If you've been listening to the nationally syndicated CarPro radio show you've heard automotive expert and host Jerry Reynolds talk about the issues continuing to face both the car industry and car shoppers right now. Inventory shortages are resulting in higher prices and fewer incentives leaving many consumers to deal with the harsh reality of paying over MSRP for their new vehicle. Depending on each buyer's situation, Reynolds will either advise them to wait or make a move now to take advantage of high used car trade-in values.
To get an idea of how much some vehicles are selling for over MSRP we turn turn iSeeCars.com. Its recent analysis of 1.9 million new car listings found the average new vehicle is priced 10.0 percent above MSRP and some new vehicles are priced well above the 10.0 percent average. Researchers say making a higher profit on specific models offsets lower sales volumes due to inventory shortages. iSeeCars.com researchers say consumers in today's market are willing to pay over MSRP since they know pricing won't improve until 2023 at the earliest.
Here are the Top 15 cars with the greatest markups according to iSeeCars. Prices range from 1.8 to 2.4 times above the 10.0 percent average for all vehicles.
When it comes to the highest percentage over MSRP, the Jeep Wrangler is number one, followed by the Porsche Macan and Genesis GV70. When it comes to the highest dollar amount over MSRP, the Porsche Cayenne is number one, followed by the Chevrolet Corvette and Porsche Macan.
New Cars Priced the Highest Over MSRP - iSeeCars.com |
|||
Rank |
Vehicle |
% Above MSRP |
$ Above MSRP |
1 |
24.4% |
$8,433 |
|
2 |
Porsche Macan |
23.1% |
$14,221 |
3 |
22.4% |
$10,278 |
|
4 |
21.9% |
$10,847 |
|
5 |
21.6% |
$8,697 |
|
6 |
Jeep Wrangler Unlimited |
20.0% |
$8,877 |
7 |
19.9% |
$8,335 |
|
8 |
Porsche Cayenne |
19.6% |
$16,750 |
9 |
Chevrolet Corvette |
19.5% |
$14,697 |
10 |
19.0% |
$7,650 |
|
11 |
MINI Hardtop 2 Door |
18.8% |
$5,426 |
12 |
Lexus RX 350L |
18.8% |
$9,423 |
13 |
18.5% |
$8,478 |
|
14 |
18.4% |
$4,614 |
|
15 |
18.0% |
$10,124 |
|
Overall Average |
10.0% |
$3,946 |
To read the complete iSeeCars.com analysis click here.