Pickups’ Dominance Challenged As Fuel Economy And Value Become Bigger Priorities In Used Market

For the first time in recent memory, pickup trucks haven’t locked out the top three spots on the used vehicle charts

If you just looked at the most popular used vehicles in America in 2023, you could be forgiven for believing that the results were boring business as usual. However, looking past the surface reveals some interesting emerging trends.

For instance, no one will be surprised to learn that the Ford F-150 was the most popular used vehicle in the U.S. last year. Nor will they be surprised to find that the Tesla Model 3 was the most popular used EV. But looking a little farther down the charts reveals some surprising results.

For instance, the Ram 1500 lost its position as the third best-selling 1-5-year-old vehicle in America in 2023 (behind the second-place Chevrolet Silverado 1500), reports iSeeCars. It swapped places with the Chevrolet Equinox, which became the nation’s third best-selling used vehicle overall last year.

America’s Best Selling Used Vehicles

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“Trucks have been so dominant in the U.S. market for so long that it’s strange to see the Ram lose its top-three ranking, even to an SUV as popular as the Chevrolet Equinox,” said Karl Brauer, iSeeCars’ executive analyst. “This shift reflects the jump in gas prices during 2023, which led many consumers to move away from large trucks and SUVs and into smaller, more fuel-efficient models.”

That trend is also reflected in the ascendancy of the Toyota Corolla. It rose from the 13th best-selling used model in 2022 to become the eighth best-selling vehicle in 2023. That made it the vehicle that improved the most last year, likely because of its low price, reliability, and fuel efficiency.

America’s Best Selling Used Passenger Cars

In fact, it was a good year in general for Toyota, whose Camry overtook the Honda Civic to become the most popular passenger car in America last year. That dropped the Honda sedan to second place, and gave the Corolla the bronze medal in the segment.

Meanwhile, over in the EV space, the usual suspects topped the list. The Tesla Model 3 was the best-selling used EV in America, followed by the Model Y. However, the Model S and X, which were the third and fourth best-selling EVs in America in 2022, fell down the charts to fifth and sixth place as they were overtaken by the Chevrolet Bolt and the Nissan Leaf. That may be a reflection of the economic pressures facing Americans, but it could also be cause for concern for Tesla.

“Most of the top-ranking electric cars are showing their age, with only the Model Y being relatively new to the market,” said Brauer. “And in this race of older EVs, the aging Bolt and LEAF pulled ahead of the aging Model S and Model X. Without major updates to Tesla’s most expensive vehicles, they are likely to continue dropping in popularity.”

America’s Best Selling Used EVs