We're almost through the third quarter of 2023, and still, sticker prices on new cars continue to be priced well above MSRP. According to data from iSeeCars:
iSeeCars researchers say the higher MSRP prices continue even as the supply chain slowly improves, and despite rising economic concerns that typically dampen consumer demand for large ticket items.
Researchers compared February 2023 to February 2022 and found that manufacturer pricing for new cars was up 7.6 percent year-over-year from an average MSRP of $38,707 in February 2022 to $42,608 in February 2023.
On top of the manufacturer MSRP increase, iSeeCars says the average dealer listing price for new cars has increased 6.5 percent in the past 12 months, rising from $42,551 to $45,996.
iSeeCars.com says this means today’s average new car price is 8.8 percent over MSRP, on top of the higher MSRPs compared to a year ago.
For a list of monthly average dealer prices verses the average MSRP for vehicles between February 2022 and 2023 click here.
iSeeCars does however share some encouraging news for consumers. Researchers say average MSRP seems to have either peaked or plateaued in January 2023, falling slightly in February. Second, the pricing increase over MSRP peaked back in July of 2022, at 10.2 percent over MSRP. Relative pricing has fallen ever since, with average new car prices now 8.8 percent above MSRP.
If you want to avoid way over MSRP, you'll want to avoid the ten models listed below, going for between 20 and 27.5 percent above MSRP. All but two are luxury models.
|
New Cars Priced Highest Over MSRP, February 2023 – iSeeCars Study |
||||
|
Rank |
Model |
Avg MSRP |
Avg Price |
Price - MSRP % Difference |
|
1 |
$44,299 |
$56,476 |
27.5% |
|
|
2 |
$35,827 |
$44,396 |
23.9% |
|
|
3 |
Mercedes-Benz GLB |
$41,061 |
$50,452 |
22.9% |
|
4 |
Porsche Taycan |
$100,169 |
$122,940 |
22.7% |
|
5 |
$45,386 |
$55,347 |
21.9% |
|
|
6 |
$57,737 |
$69,904 |
21.1% |
|
|
7 |
$56,388 |
$68,240 |
21.0% |
|
|
8 |
Porsche Macan |
$61,589 |
$74,275 |
20.6% |
|
9 |
$41,870 |
$50,383 |
20.3% |
|
|
10 |
Lexus RX 350h |
$49,339 |
$59,347 |
20.3% |
|
National Average |
$41,637 |
$45,296 |
8.8% |
|
While the average new model is priced 8.8 percent above MSRP, it's possible to find vehicles close to MSRP or even below MSRP. If paying close to MSRP is important to you, you'll want to consider these 10 models:
|
New Cars Priced Below/Closest to MSRP, February 2023 – iSeeCars Study |
||||
|
Rank |
Model |
Avg MSRP |
Avg Price |
Price - MSRP % Difference |
|
1 |
$51,103 |
$50,116 |
-1.9% |
|
|
2 |
$45,827 |
$45,648 |
-0.4% |
|
|
3 |
Cadillac LYRIQ |
$61,795 |
$61,575 |
-0.4% |
|
4 |
$81,656 |
$81,666 |
0.0% |
|
|
5 |
$61,644 |
$62,175 |
0.9% |
|
|
6 |
Chevrolet Malibu |
$27,597 |
$27,887 |
1.1% |
|
7 |
Ford F-150 (hybrid) |
$84,400 |
$85,791 |
1.6% |
|
8 |
$43,832 |
$44,697 |
2.0% |
|
|
9 |
$38,658 |
$39,487 |
2.1% |
|
|
10 |
$42,288 |
$43,248 |
2.3% |
|
|
National Average |
$41,637 |
$45,296 |
8.8% |
|
Coupes, convertibles and trucks saw the first price hikes when the pandemic started according to researchers. Three years later, those are the segments that still remain the most expensive vehicles relative to MSRP. (Trucks, too, even though several models took spots in the Below/Closest MSRP group.)
The segment to see the most recent price hike is hatchbacks. iSeeCars says hatchback prices were up 3.2% this February over last. Sedans were up .02%.
To see a list of segment MSRP's year over year and for more study data visit iSee.Cars.com.