As anyone who’s recently bought a new car may already know, it’s not a great time to buy one. The market did not escape the pandemic unscathed by the supply chain issues that have plagued other industries; in this case, a microchip shortage is to blame for much of the production hold-up.
With low supply and high demand, it’s no surprise that dealers are ratcheting up the prices on the new cars they do have. What might be more surprising is just how much. After crunching the numbers on 1.9 million new car listings, analysts at iSeeCars determined that the average price of a new vehicle is roughly 10 percent higher than the manufacturer’s suggested retail price (MSRP).
“In today’s market, consumers are willing to pay well above sticker price for new cars because inventory is so scarce and because they know that new car pricing is not expected to improve until 2023 at the earliest,” iSeeCar’s executive analyst Karl Brauer explained.
But if you can’t wait months for prices to sink to a more modest level before springing for a fresh set of wheels, you can at least try to avoid the more overpriced models. iSeeCars compiled a convenient list of the top 15, starting with the Jeep Wrangler—whose average price is a staggering 24.4 percent above the MSRP. New Jeeps in general might not be your best bet for an inexpensive vehicle. Two others made the list, including the four-door Jeep Wrangler Unlimited and the pickup Jeep Gladiator.
Plenty of luxury SUVs will cost you a pretty penny more than the MSRP these days, too. Seven models landed on the list, from the sleek Porsche Macan in second place to the Genesis GV80 in the last spot.
See which other cars made the top 15 below, and check out the full study here.
1. Jeep Wrangler // 24.4 percent
2. Porsche Macan // 23.1 percent
3. Genesis GV70 // 22.4 percent
4. Lexus RX 450h // 21.9 percent
5. Ford Bronco // 21.6 percent
6. Jeep Wrangler Unlimited // 20 percent
7. Cadillac CT5 // 19.9 percent
8. Porsche Cayenne // 19.6 percent
9. Chevrolet Corvette // 19.5 percent
10. Mercedes-Benz GLB // 19 percent
11. MINI Hardtop 2 Door // 18.8 percent
11. Lexus RX 350L // 18.8 percent
12. Jeep Gladiator // 18.5 percent
13. Ford Maverick // 18.4 percent
14. Genesis GV80 // 18 percent