3 Popular New SUVs Priced the Highest Above MSRP
Looking for a new car, truck, or SUV? It seems shoppers are willing to pay extra for some popular new SUVs, sometimes even 20% more. While demand for sport utility vehicles remains high, that leaves consumers in a pickle. Some of the options on this list come from Genesis, Jeep, and Mercedes-Benz, which isn’t exactly a bad thing for automakers. Having a popular vehicle that people are willing to spend more on reflects the production quality.
The Genesis GV70 is a popular new SUV that drivers seem to like
A recent iSeeCars study looked at new vehicles with a cost over MSRP, but the list isn’t surprising. At the top of that list is the Genesis GV70, a popular new SUV that will cost a little extra these days. Even though the Manufacturer Suggested Retail Price (MSRP) is around $44,299 on average, most customers are paying quite a bit more. The actual average amount paid is around $56,476, a 27.5% difference.
This discrepancy usually comes down to a few reasons, such as supply and demand. The Genesis GV70 is new and popular, which means many drivers are likely hoping to secure one from the dealership. Supply chain issues have continued to impact production for automakers, which could be why the GV70 is marked up so high. There is more interest in the Genesis SUV than Genesis has to offer.
The average listing amount for a new vehicle has increased by 6.5% in the last 12 months, jumping from $42,551 to $45,996. iSeeCars says the average cost of a new car is up 8.8% over MSRP, on top of the already higher MSRPs from a year ago.
The Jeep Wrangler is always on the list of popular new SUVs
The rest of the list of popular new SUVs that might cost a little extra right now are more expensive luxury vehicles. Except for the Jeep Wrangler, of course. The Jeep Wrangler has been on similar lists a few times, as more people want a Wrangler than Jeep can make. It also comes from the factory, which is quite customizable and suitable for more potential drivers. The average MSRP for a Wrangler is $35,827, but many have been subject to a 23.9% increase. That puts the Jeep at 44,396 on average.
Karl Brauer, an executive analyst at iSeeCars, said, “All but two of these high-priced models are luxury vehicles, reflecting the ongoing confidence and willingness of luxury buyers to spend whatever it takes to get the vehicle they want.” Both the Jeep Wrangler and Jeep Wrangler Unlimited have high demand and a loyal following, so much so that supply isn’t enough year after year.
The Mercedes-Benz GLB delivers luxury
The third place on the list of popular new SUVs costing the most over MSRP is the Mercedes-Benz GLB. The average cost of a GLB is $41,061, but most shoppers end up paying $50,452 or more. That’s a 22.9% increase over the manufacturer’s suggestion. This was the only option for Mercedes and could be for a few reasons. The GLB is one of the more affordable SUVs in the lineup these days, even though it does have its AMG lineup available.
Perhaps the automaker hasn’t been able to keep up with the demand for the GLB SUV, which has led to this list. Either way, consumers are willing to pay extra for the luxury sport utility vehicle with seating for up to seven.
The cost of sport utility vehicles is down slightly from 2022, but the average is still $45,694. Coupes, convertibles, and trucks have seen the most significant jump. Brauer suggests that the increased cost of gas drove up demand for smaller and more fuel-efficient vehicles.
