Wait a minute. We thought the Ford Bronco and Kia Telluride had the highest truck and SUV markups. But it’s time for them to move over as the Jeep Wrangler enters the spotlight. The 2022 Jeep Wrangler has the highest markup above MSRP.
The 2022 Jeep Wrangler has the highest markup
Other vehicles, like the Ford Bronco, Ford Maverick, and Kia Telluride, have been in the news with high demand and incredibly high markups. However, the 2022 Jeep Wrangler has been flying under the radar with the highest markup over MSRP of all.
According to a study by iSeeCars, the average new vehicle is currently priced at about 9.9 percent above the manufacturer’s suggested retail price (MSRP). Over 1.2 million new vehicle listings were analyzed to determine the truth about markups.
The Jeep Wrangler is listed at 26.7 percent of about $8,925 above MSRP. The new Ford Maverick is in second place with a 25.0 percent or $5,601 markup. Also, the Ford Bronco landed in 8th place with a 20.6 percent or $7,783 markup.
Why does the Wrangler have such a high markup?
Despite facing competition from the new Ford Bronco, the 2022 Jeep Wrangler still has an astonishingly high demand. It’s one of the most popular SUVs you can buy, and demand exceeds supply.
iSeeCars Executive Analyst Karl Brauer shared that dealers are responding to current market conditions by pricing vehicles above MSRP to make more profit on specific models to offset lower inventory and sales volume due to limited car production.
Some people are willing to pay well-above sticker prices for the most in-demand options because it’s the only way to get the ride of their choice while avoiding long waiting times. Some Bronco fans have been waiting months for their dream SUV to arrive.
The Jeep Wrangler has an advantage by being one of the SUVs with the highest resale value, making them a safer bet. Also, the Wrangler’s rugged quality and enthusiastic fan base contribute to buyers paying premium prices while they remain scarce on new car lots.
The Jeep Wrangler has the lowest depreciation rate of 9.2 percent over five years compared to the 40.1 percent average. The Ford Mustang is the only Ford model that made the top 10 list of vehicles with the lowest depreciation rates.
Reportedly, the microchip shortage contributes to slowly the average depreciation rate down across all vehicles. However, electric vehicles and luxury vehicles have the highest depreciation rate.
What’s new for the 2022 Wrangler?
The 2022 Jeep Wrangler is primarily a carryover model. It’s part of the fourth Wrangler generation that was introduced in 2018. The Wrangler is due for a mid-cycle refresh which could occur in 2023 or 2024.
For 2022, the Wrangler gains the Willys model with the Xtreme Recon package. This trim includes 35-inch BF Goodrich KO2 all-terrain tires wrapped around 17-inch wheels, a 1.5-inch suspension lift, enhanced brakes, and blacked-out exterior accents and badges.
The Willys model comes standard with the beefier 3.6-liter V6 engine and is only available in the four-door Unlimited body style. Also, pricing for the 2022 Wrangler starts at $29,995. We keep an eye out for production and pricing updates.