Get access to the same vehicle valuation tool that dealers rely on. With Black Book, you’ll have insider data to accurately assess trade-in and purchase values—empowering you to negotiate the best possible deal.
Looking to get into a new vehicle for the least amount of money possible? We’re here to help. Despite new car prices remaining near record highs, affordable lease options remain as automakers look to move inventory. Surprisingly, there are several new car leases under $200/month. Bump your budget up to $250/month, and you have plenty to choose from. From sedans to EVs and popular crossover SUVs, these are the cheapest lease deals for October shoppers.
Buick
Buick Envista: $199 per month for 24 months with $3,869 due at signing
Buick Encore GX: $333/month for 36 months with $0 due at signing (for returning lessees of GM vehicles)
Kia
Kia Forte: $199/month for 24 months with $3,499 due
Whether you prioritize fuel efficiency, space, or the latest technology, the cheapest lease deals prove that you can have it all. Remember to act quickly, as these deals expire at the end of the month.
Ready to skip the BS and lease the easy way? Do it all from the comfort of home with CarEdge. With home delivery available (free in select areas) and our famous pre-negotiated pricing, we’ll simply deliver the car you want to your door.
In a surprising twist within the electric vehicle market, the Chevrolet Bolt has emerged as the best-selling non-Tesla EV in early 2024. Nearly 4,000 Bolt EVs and EUVs were sold in the first 45 days of the year. However, there’s just one big problem: General Motors already ended production of its best-selling EV in December.
With the current generation on its way out, and the next-gen Bolt Ultium still over a year away, will budget-minded EV shoppers have any options on the table in 2024?
What About Tesla?
First, we must address the elephant in the room (or parking garage?). In the United States, Tesla is without a doubt the EV sales leader right now. Last year, Tesla maintained a roughly 50% market share in American EV sales. Yes, that has trended downward from closer to 70% a few years ago, but no matter how you look at it, Tesla still dominates the segment.
As proof, here are the best-selling EVs in America in 2023. Tesla’s Model Y and Model 3 smashed the competition. However, it is impressive to see so many legacy OEMs climbing into serious volume in terms of US EV deliveries. This data comes from Kelley Blue Book.
Make
Model
2023 US Sales
Tesla
Model Y
394,497
Tesla
Model 3
220,910
Chevrolet
Bolt (EV/EUV)
62,045
Ford
Mustang Mach-E
40,771
Volkswagen
ID.4
37,789
Hyundai
IONIQ 5
33,918
Rivian
R1S
24,783
Ford
F-150 Lightning
24,165
Tesla
Model X
23,015
BMW
i4
22,583
However, Tesla doesn’t publicly share sales data until the end of the quarter. So in our quest to find the best-selling electric vehicles in 2024 less than two months in, we turned to a special tool that you too can access: CarEdge Data.
Through our partnership with MarketCheck, CarEdge users are able to see vehicle price and sales stats for any new or used car on the market. Why does this matter? It all boils down to one word: leverage. By understanding real-time car market conditions for specific makes, models, and even trims, car buyers everywhere can negotiate effectively to save more and stress less.
These Are the Best-Selling EVs in 2024 (So Far)
Using CarEdge Data, we’re able to see recent sales totals for any vehicle sold through dealership networks. When we took a look at the best-selling EVs in 2024, our team was shocked at the leader. Have a look for yourself…
Make
Model
Total Sold (45 Days)
Market Supply (Days)
Chevrolet
Bolt (EV and EUV)
3949
30
Cadillac
Lyriq
2465
136
Hyundai
IONIQ 5
2365
188
Volkswagen
ID.4
2323
126
Ford
F-150 Lightning
2238
241
Ford
Mustang Mach-E
1908
572
Kia
EV9
1789
150
BMW
i4
1553
212
Nissan
Ariya
1222
173
Hyundai
IONIQ 6
1112
179
Yes, the discontinued Chevrolet Bolt is the best-selling non-Tesla EV in America in 2024. How could this possibly be? Consider this: The Chevy Bolt’s average selling price is $23,000 BELOW the average selling price of electric vehicles in America. After falling substantially last year, average transaction prices have jumped back to $55,000. That’s 17% above the overall new car market.
