The microchip shortage continues to affect supply and demand for new and used cars in Seattle according to a new report.
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iSeeCars.com, an automotive research firm, recently examined 280,000 new and used car sales in November to find the fastest-selling vehicles.
The report found that demand for new cars has heightened due to low inventory, while demand for used cars has slowed due to an increase in price.
“The average price for the fastest-selling new cars increased by 21 percent from October to November, which may have affected demand for new cars, as evidenced by the slower average time-to-sell,” said iSeeCars Executive Analyst Karl Brauer. “Similarly, used cars are selling a week slower, which is likely due to price increases and reduced inventory.
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iSeeCars.com found in its November report that overall, the average new car took 42.8 days to sell and the average used car took 51.5 days to sell. These numbers are slower compared to last month’s averages of 31.7 days and 44.7 days, respectively.
However, in the Seattle-Tacoma area, the report found that the average new car took 33 days to sell in November and the average used car took 51.9 days to sell.
Nationally, the fastest-selling new car in November was the Mercedes-Benz GLC. The Honda Insight topped the national used car list which also featured a few other alternative-fuel vehicles.
Keep reading to see which cars, truck and SUVs sold the fastest in Seattle in November, according to the report.