The Sum Up: Car models with highest used car sales growth

You may have heard that the used car market took a hit at the onset of the COVID-19 pandemic. The primary concern was safety, as both buyers and sellers worried that in-person meetings and improperly sanitized cars would expose them to the virus.

As of May 2020, used car sales have grown significantly. According to a recent article in Business Insider, sales grew 104% from April to May of 2020 as states began easing stay-at-home orders.

At Addition Financial, we like to keep our readers informed as they learn to navigate everyday transactions during the pandemic. Here are the key points related to used car sales.

What Types of Cars Are People Buying?

While the used car market is active in the summer of 2020, some cars are more popular than others. The three most robust categories in used car sales are:

Pickup trucks
Sub-compact SUVs
Cars under $10,000

By far the most active category is pickup trucks, which occupied five spots in the top 15.

Does that mean that you can’t sell your compact car or sedan? The answer is no, but it does mean you might have to work to find a buyer for your car at a time when most people are interested in trucks and SUVs.

What Are the Most Popular Models?

The top selling cars are ranked year over year by iSeeCars, which this year also tracked sales from April to May. Here are the top sellers based on the sales increase from May of 2019 and from April of 2020 to May of 2020:

Honda HR-V, up 53.1% from 2019 and over 88% from April to May
Cadillac XT-5, up 37.9% from 2019 and 46% from April to May
Volkswagen Passat, up 29% from 2019 and 71.2% from April to May
Chevrolet Trax, up 23.9% over last year and 59.3% in May
Jeep Compass, up 17.7% over 2019 and 41.9% from April to May
Nissan Rogue Sport, up 14.8% from last year and 44.8% in May
Mercedes-Benz GLC, 14.1% higher than 2019 and up 94.9% from April to May
Toyota Tacoma, with a 13% year-over-year increase and a 53.7% rise in May
Ford F-150, with a 12.2% increase from 2019 and 49.2% April to May
Jeep Grand Cherokee, up 11.8% from 2019 and 67% from April to May
Ram Pickup 1500, up 9% from 2019 and 49.8% April to May
Mazda CX-5, up 8.6% year over year and 108.9% from April to May
Buick Encore, with a 7.4% increase since 2019 and 44.6% April to May
GMC Sierra 1500, with a 7.3% increase since 2019 and 41% April to May
Chevrolet Silverado 1500, with a 7.3% change since 2019 and 46.5% April to May

It is important to note that the big increases from April to May are due to the precipitous drop in sales that happened because of the pandemic. Still, the percentages indicate a high degree of interest in these vehicles.

If you own one of the vehicles on this list, the chances are excellent that you’ll be able to get a good price if you decide to sell. You should use the Kelley Blue Book or Edmunds value as a jumping-off point, but don’t be afraid to aim high.

What if you don’t have one of the most popular vehicles on the market? The good news is that you can still sell – and you should still set a price that’s a little higher than what you think you can get to leave room for negotiations.

If you do decide to sell – or buy a new car – we’re here to help. Click here to read about our affordable car loan options.