The Bolt leading this list proves one major point: people want affordable EVs. The casual driver (in other words, not EV enthusiasts) are more willing to give electric cars a try when the price tag is lower. Are the automakers listening? Today’s insanely high market supply of EVs shows us that there are more than enough $50,000+ electric models on the market, and far too few EVs on sale for less than $40,000.
More Affordable EVs On the Way?
The simple answer is yes, more affordable EVs are coming soon. However, the most important question remains to be answered: will automakers produce large numbers of affordable EVs, or will they flood the market with $45,000+ higher-spec variants, while barely delivering any lower-trim, affordable versions? It’s not easy to find the base Kia EV9 or Ford F-150 Lightning, for example. If you want a top-of-the-line one, however, they’re everywhere you look.
Here’s a brief summary of the affordable EVs coming to market in the next few years.
Chevrolet Equinox EV
Starting price: $34,995
Base range: 250 – 300 miles of range
Available: Late 2024
What makes the Equinox EV so special? A few things: For 2024, the Bolt EV has been temporarily discontinued. At the same time, the Equinox EV will arrive as Chevrolet’s new affordable EV. It is A LOT better than the outgoing generation of the Bolt. The Equinox EV will most importantly include much faster charging, and in our opinion, better, more modern looks. Expect to charge the 2024 Equinox EV to 80% in less than 30 minutes. That’s about half the time it takes in an older Bolt.
Starting price: N/A (CarEdge estimates $34,000 base price)
Base range: N/A (likely 250 – 300 miles)
Available: 2025
The redesigned, re-engineered Bolt Ultium just might be worth waiting for. It’s really going to have it all: faster charging, longer range, a better LFP battery, Tesla’s NACS charging standard, and supposedly, an affordable price. General Motors has confirmed that the next-gen Bolt is coming.
Tesla Model 2
Starting price: Estimated $25,000 – $30,000
Base range: N/A
Available: Estimated late 2025 – early 2026
Not much is known about Tesla’s upcoming cheapest model, aside from Elon Musk recently sharing that it is indeed approaching production. “We’re very far along on our next-generation low-cost vehicle,” CEO Elon Musk said at the fourth quarter 2023 earnings conference call. “And this is really going to be profound, not just in the design of the vehicle itself, but in the design of the manufacturing system.” We’ll share more information when we have it. Don’t expect this model to enter volume production until 2026.
Redesigned Hyundai Kona EV
Starting price: $32,675
Base range: 261 miles
Available: Today. Browse listings near you.
Although the 2024 Kona Electric does not qualify for the EV tax credit, it is affordable. There’s really only one thing we don’t like about this car. The 2024 Kona Electric didn’t get much of a battery upgrade from the previous generation, meaning that it STILL charges quite slowly. You can expect to add 200 miles of driving range in about 40 minutes in the best of conditions at a DC fast charger. If you don’t travel long distances often, this might not matter to you.
Ready to outsmart the dealerships? Download your 100% freecar buying cheat sheets today. From negotiating a deal to leasing a car the smart way, it’s all available for instant download. Get your cheat sheets today!
Discovering a vehicle that ticks all the boxes for performance, comfort, and style can transform your daily commute into a journey you look forward to. This year, Consumer Reports has done the heavy lifting for us, meticulously testing and evaluating most of the 260 new car models on the market in 2024. Here at CarEdge, we’re big fans of CR. For each of the Consumer Reports Top Picks for 2024, we’ve used CarEdge Data to reveal the true selling price and current market supply, showing you market dynamics in real time. We hope you find this bit of a twist useful in your Car Search.
Fresh off the digital presses, these are the 10 best cars, trucks, and SUVs for 2024, as ranked by Consumer Reports.
The 2024 Crosstrek features significant updates including enhanced engines, a modernized infotainment system, and an advanced EyeSight safety suite, alongside the best fuel economy for a non-hybrid AWD SUV at 29 mpg. While the base 2.0-liter engine may feel underpowered, the optional 2.5-liter variant offers improved speed, noise control, and overall driving satisfaction. Here’s Consumer Reports’ complete review.
