If you want a luxury crossover, the Genesis GV70 tempting choice. Looks ridiculously good also available with a 375-horsepower V6, has a gorgeous cabin and comes with a 10-year powertrain warranty. With a base price of under $45,000, it’s a bargain compared to the BMW X3 and Mercedes-Benz GLC. Or at least it would be if they actually sold it for MSRP. Which is very much not.
CNBC reports that last month, the Genesis GV70 had the highest markup percentage of any vehicle sold, 28 percent over MSRP. Suddenly the GV70 doesn’t sound like such a bargain anymore. It’s not the only vehicle still being sold at ridiculous premiums. 31 percent of cars sold last month were above MSRP, and at least 10 were marked up by 20 percent or more.
After the GV70, the Jeep Wrangler had the second highest average premium, followed by the Mercedes-Benz GLB, Porsche Taycan, Jeep Wrangler Unlimited, Cadillac CT4-V, Genesis GV80, Porsche Macan, Cadillac CT5 and Lexus RX350h. If you’re considering buying one of these, you might want to wait until the prices drop or buy a lower-priced competitor.
That said, there are some not-totally-horrible deals out there. The Chevrolet Silverado is said to be selling for slightly less than MSRP, and the Volkswagen Arteon, Cadillac Lyriq and Infiniti QX80 basically sold on sticker last month. We also see new car prices down from where they were in July, when 48 percent of cars went for more than MSRP. So things are improving, just not fast enough.
“Manufacturers keep raising their prices, and then dealers raise them again,” said Karl Brauer, managing analyst at iSeeCars. CNBC. “The gap between dealer pricing and MSRP should continue to narrow as the supply chain improves, although a return to MSRP may not happen this year for most models.”
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If you absolutely need to buy a new car soon, your best bet is to expand your search beyond your local dealerships and see if you can find a reasonable deal. But if you can, it’s still worth waiting for prices to drop further.
