this trend and car list into account as you stock your dealership’s inventory and start looking at online car auctions. We look forward to helping your dealership stay competitive in this evolving automotive industry! Start searching for these vehicles and more by registering for ACV Auctions.
Sources
- Fastest-Selling New and Used Cars in Today’s Market. iSeeCars. Retrieved October 3, 2023, from https://www.iseecars.com/fastest-selling-cars-stud
- Morris, C. (22 August 2023). Used cars are selling faster, while new cars spend more time on the lot than a year ago. Fortune. Retrieved October 3, 2023, from https://fortune.com/2023/08/22/used-cars-new-cars-sales-2023/
- Teague, C. (August 22, 2023). These are the fastest-selling used vehicles of 2023. Autoblog. Retrieved October 3, 2023, from https://www.autoblog.com/article/fastest-selling-used-cars-2023/
