2021 Models Already Starting To Sell Out

New car shoppers expecting to take advantage of year-end sales may find fewer deals this fall. That's because a major inventory shortage is resulting in an unusually quick model year change and 2021 models are already starting to sell out.

For example, our records show that the 2022 Kia Telluride went on sale last month. However, major car listing sites already show as few as 66 SUVs left in stock for the 2021 model year. The Telluride is one of the hottest-selling models.

Korean brands Hyundai and Kia appear to be the most affected at this point in time by the faster-than-usual selldown. The latest inventory data indicates the 2021 Kia Seltos, K5, Soul, Sportage, Stinger, and Hyundai Tucson have sold out.

Kia appears to be keenly aware of the situation. In a letter sent to dealers on Monday, the brand says it will no longer offer lease incentives on many of these vehicles after September 7. That could force buyers to choose a 2022 model instead.

Other models like the 2021 Honda Odyssey, Honda Insight, Toyota Prius, Toyota Prius Prime, and several others appear to have already sold out. Unfortunately, 2022 model year car incentives haven't yet ramped up on any of these vehicles.

This could put consumers in a position to pay even more to buy the car they want. Apart from potential dealer markups, higher interest rates and price increases can make newer models more costly to buy and may even require a deposit.

Recent market dynamics may challenge buyers' preconceptions. While more brands are paying customers to wait, there will likely continue to be shoppers deciding whether or not to delay their purchase and if it's worth buying a 2022 vehicle.

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