That new car smell now comes with a steeper price.
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, carmakers raised MSRPs (manufacturer’s suggested retail prices) by an average of 7.4% from June 2022 to June 2023.
Moreover, dealerships have tacked an additional 8.5% on to MSRPs, on average. The iSeeCars report ranks the new vehicles with the steepest dealer markups — which are as high as 31%.
To gather its findings, iSeeCars looked at more than 13 million new cars rom June 2022 to June 2023 and aggregated by month the average MSRPs and dealer prices. Body style, fuel type and model were also taken into account.
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. Lexus RX 350h
Average MSRP: $51,243 as of June 2023
Average price: $61,364 as of June 2023 (19.7% more than the MSRP)
This hybrid luxury crossover gets a combined mpg of 36, and Kelley Blue Book rated it among its safest new SUVs and minivans of 2023, based on data from the U.S. National Highway Traffic Safety Administration and the Insurance Institute for Highway Safety.
9. Porsche Macan
Average MSRP: $63,041 as of June 2023
Average price: $76,197 as of June 2023 (20.9% more than the MSRP)
This luxury crossover from the German automaker tied with the BMW X4 for No. 1 in J.D. Power’s Compact Premium SUV category, with high marks for driving experience and resale. Both vehicles earned an overall score of 83 out of 100.
8. Mercedes-Benz E-Class (wagon)
Average MSRP: $87,619 as of June 2023
Average price: $106,081 as of June 2023 (21.1% more than the MSRP)
7. Mercedes-Benz GLB
Average MSRP: $42,032 as of June 2023
Average price: $50,947 as of June 2023 (21.2% more than the MSRP)
The U.S. National Highway Traffic Safety Administration gives this SUV five out of five stars for safety.
6. Toyota Corolla Cross Hybrid
Average MSRP: $27,996 as of June 2023
Average price: $33,951 as of June 2023 (21.3% more than the MSRP)
This vehicle gets an estimated 42 combined mpg and comes in whimsical colors such as Wind Chill Pearl, Barcelona Red Metallic and Sonic Silver. Car and Driver gave it a mediocre 7.5 out of 10 for “mundane handling” and “dreary cabin design.”
5. Porsche Taycan
Average MSRP: $101,970 as of June 2023
Average price: $124,577 as of June 2023 (22.2% more than the MSRP)
The first electric car from the famous German automaker had a sizzling start to its tenure, winning both the World Luxury Car and World Performance Car titles at the World Car Awards in 2020. But consumers aren’t as thrilled with the 2023 model, which got a rating of 61 out of 100 for quality and reliability by J.D. Power.
4. Cadillac CT4-V
Average MSRP: $58,716 as of June 2023
Average price: $72,622 as of June 2023 (23.7% more than the MSRP)
Cadillac’s CT4 V-series includes the CT4-V in the iSeeCars ranking as well as the souped-up CT4-V Blackwing.
Car and Driver listed the CT4-V Blackwing among its 10 best cars for 2023. Its performance numbers include 472 horsepower, 0 to 60 mph in 3.9 seconds and a top speed of 189 mph — don’t try that at home.
3. Genesis GV70
Average MSRP: $45,568 as of June 2023
Average price: $56,974 as of June 2023 (25% more than the MSRP)
2. MINI Hardtop 2-door/4-door
Average MSRP: $29,632 as of June 2023
Average price: $37,237 as of June 2023 (25.7% more than the MSRP)
MotorTrend deems the MINI Hardtop’s estimated five-year cost to own of $36,435 as excellent. But Edmunds says the faults of the two-door version (such as a brake pedal that feels too soft and is not communicative enough) “may be too glaring to ignore,” and the four-door version offers “no additional power or performance upgrades.”
1. Jeep Wrangler Unlimited
Average MSRP: $41,966 as of June 2023
Average price: $54,970 as of June 2023 (31% more than the MSRP)
Kelley Blue Book rates this four-door SUV as “awesome off-road” but dings it for “noise tradeoffs.” Overall, though, KBB says it’s “all but unbeatable for anyone seeking off-road thrills.”