Inflation might have subsided, but that new car smell still comes with a steep price in 2024.
There’s nothing quite like getting behind the wheel of your new car, but rising prices can take a bit of the enjoyment out of it. According to a report from iSeeCars.com, car dealerships tacked an additional 7.2% on to MSRPs between January 2023 and January 2024, on average.
The report ranks the new vehicles with the steepest dealer markups — which are as high as 25.5% — based on an analysis of more than 16 million new car sales.
Read on for a look at the cars with the biggest dealer markups. Hopefully, you didn’t get sticker shock from any of them.
10. Cadillac CT4-V
Average MSRP: $55,873 as of January 2024
Average price: $66,633 as of January 2024 (19.3% more than the MSRP)
The CT4-V (as well as its souped-up and more expensive sibling, the CT4-V Blackwing) is a luxury sport sedan from the V Series of General Motors’ Cadillac brand. Cadillac describes the series, which dates back 20 years, as blending “exhilarating performance with refined luxury and an appetite for adrenaline.”
9. BMW X3 M
Average MSRP: $75,448 as of January 2024
Average price: $90,057 as of January 2024 (19.3% more than the MSRP)
BMW describes the 2024 X3 M as an “SUV on steroids.” It has 473 horsepower — or 503 horsepower with the optional Competition Package — and can go from 0 to 60 mph in either 3.9 seconds or 3.7 seconds, depending on whether you opt for the competition package.
8. Toyota Corolla Cross Hybrid
Average MSRP: $28,248 as of January 2024
Average price: $33,719 as of January 2024 (19.4% more than the MSRP)
Perhaps unsurprisingly, the Toyota Corolla Cross Hybrid is one of only two non-luxury car models on this list (although the other took the No. 1 spot). It’s also the most affordable model on this list.
The Cross is a compact SUV added to Toyota’s bestselling Corolla lineup in 2020, initially in Thailand, with both gasoline-powered and hybrid versions.
7. Porsche 718 Boxster
Average MSRP: $83,301 as of January 2024
Average price: $99,848 as of January 2024 (19.9% more than the MSRP)
Porsche says its 718 models — which include the Boxster, Cayman and Spyder — “unite the sporting spirit of the legendary Porsche 718 with the sports car of tomorrow.”
6. Cadillac CT5-V
Average MSRP: $56,043 as of January 2024
Average price: $67,254 as of January 2024 (20% more than the MSRP)
Like Cadillac’s CT4-V, the CT5-V is part of the auto brand’s V Series and is available in both standard and higher-performance Blackwing versions.
While the CT4-V is described as a luxury sports sedan, Cadillac describes the CT5-V as a midsize sports sedan.
5. Porsche Taycan (wagon)
Average MSRP: $121,248 as of January 2024
Average price: $146,594 as of January 2024 (20.9% more than the MSRP)
This four-door Taycan model is the most expensive model on this list, regardless of whether you go by its MSRP or its marked-up price.
The Porsche Taycan, launched in 2019, is the first all-electric car from the German automaker. It enjoyed a sizzling start to its tenure, winning both the World Luxury Car and World Performance Car titles at the World Car Awards in 2020.
4. Porsche Macan
Average MSRP: $66,310 as of January 2024
Average price: $80,421 as of January 2024 (21.3% more than the MSRP)
While the Macan is not the only Porsche on this list, it is the most affordable of them.
The compact SUV, which first became available in 2015, takes its name from a Japanese word. Porsche explains:
“The name comes from the language’s word for the Indonesian tiger and acknowledges the fierceness that lies beneath the car’s elegant exterior. The lively nature of the Macan is the reason why that today it’s universally considered the sportiest of compact SUVs.”
3. Porsche Cayenne
Average MSRP: $86,593 as of January 2024
Average price: $105,574 as of January 2024 (21.9% more than the MSRP)
The Cayenne is another SUV from Porsche — in fact, it’s the brand’s first SUV, dating back to 2002. A hybrid version came along in 2010 and then a plug-in hybrid version in 2014, making the Cayenne the first luxury SUV with plug-in hybrid technology, according to Porsche.
The Cayenne, designed to handle off-roading, was also the first model to feature Porsche Active Suspension Management.
And yes, it’s named after the cayenne pepper.
2. Porsche Taycan (sedan)
Average MSRP: $111,893 as of January 2024
Average price: $137,729 as of January 2024 (23.1% more than the MSRP)
The sedan version of the Taycan is the fifth and final Porsche on this list, meaning that half of the top 10 new car models for inflated prices in 2024 are from Porsche.
The Taycan’s name is derived from two terms of Turkic origin, translating roughly to “soul of a spirited young horse.”
1. MINI Hardtop
Average MSRP: $29,858 as of January 2024
Average price: $37,473 as of January 2024 (25.5% more than the MSRP)
The first Mini launched in 1959, borne of a desire to create a car that could carry four adults while being both fuel-efficient and affordable to the masses, thus its small size.
The MINI Hardtop model made its U.S. debut in 2002. Today, two-door and four-door versions are available.
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