While the 2024 Toyota Prius offers a more engaging driving experience and a cooler look, it sacrifices some comfort and visibility compared to its predecessor. The Prius Prime variant adds versatility with 39 electric-only miles and a gas-only efficiency of 43 mpg, enhancing the appeal of this distinctive and striking vehicle. It’s not the Prius of yesterday! Here’s Consumer Reports’ complete review.
In its final year before a redesign, the 2024 Forester remains a Consumer Reports Top Pick for the 11th time, thanks to its practical boxy design that enhances interior space and visibility. It’s easy access, spacious and comfortable interior, along with ample cargo space, stand out in the small SUV category. Combining one of the best ride qualities in its class with responsive and secure handling, the Forester continues to be a highly recommended, well-rounded vehicle. Check out the complete review from Consumer Reports.
The Mazda3, available as both sedan and hatchback, redefines the small, affordable car segment with its enjoyable driving dynamics, nimble handling, and capable powertrains. Mazda offers two engine options: a base engine with 191 hp and an optional 227-hp turbocharged upgrade. Its premium feel on higher trims positions it above its mainstream competitors, providing all-wheel drive and standard Blind Spot Warning (BSW) and Rear Cross Traffic Warning (RCTW) for 2024. Here’s CR’s complete review.
The Camry Hybrid excels in delivering fuel efficiency and comfort at a budget-friendly price point. It achieves an outstanding 47 mpg overall in fuel economy tests, with a remarkable 53 mpg on the highway, complemented by a 610-mile range per tank, making it ideal for both daily commutes and long road trips. Next year, the Camry becomes a Hybrid in all trim levels. See CR’s complete review.
The Maverick sets itself apart in the truck segment with its easy maneuverability, notable fuel economy, and affordability. Its crew cab offers a spacious and practical interior with ample legroom and headroom, complemented by user-friendly controls and well-placed storage options. The 191-hp hybrid version shines for its exceptional fuel efficiency and enhanced refinement, making the Maverick a high-value, functional choice for those wanting a truck without the difficulty parking a full-size model, not to mention affording gas. CR members can see the complete review.
The RAV4 Prime, a plug-in hybrid variant of the best-selling SUV in America, is so popular that it’s hard to find one that’s not already taken. It offers 42 miles of electric-only range, allowing for significant gas savings, especially in urban driving. The RAV4 Prime maintains a commendable 34 mpg overall fuel efficiency once the battery is depleted. If you’re not ready to go full-EV, this plug-in hybrid is a great alternative.
The Highlander stands out as a comfortable midsize SUV with an impressive suite of active safety features, and a strong predicted reliability. Its 243-hp hybrid powertrain leads in fuel efficiency for three-row SUVs, achieving 35 mpg overall and 41 mpg on the highway in tests, complemented by a 590-mile range on a full tank. The hybrid model’s modest $1,500 premium over the gas-only version promises swift returns through fuel savings. CR members can check out this complete review.
The X5 offers a luxury experience, and that’s what you should expect at this price. It features a balanced suspension that ensures a supple ride and composed handling, suitable for curvy roads, while the turbo-six engine provides quick acceleration. The standout is the plug-in hybrid version, which combines a turbo inline-six with an electric motor and a battery that enables 39 miles of all-electric range. Gone are the days of PHEVs getting just 20 miles of electric range! Here’s CR’s complete review.
The Model Y has been the best-selling electric vehicle in America and Europe for quite some time. With its SUV-like body, the Model Y offers more passenger and cargo space than its sedan counterpart, the Model 3. With long range and a widespread, easy to use Supercharger network, the Model Y is the perfect choice for first time EV buyers. Additionally, its capability for over-the-air updates means that the Model Y’s features can be continuously enhanced, making an already impressive vehicle even better with time. See CR’s complete review of the Model Y.
Ready to outsmart the dealerships? Download your 100% freecar buying cheat sheets today. From negotiating a deal to leasing a car the smart way, it’s all available for instant download. Get your cheat sheets today!
