The 5 highest-selling used cars in the US includes a sedan
In 2024, American consumer sentiment regarding car buying remains overall negative. Prices and interest rates are still high, even while inventory has jumped significantly year-over-year. Certified pre-owned vehicles could provide a better experience for folks. GOBankingRates shared the top-selling used cars in the US heading into 2024. Let’s review them and discuss whether the list will shift as Q2 closes out.
5. Toyota RAV4
4. Toyota Camry
3. Ram 1500
2. Chevrolet Silverado
1. Ford F-150s are the highest-selling used cars in the US
The list includes a single sedan – the Toyota Camry. While I personally think either the Camry or the Corolla are perfect for folks looking for efficient reliability, I’m still surprised to see one of them here. Why? Well, the Camry isn’t a truck or SUV. In my mind, the Camry’s placement this high on the list of literally dozens of model options is a sign that perhaps Americans are leaning back into smaller cars.
Are we surprised the top three highest-selling used cars are trucks? Yes and no. I would have expected more SUV presence at the top of the list. However, with so many used trucks on the market and the incredible variety of Ford, Chevy, and Ram trims and options, it seems there’s a “perfect” used truck for everyone in the country. Still, trucks generally cost more (often significantly more) compared to some other used car classes. Does everyone buying a used truck really need one? Clearly, the question doesn’t seem to stop buyers in this category.
Ford CEO Jim Farley said this month that falling back in love with small cars is a near-must to ensure American automaker survival in a global electric market boasting small, inexpensive Chinese EVs. Just this week, a handful of carmaker stocks dipped notably, citing high unit costs, consumer sentiments, high inventory, and unexpected warranty claims, to name a few issues.
Of course, used cars operate in the shadow of new car sales, so time will tell if the list will include fewer trucks. We’ll our eyes peeled for mid-year updates.
