In 2024, car dealerships increased MSRPs by an average of 7.2% between January 2023 and January 2024, despite the potential for reduced excitement.
Steepest Car Price Markups: In 2024, the fragrance of a new automobile may have diminished, but the cost is still high. Nothing compares to taking the wheel of a brand-new vehicle, although the excitement may be somewhat diminished by growing costs. Car dealerships added an average of 7.2% to MSRPs between January 2023 and January 2024, according to a survey from iSeeCars.com.
A study of over 16 million new automobile sales is used to determine which new cars have the highest dealer markups, which can reach up to 25.5%.
See the vehicles with the highest dealer markups by continuing to read. Hopefully, none of these caused sticker shock for you.
MSRP average as of January 2024: $55,873.
As of January 2024, the average price was $66,633 (19.3% higher than the MSRP).
The CT4-V is a premium sport sedan from General Motors’ Cadillac V Series. It also has a more powerful and costly brother, the CT4-V Blackwing. The 20-year-old series, according to Cadillac, combines “exhilarating performance with refined luxury and an appetite for adrenaline.”
MSRP average as of January 2024: $75,448
As of January 2024, the average price was $90,057 (19.3% higher than the MSRP).
The 2024 X3 M, according to BMW, is a “SUV on steroids.” It boasts 473 horsepower, or 503 horsepower if you choose to add the Competition Package. Depending on the package, it can accelerate from 0 to 60 miles per hour in 3.9 or 3.7 seconds.
MSRP average as of January 2024: $28,248
As of January 2024, the average price was $33,719 (19.4% higher than the MSRP).
The Toyota Corolla Cross Hybrid is one of just two non-luxury automobile models on this list, which may come as no surprise given that the other model came in first. On this list, it’s also the most reasonably priced model.
In 2020, Toyota introduced the Cross, a small SUV with both gasoline and hybrid powertrain options, to its popular Corolla lineup. The Cross was first offered in Thailand.
January 2024: $83,301 is the average MSRP.
As of January 2024, the average price was $99,848 (19.9% over the MSRP).
The Boxster, Cayman, and Spyder are among the 718 vehicles that Porsche claims “unite the sporting spirit of the legendary Porsche 718 with the sports car of tomorrow.”
MSRP average as of January 2024: $56,043
As of January 2024, the average price was $67,254 (20% above the MSRP).
The Cadillac CT5-V, like the CT4-V, is a member of the V Series and comes in basic and higher-performance Blackwing variants.
Cadillac refers to the CT5-V as a midsize sports sedan, whilst the CT4-V is referred to as a premium sports sedan.
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MSRP average as of January 2024: $121,248
As of January 2024, the average price was $146,594 (20.9% over the MSRP).
Whether you look at its MSRP or its marked-up pricing, this four-door Taycan variant is the priciest vehicle on this list.
The German automaker’s first all-electric vehicle is the Taycan, which debuted in 2019. It had a spectacular debut at the 2020 World Car Awards, taking both the World Performance Car and World Luxury Car awards.
MSRP average as of January 2024: $66,310
As of January 2024, the average price was $80,421 (21.3% higher than the MSRP).
Although there are other Porsches on our list as well, the Macan is the most reasonably priced.
The 2015 release of the small SUV gave it its moniker, which is derived from a Japanese term. Porsche clarifies:
“The name recognises the fierceness that lies beneath the car’s elegant exterior and is derived from the language’s term for the Indonesian tiger.” Today, the Macan is unanimously regarded as the sportiest small SUV due to its dynamic personality.
MSRP average as of January 2024: $86,593.
As of January 2024, the average price was $105,574 (21.9% higher than the MSRP).
Porsche also makes the Cayenne SUV, which debuted in 2002 and was the brand’s first SUV. Porsche claims that the Cayenne is the first premium SUV with plug-in hybrid technology. A hybrid version debuted in 2010 and a plug-in hybrid version followed in 2014.
Porsche Active Suspension Management was initially introduced in the Cayenne, a vehicle built for off-roading.
Its name is indeed derived from the cayenne pepper.
MSRP average as of January 2024: $111,893.
As of January 2024, the average price was $137,729, which is 23.1% higher than the MSRP.
With the Taycan sedan ranking as the fifth and last Porsche on this list, Porsche accounts for half of the top ten new vehicle models with the highest sticker prices in 2024.
The Taycan moniker, which roughly translates as “soul of a spirited young horse,” is derived from two elements of Turkic origin.
MSRP average as of January 2024: $29,858
As of January2024, the average price was $37,473, which is 25.5% higher than the MSRP.
The original Mini was compact because it was designed to be a mass-market vehicle that could seat four persons comfortably and use little gasoline. It was introduced in 1959.
In 2002, the MINI Hardtop model debuted in the United States. There are four-door and two-door models available now.
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