Although the new car supply chain is steadily improving, new cars continue to be priced well above MSRP (Manufacturer’s Suggested Retail Price). A new iSeeCars study found that the average new car price is 8.8 percent over MSRP, and some vehicles are priced well above this average.

Here are the new cars that are priced the highest above MSRP in each state.

The Genesis GV70 luxury compact SUV is the vehicle with the highest dealer markup in the most states with 22. The vehicle with the highest markup across all states is the Mercedes-Benz G-Class, which is priced 44.6 percent above MSRP in Georgia. Luxury SUVs are the most represented vehicle type, accounting for the highest marked-up vehicles in 29 states.

What Does This Mean for Consumers?

New car buyers can expect to pay higher-than-average prices for vehicles that are in high demand. The best way to avoid paying over sticker price is to broaden your search radius and consider similar vehicles that may not be as overpriced. Additionally, consumers in some cases can avoid markups by ordering directly from the manufacturer.

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iSeeCars.com analyzed over 12 million new car sales from February 2022 through February 2023. The average list prices of new cars, as well as the average of their MSRPs, were aggregated by month, as well as by body style and model. Heavy-duty vehicles and low-volume models were excluded from further analysis. The differences between average prices and average MSRP were expressed as percentage differences.

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