We’ve been hearing that new car prices are coming back in line with reality, but a recent iSeeCars study found that new models are still commonly priced above MSRP, and dealers are tacking more charges on top of that.
iSeeCars analyzed 13 million new cars and found that new vehicles are priced 8.5% above MSRP on average, but the firm noted that several models are selling for 18% or more above their sticker prices. Average pricing has also increased 7.4% from last year, reaching $46,265.
The ten new cars priced highest above their MSRPs include:
On the other hand, there were plenty of vehicles selling at or below MSRP, including some EVs and hybrids, including:
iSeeCars cites low production numbers and strong demand as driving factors behind the models, with prices much higher than MSRP. Some models on the list, including the Wrangler and CT4-V, are considered aspirational vehicles that buyers are willing to splash out the money to obtain.
Some of the less expensive models saw price drops due to government EV incentives, as automakers such as Hyundai and Volvo missed out on tax credit eligibility due to their where their EVs are manufactured. Without the government’s helping hand to drive sales, dealers have had to price some EV models, including the Hyundai Ioniq 5, more aggressively to attract buyers. Lower gas prices have also played a role, tamping down interest in hybrids like the Pacifica and F-150.
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