The Cadillac Escalade was among the fastest-selling new vehicles throughout the month of September, according to a recent study conducted by market research firm iSeeCars.
The full-size SUV spent an average of 10.1 days on dealer lots before finding a buyer in September, making it the seventh fastest-selling vehicle for the month. The fastest-selling vehicle was the Subaru Crosstrek, which spent an average of 7.8 days on the lot before being sold. The Chevy Corvette was second (8.6 days) followed by the Subaru Forester (9.5 days), Toyota Sienna (9.6 days), Toyota RAV4 (9.8 days) and Toyota Highlander Hybrid (10.1 days).
The Cadillac Escalade was also one of the top 20 fastest-selling vehicles in August of this year, taking an average of 10.7 days to sell after arriving at the dealership. As we pointed out previously, this is an impressive statistic for the luxury SUV, as it is much more expensive than other fast-selling vehicles like the Crosstrek, Forester, Sienna and RAV4. The average selling price of a Cadillac Escalade last month was $99,266, making it the most expensive entrant among the top 20 fastest-selling vehicles in September.
Via iSeeCars
iSeeCars executive analyst Karl Brauer says the popularity of the Cadillac Escalade is being driven by strong consumer response to the redesigned model, which was introduced for the 2021 model year.
“The Escalade was redesigned for 2021 to make the premium SUV even more luxurious and technologically advanced, helping it dominate the full-size SUV segment,” said Brauer. “Additionally, the popular vehicle consistently sells over MSRP and grew in sales by 123 percent in Q3 2021 over the previous year.”
The global chip shortage continues to have an impact on the automotive market, with high demand and low inventory driving up average transaction prices industry-wide. According to Brauer, many consumers have now accepted the fact the chip shortage is here to stay for at least several more months and are thus warming up to higher asking prices at the dealer.
“The microchip shortage is showing no sign of resolution as major automakers continue to halt production, leading to lower and sometimes scarce inventory levels,” Brauer added. “Car buyers are willing to pay over MSRP for new cars and highly-elevated used car prices because they have embraced the reality that inventory shortages are here to stay for the next several months.”
Subscribe to GM Authority for more Cadillac Escalade news, Cadillac news, and around-the-clock GM news coverage.
Comments
Is this telling anybody on the top, People really don’t want EV’s. L@@k what Calif. just did to all small motors like grasscutters, grass blower, weed trimmers, chainsaws, and more small tools you use around the house. But then again with most of it burned up. lets see how the forest fighter knock down fires without tools.. Old Sleepy Joe and company just don’t get it.. Sorry Calif. people but you vote the clown back in… LOL L@@k how much better the fly over states are now..
There are no EVs on sale that is seriously that good currently universally loved just like the Corvette, Escalade and other models on this list.
I suspect all the vehicles on the list really spend zero days on the lot. If they are on the lot, they are just waiting for the person who preordered the vehicle to pick it up.
I doubt all of these vehicles are preorders and suspect dealers are ordering vehicles waiting for sale with any random buyers purchasing alongside of preorders. There are some regions where vehicles on the list waiting on buyers sitting on lots longer than indicated. But regardless, excellent showing of fast turnaround.
I’m sure it happens. But my sales guy had 160 preorders and no retail stock orders. Current delay is 1 year roughly from order to delivery. Escalade is going to float Cadillac’s boat for another year at least.
I have been waiting on my pre-order since March 3. No word from the dealership on anything…
LOL… a year ago, people on this forum hated the Cadillac fascia so bad that they gave the Logo 6 months… Haters on the interior, haters on the direction Cadillac was pursuing for the design, and praising European designs being far ahead of the American company… At this point, the general public seem to be scarfing up these behemoth’s gas guzzlers so maybe the general public are saying – hey – we like what you’re doing – keep doing what you’re doing…. LOL… Commentary vs purchases, purchases win…
BTW, I don’t own one and probably never will. $$$$$$ I do like the design a lot but I can’t see throwing 75K on an Escalade unless I win the Lottery…:}
Cadillac and Corvette were the only American brands in the top 20 – sad.
To better know how meaningful these ‘fastest selling’ stats are, let’s also see the total number of non-preordered deliveries to dealers for each brand on this list.
I have two 21 escalade esv’s. The only reason it’s not one day on the lot on average, is that most dealers are asking way over msrp, and I would bet the average purchase price is $7.5k over msrp. The dealers who are driving up the average day on lot are the ones asking $30k over, which is plenty. I’m lucky that I found mine at msrp by looking all over. I’m trying to order more, but I must wait because the demand is too strong. @bsaexecutivecar on ig.
Good point – markups certainly have an effect on how long something sits on the lot. If only there were reliable statistics comparing actual selling prices against their sticker prices – we’d have a better idea as to what the hottest thing is out there.