In America, sales of the three core Stellantis brands have tumbled 39% in the past 5 years. Meanwhile, overall new car sales in America are 11% below 2018 levels. Following FCA’s transition to Stellantis in early 2021, the three brands have become a liability for the multinational automotive conglomerate. If you’re not convinced that Jeep, Chrysler, and Dodge are in dire trouble, you might be swayed by this look at their U.S. sales in recent years. Plus, we’ll take a look at where things stand today for these three American icons.
New Name, Bigger Problems
In January 2021, the merger between FCA and Peugeot S.A. (PSA) marked the birth of Stellantis, yet its American brands have struggled in the U.S. market since. By Q4 2023, Stellantis’s U.S. market share had dipped to 8.80%, a significant decline from 9.63% the previous year and the lowest in five years, contrasting sharply with a recent peak of 12.66% in 2019.
Sales have steadily declined for three former FCA brands sold in America: Jeep, Dodge, and Chrysler. Ram has fared better as a standalone truck brand, seeing annual sales decline ‘just’ 10% since 2018.
For Jeep, Dodge, and Chrysler, the outlook is grim if the recent past is anything to judge. As you can see below, none of the three have come out of the pandemic slump.
And here are the numbers for Jeep, Dodge, and Chrysler, showing U.S. sales from 2014 to 2023.
Jeep
Dodge
Chrysler
2014
692,348
574,155
308,785
2015
865,028
527,295
317,923
2016
926,376
506,858
239,492
2017
828,522
446,996
188,545
2018
973,227
459,324
165,964
2019
923,291
422,886
126,971
2020
795,313
267,328
110,464
2021
778,711
215,724
115,004
2022
684,614
190,795
112,713
2023
642,924
199,458
133,729
Market Share Declines
Last year, Jeep’s market share slightly fell to 3.92%, down from a recent high of 5.17% in 2019. Ram’s share dropped to 3.44%, down from 4.60% in 2021. Dodge saw a more notable decrease to 1.09% by the end of 2023, a far cry from its former stature as a major player. In the mid-1980s, one in seven new vehicles in America was a Dodge.
Chrysler’s market share plummeted to just 0.27% from 0.69% a year earlier. After consecutive model cancellations and serious stagnation in sales, Chrysler’s U.S. market share has held below 1% since 2021.
These figures highlight the challenges Stellantis faces in reinvigorating its American brands amidst a fiercely competitive market.
How are the individual brands performing in the U.S. new car market? Let’s dive in for a closer look.
Jeep Sales Are Down 44%
2018 was the last stellar year for Jeep. It’s been downhill ever since. Jeep sales are down 44% from 2018’s peak, when 972,227 Jeeps were sold in America. In 2023, the iconic brand sold just 642,924 vehicles, the lowest sales figure in 11 years.
Over the past two years, Jeep has launched multiple new models, from the luxurious Grand Wagoneer to plug-in hybrid 4xe variants. However, Stellantis’ plan of action doesn’t seem to be working.
Overall U.S. new vehicle sales totaled 15.5 million, an increase of 11.6% from 2022. At the same time, Jeep sales dropped 6.1% year-over-year.
On top of this, Jeep’s inventory is staggeringly high, no matter how you look at it. Typically, a healthy new car inventory is measured by an industry metric called market day supply (MDS). In essence, MDS represents how long it would take to sell all existing inventory at current daily selling rates, assuming no new inventory was added. A ‘healthy’ inventory is generally between 45 and 65 days of supply, depending on seasonality and differences between OEMs.
As of late February 2024, there’s a 195-day supply of new Jeeps on sale in America. Nationwide, 188,611 new Jeep vehicles are sitting on dealer lots. That’s not good.
Here’s a look at five-year sales trends for Jeep’s models.
2018 U.S. Sales
2023 U.S. Sales
Trend
Cherokee
239,437
24,609
-89.72%
Compass
171,167
96,173
-43.81%
Gladiator
N/A
55,188
N/A
Grand Cherokee
224,908
244,594
8.75%
Grand Wagoneer
N/A
10,618
N/A
Renegade
97,062
26,011
-73.20%
Wagoneer
N/A
29,149
N/A
Wrangler
240,032
156,581
-34.77%
It’s great to see the popularity of the Grand Cherokee continuing, but most other Jeep models are faring worse.
