CarGurus Unveils the Best Used Cars for 2024, Preparing Shoppers for the Ideal Time to Buy
January 24 2024 - 9:00AM
CarGurus (Nasdaq: CARG), the No. 1 visited digital auto platform
for shopping, buying, and selling new and used vehicles1, today
released its 2024 Best Used Car Awards. Referencing an expansive
set of pricing and availability data, consumer trends, and
experience test driving over a thousand cars, CarGurus’ panel of
expert reviewers has identified the best used cars in 11
categories, including the best family car; city car; large, small,
and midsize SUV; and the best overall used car, recognized with the
CarGurus Used Car of the Year Award.
The awards come in time for shoppers to prepare for the best
time to buy a used car in 2024, according to CarGurus research. An
analysis of national weekly average price and inventory data for
the past seven years, accounting for pre- and post-COVID market
shifts, revealed that buying a used car during the week of February
12 could, on average, amount to a 2.8% savings compared to the
average week - with access to over 6% more listings. Based on the
current average used car listing price of $28,731, consumers have
the potential to save approximately $800 on a purchase during this
time.
“With many shoppers feeling the pinch of higher interest rates
and new car prices remaining 30% above pre-pandemic levels, all
eyes will be on used cars as a more cost-effective alternative to
finding a great deal this winter,” shares Matt Smith, CarGurus
Deputy Editor. “Now in its sixth year, the CarGurus Best Used Car
Awards aim to help consumers pinpoint their ideal car match with
added confidence.”
A preview of the 2024 CarGurus Best Used Car Award winners
include:
- CarGurus
2024 Used Car of the Year: Honda Accord (Tenth
Generation). “In addition to being named the best city
car, the tenth-generation Honda Accord is a fantastic all-around
vehicle. Few vehicles combine the Accord's impressive performance
and efficiency with its level of practicality, build quality, and
safety,” explains Smith. Current average listing price:
$23,1062.
- Best Midsize Crossover/SUV:
Hyundai Santa Fe (Fourth Generation). Sold between 2019
and 2023, the fourth-generation Hyundai Santa Fe delivers an
outstanding combination of tech, safety features, and value. “It
helps that the Santa Fe is a good-looking vehicle, too; although it
hasn’t adopted many of the current auto marketplace’s design
trends, it doesn’t look boring or outdated,” Smith adds. Current
average listing price: $26,2292.
- Best Large Pickup
Truck: Ford F-150 (Fourteenth
Generation). Introduced for the 2021 model year, this
latest F-150 builds on more than seven decades of truck-building
experience. Shoppers can find a Ford F-150 for any need, thanks to
multiple body styles, multiple powertrain options, and enough trim
levels to make a head spin. According to Smith, “CarGurus reviewers
have been impressed by how the F-150 combines its noteworthy
capability with smart design, great technology, and
an outstanding suite of safety features.” Current average
listing price: $48,2242.
- Best Luxury Sedan:
Audi A4 (Fifth Generation). According to Smith,
“Although it’s received only a minor facelift since arriving for
the 2016 model year, the fifth-generation Audi A4 is nonetheless
one of the best-looking sedans on the market. This luxury sedan has
aged incredibly well, offering as impressive a driving experience
as it did eight years ago. Earlier examples can be equipped with
front-wheel drive (FWD), but later A4 models include Audi’s famous
Quattro all-wheel-drive (AWD) system as standard equipment.”
Current average listing price: $25,5682.
- Best Family Car: First
Generation Kia Telluride. Since arriving for the 2020
model year, the Kia Telluride has become a popular choice among
shoppers and reviewers, alike. The super-sized midsize crossover
SUV was one of the first of its kind; comfortable enough for daily
driving duties while also large and capable enough to seat up to
eight adults. Current average listing price: $36,2412.
- Best
Sports Car: Porsche 911 (992; Eighth Generation).
According to Smith, “The Porsche 911 is a
quintessential sports car in every way—it’s instantly recognizable,
offers limited practicality, and drives as if it were engineered
solely for performance. The 992-Series Porsche 911 has been on sale
since the 2019 model year and is offered in a wide range of trim
levels, from rear-wheel-drive convertibles to all-wheel-drive
coupes, and with powertrains that evolve from ‘fast’ to ‘how is
this legal?’.” Current average listing price:
$197,1772.
The full list of CarGurus Used Car Award winners can be found
here. Categories include the best small
crossover/SUV, best midsize crossover/SUV, best family car, best
city car, best large SUV, best luxury crossover/SUV, best small
pickup truck, best large pickup truck, best sports car, and
CarGurus Used Car of the Year Award.
Methodology:
CarGurus Used Car Award nominees were selected from car models
at least two years old and originally for sale in the U.S. Nominees
were shortlisted on criteria including availability and search
interest on CarGurus. CarGurus’ expert team of vehicle reviewers
evaluated each vehicle, after which the accumulated data was
analyzed to determine this year’s winners. Of note: Due to the
limited variety of electric vehicle (EV) models on the market two
years ago, this segment has been excluded this year. CarGurus
expects to feature its first-ever Used Car Awards EV category in
2025.
About CarGurus
CarGurus (Nasdaq: CARG) is a multinational, online automotive
platform for buying and selling vehicles that is building upon its
industry-leading listings marketplace with both digital retail
solutions and the CarOffer online wholesale platform. The CarGurus
platform gives consumers the confidence to purchase and/or sell a
vehicle either online or in-person, and it gives dealerships the
power to accurately price, effectively market, instantly acquire,
and quickly sell vehicles, all with a nationwide reach. The company
uses proprietary technology, search algorithms, and data analytics
to bring trust, transparency, and competitive pricing to the
automotive shopping experience. CarGurus is the most visited
automotive shopping site in the U.S.1
CarGurus also operates online marketplaces under the CarGurus
brand in Canada and the U.K. In the U.S. and the U.K., CarGurus
also operates the Autolist and PistonHeads online marketplaces,
respectively, as independent brands.
To learn more about CarGurus, visit www.cargurus.com, and for
more information about CarOffer, visit www.caroffer.com.
CarGurus® is a registered trademark of CarGurus, Inc., and
CarOffer® is a registered trademark of CarOffer, LLC. All other
product names, trademarks, and registered trademarks are the
property of their respective owners.
1 Similarweb: Traffic Insights, Q3 2023,
U.S.2Source: CarGurus listings data as of 1/15/2024
Media Contact:Maggie
MeluzioDirector, Public Relations & External
Communicationspr@cargurus.com
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