Will the 2023 Toyota RAV4 Also Be More Expensive?
The Toyota RAV4 is one of the most popular small crossover SUVs and will likely continue providing value in 2023, even without a significant redesign. Some competitors, including the Honda CR-V and Hyundai Tucson, have already released pricing information, but there’s no word yet on the 2023 Toyota RAV4 price. Will Toyota increase the RAV4’s price?
2023 Toyota RAV4 price estimate
The 2022 Toyota RAV4’s $26,525 starting price placed it midway in the range of competitors. However, Kelley Blue Book expects the 2023 Toyota RAV4 price to hover around $27,000. If that estimate is correct, the roughly $500 increase will likely keep pace with rivals and make the new RAV4 significantly cheaper than the 2023 Honda CR-V.
Such a minor price increase only keeps up with inflation, so don’t expect any new design innovations from the 2023 Toyota RAV4. But Kelley Blue Book predicts “a round of minor cosmetic changes” for the forthcoming model. These small tweaks could include a restyled grille or updated headlight and taillight shapes. Considering the RAV4’s popularity, Toyota likely won’t do anything extreme as the RAV4 continues to be one of the auto giant’s top sellers.
Higher-tier 2023 RAV4 trims, such as the TRD Off-Road and the more luxurious Limited, should top out at around $36,000. Mid-range RAV4 models, including hybrids, should hold their values somewhere between $30,000 and $35,000 throughout the 2023 model year.
2023 Hyundai Tucson price
Much like the 2023 Toyota RAV4, the 2023 Hyundai Tucson isn’t much different from last year’s model. Kelley Blue Book reports the only thing new about the latest Tucson lineup is the deletion of the SEL Premium Package and the addition of a 10.25-inch infotainment screen as standard equipment for more trim levels. So it’s no surprise that pricing for the base model 2023 Hyundai Tucson SE increased by only $650 to $26,450 over the 2022 model year’s $25,800 price, keeping it under the RAV4’s expected starting price.
The 2023 Hyundai Tucson SEL starts at $28,050. Other mid-range trims, like the off-road-focused XRT and the performance-driven N line, rise above $33,000, but only by a few hundred dollars. The range-topping Limited comes in at $35,710. Upgrading to all-wheel drive costs an extra $1,500. Then Hyundai adds a $1,295 destination fee to every Tucson.
2023 Honda CR-V price
2023 Honda CR-V buyers will enjoy the benefits of a complete redesign over the 2022 model. But the new style comes with a $4,700 price increase. The 2023 Honda CR-V base-model EX starts at $31,110, but this crossover is now on the larger side of the compact SUV class. Standard equipment in the new CR-V includes “a power moonroof, heated front seats, dual-zone automatic climate control, and a new 7.0-inch infotainment system with Android Auto and Apple CarPlay,” Kelley Blue Book reports.
Other trims include the $33,760 EX-L and the $32,450 hybrid CR-V Sport. Opting for the available AWD adds $1,500 to any of these models, but the Sport Touring trim includes AWD for $38,600. Finally, Honda tacks on a $1,245 destination fee.
Is the 2023 Toyota RAV4 a good value?
If the experts’ pricing predictions hold and the 2023 Toyota RAV4 price increases by about $500, the RAV4 will remain one of the best values in the compact SUV class. Toyota’s reputation for reliability and quality, combined with RAV4’s utility and style, make this crossover an excellent buy whose popularity won’t diminish due to a slight price increase.