Believe it or not, Dodge is in an even worse slump. Let’s take a look at the numbers.
Dodge Sales Are Down 67%, Inventory Soars
Dodge sales are down 67% from 2013’s peak of 595,743 sales in America. In 2023, Dodge sold just 199,458 vehicles, a slight improvement from 2022. However, 2022’s 190,795 vehicles sold was the lowest annual Dodge sales figure since 1996, according to historical sales data from GoodCarBadCar.
Things aren’t looking any better for 2024. In fact, considering decisions made by Stellantis themselves, 2024 is shaping up to be the final nail in the coffin for this once-popular brand.
In 2023, Dodge discontinued production of two popular models. The Dodge Challenger and Dodge Charger, two of the last American muscle cars still in production, were officially removed from production schedules last December. Meanwhile, fewer than 10,000 copies of the much-hyped Dodge Hornet were sold. What does Dodge’s future look like without these two sporty models, which combined made up 60% of Dodge’s sales in 2023? Electrification is on the horizon if the latest clues are to be trusted. Will Dodge’s fanbase convert to electric performance? The brand’s future depends on it.
Here’s a look at five-year sales trends for Dodge’s best-selling models, the Charger, Durango, and Challenger.
As the official FCA press release points out, Dodge’s U.S. sales actually increased 5% year over year. The Durango seems to be carrying the brand right now. However, zoom out just a bit, and we see that sales have been cut in half over the past decade. 2024 will be a pivotal year for Dodge’s future.
So far, the brand isn’t off to a good start. As of late February, there was a 329-day supply of new Dodge vehicles in the U.S. That’s now the highest inventory of ANY car brand today. More than 80,000 new Dodge’s sit on the market waiting for buyers.
Chrysler Sales Are Down 58%
Chrysler sales are down 67% from 2015’s peak of 317,923 sales in America. In 2023, Chrysler sold just 133,729 vehicles, a slight improvement from 2020’s low of about 110,000.
Chrysler recently discontinued the 300 sedan, but it was never a major seller to begin with. What new models does Chrysler still sell? As of 2024, the Chrysler Pacifica van is the only remaining Chrysler model. It is popular, however, having completed 120,554 sales in 2023.
In Conclusion: Stellantis Has a Mess On Their Hands
The dramatic decline in sales for Jeep, Dodge, and Chrysler underlines significant challenges for Stellantis, with each brand facing its own set of issues. Jeep’s inability to boost sales despite new model launches, Dodge’s precarious future post-muscle car, and Chrysler’s dwindling presence to a single model, all signal deep-rooted problems beyond just market trends. These issues highlight a disconnect between the brands’ strategies and the evolving demands of the market, necessitating a comprehensive reassessment of their roles within Stellantis and the broader industry.
Stellantis is at a crossroads, needing to realign these iconic American brands with consumer wants and needs at a price buyers are willing to pay. The conglomerate’s ability to navigate this transformation will determine whether Jeep, Dodge, and Chrysler can regain relevance and growth or fade into automotive history.
Spring car buying season is already upon us, bringing with it a mix of challenges and opportunities for car shoppers. We spoke to CarEdge Co-Founder Ray Shefska to see what he’s thinking about the auto market ahead. Whether you’re looking to upgrade your ride, or simply curious about the current automotive landscape, this CarEdge update has you covered. Let’s dive into the latest data and trends to help you make informed decisions, no matter what your preferred set of wheels may be.
New Car Market Spring Update
The Spring of 2024 is shaping up to be an interesting time for new car buyers. “Automakers are stuck with billions of dollars of inventory that they can’t sell. One of the main culprits for this oversupply is high interest rates,” noted Ray. With an average new car loan rate sitting at 9.96% APR as of January, and used car rates even higher at 14.25%, it’s clear that financing costs remain a significant hindrance for many. However, the landscape is changing, with more attractive financing options emerging for buyers willing to search for them.
Remarkably, 13.7% of new car loans were financed at APRs below 3% in February according to the latest update from Cox Automotive. This is a substantial increase from just a few months prior.
