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A new study by our friends at iSeeCars confirms with data what many have been observing: Electric vehicles are the slowest-selling vehicles on the market, and hybrids are the fastest-selling. The study data prove that this is true of both new vehicles and also used vehicles. “Fading electric vehicle demand is reflected in a slowing sales rate that’s now passed 70 days, despite EV production cuts across several automakers.,” said Karl Brauer, iSeeCars Executive Analyst.

Related Story: EVs Once Had a 33% Market Share In America - Now It’s Under 8%

Recent Data Show EVs Slowing and Hybrids Growing
Toyota’s hybrids are growing like gangbusters, as is Toyota overall. The company was up by double digits in the U.S. market in Q1. Meanwhile, Tesla continues to obscure its market-specific delivery data, but was down overall in deliveries in Q1. In addition, many of the EV models on sale today are 2022 or 2023 model year inventory vehicles, This is despite 2024 model-year vehicle sharing space on crowded lots with them, and the 2025s about to start shipping in just a few months. 

Toyota Was Right - At Least For Now
EVangelists and even Toyota’s own shareholders called Toyota’s chairman crazy when he said that it would take longer for battery-electric vehicles to grow in market share and would likely level off. The data show he was spot on - at least in 2024. The new study shows that the Toyota Highlander Hybrid is the fastest-selling new car at 14.2 days on market and the Lexus RX 350h hybrid is the fastest-selling used car at 12.3 days on market.

Here are some facts from the iSeeCars study:
1) Six of the 20 fastest-selling new cars are hybrids, with one EV making the list
2) Eight of the 20 fastest-selling used cars are hybrids, with no EVs on the list

Despite Big Drops In Price and Government Incentives, Used EVs Are Slow to Sell
Used EVs have literally everything going for them right now. Prices have dropped dramatically from highs during the shortage of 2020-2022. In addition, many qualify for federal tac incentives and even state rebates. Yet, used EVs are sluggish to sell. “While used cars and used EVs track closely in sales pace, hybrids again hold an advantage,” said Brauer. “Their lower fuel costs and lack of range anxiety make hybrids a desirable option for consumers looking to reduce post-purchase operating costs without altering their driving habits.”

Toyota Dominates The List of Fastest-Seling New Cars
Among the 20 fastest-selling cars right now, Toyota earns an amazing 12 spots and a Lexus model makes it 13. Seven of the top 20 fastest-selling new vehicles on the market today are Toyota hybrids. The only brand with more than one model on the list of the fastest-selling vehicles is Cadillac. “It’s interesting to see the Toyota Sienna Hybrid, GMC Canyon, and Chevrolet Colorado among the top 10 fastest-selling models,” said Brauer. “A minivan and two midsize pickups further illustrate the demand for practical vehicles to help new car buyers justify their purchase.”

Slowest Selling EVs List Has Some Scary Numbers
Among the slowest-selling vehicles on the list are three electric vehicles with days on the lot exceeding 100. These are the Mercedes-Benz EQS (sedan), Ford Mustang Mach-E, and the 
Mercedes-Benz EQS (SUV). The Lexus RZ 450e also makes the list with an average days on the lot of 93. Nissan’s new Ariya, launched just this past year, sits for an average of 88 days before finding a buyer. 

Lexus Dominates Fastest-Selling Used Cars List
On the top-20 list of the fastest-selling used cars, Lexus dominates. Nine of the top 20 fastest-selling used cars are Lexus models. The top two fastest are both Lexus hybrids. iSeeCars concludes that “Lexus is appealing to consumers who want both solid value and a premium driving and ownership experience.”

Tesla Dominates the Fastest-Selling Used EVs List
Among the 10 top-selling used electric vehicles, every Tesla Model (except Cybertruck and Roadster) finds a spot, with the Model 3 being the top vehicle. It has an average selling days value of 26. Note that the 20 top-selling used cars all sell faster than this. We are just speaking of used EVs for a moment. 

You can see the full report at iSeeCars. 

Image of unsold Ford Mustang Mach-E EVs by John Goreham.

John Goreham is an experienced New England Motor Press Association member and expert vehicle tester. John completed an engineering program with a focus on electric vehicles, followed by two decades of work in high-tech, biopharma, and the automotive supply chain before becoming a news contributor. In addition to his eleven years of work at Torque News, John has published thousands of articles and reviews at American news outlets. He is known for offering unfiltered opinions on vehicle topics. You can connect with John on Linkedin and follow his work at our X channel. Please note that stories carrying John's by-line are never AI-generated, but he does employ Grammarly grammar and punctuation software when proofreading.