The car market is booming right now. The Covid-19 pandemic is coming to a long awaited conclusion, and consumers are looking to spend money and get back to their normal habits. Two cars in particular, the 2021 Cadillac Escalade and the 2021 Chevrolet C8 Corvette, are currently at the top of the fiery hot auto market.
According to data collected by iseecars.com, the average number of days that it took to sell a new car in May was roughly 47 days. The average price of all news cars sold in the same month was (a climbing) $38,006. Needless to say, the average transaction numbers for the Cadillac Escalade and C8 Corvette blow those average numbers out of the water.
C8 Corvette Sales: 9.5 Days To Turn
The C8 Corvette ranks second on iseecars.com list of fastest-selling new cars in May, with an average turnaround time of 9.5 days. That’s a little less than five times faster than the average number of days for the month! What’s even more impressive about these numbers is the fact that the C8 just dropped to second place during the month of May. For the last four months, the C8 Corvette has been at the top of the turnaround time leaderboard. It’s no surprise at the current feeding frenzy for the latest and greatest Corvette considering there’s insufficient production due to the global microchip shortage. The average price of the 2021 C8 Corvette is $85,359, which isn’t too outrageous if you bear in mind that some customers will have no issue paying $5,000-$10,000 over sticker.
Cadillac Escalade Sales: 10.8 Days To Turn
The C8 is followed by the Cadillac Escalade on the fastest-selling cars of May leaderboard. The average number of days for Escalade turnaround is 10.8, over four times the average. iseecars.com cites the brand’s overhaul of the Escalade in the 2021 model year as a driving force in sales. In the first quarter of the year alone, 2021 Cadillac Escalade sales were up 75% in comparison to last year’s figures. The average price of a 2021 Escalade is even higher than the C8 Corvette at a whopping $101,836. It’s worth noting that the Cadillac Escalade ESV, the even larger extended-wheelbase version, is ranked 9th on the same list.
While this red-hot new car market certainly won’t last, it’s a clear indicator that people are anxious to kick-start their lives again alongside a premium new car smell.