Despite this, zero percent APR deals remain rare, but they’re out there for qualified buyers with great credit. Last month, zero percent APR auto loans accounted for only 3% of new car loans. Yet, we see great 0% APR offers from Ford, Hyundai, Nissan, and others. Check out our guide to the best deals.
Ray is quick to point out that inventory has flipped from 2021’s severe shortage to 2024’s massive oversupply. “Now you have high supply and dwindling demand. Normally, that means dealers will be willing to work with you on a better deal. There’s room to negotiate that didn’t exist a few years ago.”
Inventory levels are also making headlines, with 2.66 million new cars available for sale in America, marking a 49% increase from last year. This surplus, an 82-day supply, signals a buyer’s market for the first time since 2020. This is especially true for brands like Chrysler, Jaguar, Jeep, Ram, and Dodge, which boast inventory levels more than double the national average.
Here’s a look at the new car brands with the highest inventory today:
Make
Market Day Supply
Total For Sale (New)
Dodge
363
80,620
Ram
281
130,129
Chrysler
237
19,517
Jeep
230
187,872
Volvo
188
35,062
Jaguar
183
4,241
Lincoln
183
37,643
Nissan
143
190,847
Buick
131
45,171
Volkswagen
130
78,923
In contrast, brands like Honda, Toyota, Kia, Subaru, and Lexus find themselves on the other end of the spectrum, with the lowest supplies. However, we’ve come to expect this from the popular Asian brands, especially post-pandemic.
These are the new car brands with the lowest inventory today:
Make
Market Day Supply
Total For Sale (New)
GMC
112
101,997
Subaru
109
126,870
Acura
105
28,894
Chevrolet
96
280,181
Cadillac
80
25,469
Kia
72
101,482
Lexus
68
55,621
Mazda
63
101,523
Honda
61
160,106
Toyota
48
265,975
The Used Car Conundrum
The used car market tells a different story. Although used car inventory levels are 6% higher than where the market stood in early 2023, things seem to be returning to our new normal. Used car prices remain far higher than historical norms, but prices have gradually come down over the past year. We track used car prices weekly here.
Ironically, you can blame the NEW car market for used car price woes. The average price paid for a new car in 2024 is $48,000, which is 48% higher than one decade ago.
Resale values are closely tied to used car prices for obvious reasons. Volatility in resale prices has been on the rise, with some segments (such as EVs and luxury crossovers) depreciating much more rapidly than just a few years ago. The result is more drivers holding on to their cars instead of selling them in today’s used car market.
Another result of volatile used car prices is dealer’s hesitation to take on new used inventory at wholesale auctions. Ray noted that “Floorplanning costs are high, and the smart money often realizes that there’s too much risk with taking on more used inventory if used car values are fluctuating so much.” In other words, when dealers turn away used inventory, prices are artificially kept at higher levels. That’s not good for used car buyers, but is a well-known strategy among car sellers.
Ray’s Spring 2024 Buying Advice
For those eyeing a new car this spring, our advice is to steer clear of market adjustments, and be willing to hunt for low APR offers. It’s becoming a buyer’s market for most makes and models, offering a prime opportunity to negotiate favorable deals, even among brands traditionally known for tight inventory.
Brands like Mazda, Subaru, and Nissan stand out as representing fair value in today’s market.
New Car Market Rating
It’s a fine time to buy a new car. With rising inventory levels and attractive financing options, buyers are in a strong position to negotiate great deals.
Used Car Market Rating
It’s a difficult time to buy a used car. The combination of high new car prices, volatile used car values, and cautious dealership inventory strategies makes finding a good deal on a used car more challenging than usual. And then there are the used car loan rates, which remain at 20-year highs.
In conclusion, the Spring 2024 car market offers a mixed bag of opportunities and challenges. For new car buyers, the time is ripe to leverage high inventory levels and low APR financing deals. On the flip side, used car shoppers will need to navigate a more complex market with caution. As always, being informed and prepared is key to making the best decision for your situation.
Remember, your CarEdge consumer advocates are always here to offer assistance. Learn more about how we can help. Don’t forget to download your free car buying guides below!
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