Inventory is high, that means prices are low. It’s a buyers market for a long list of 2020 model vehicles that didn’t sell in the pandemic.
Lower demand and inventory constraints from production shutdowns last year led to a decline in new vehicle sales in 2020. Many automakers also delayed releases of the 2021 models, resulting in a 9.5% lower inventory of 2021 models compared to the same time last year, according to iSeeCars, a car search engine which analyzed over 700,000 new cars listed for sale as of January 29, 2021.
When looking to save money on a new car, it’s often smart to buy the previous model year, as dealers usually need to unload this inventory to make room for the shiny new models.
While the average new model has 22.5% of its inventory remaining from the 2020 model year, according to iSeeCars, there are 24 models that have at least 1.5 times that amount on dealer lots. (Heavy-duty trucks, lower-volume models, and cars that did not have a large amount of 2021 inventory available were excluded from the analysis.)
At the top of the list is the Ford (F) Escape, with more than 90% of 2020 inventory filling up lots. This opens up ripe opportunities for negotiating a great price on a new car.
There's something for everyone here—the list includes everything from hybrids, pickups and muscle cars to SUVs and luxury vehicles from makers including Chevrolet, Nissan (NSANY) , Dodge, Hyundai (HYMTF) , Chrysler, Toyota (TM) , Honda (HMC) , BMW undefined, and Volkswagen (VWAGY) .
Here are the 2020 models with the highest share of new car inventory: