Production shutdowns and supply chain issues from the ongoing microchip shortage have drastically lowered new car inventory. As demand continues to exceed the supply of new cars, dealers are pricing new cars above MSRP (Manufacturer’s Suggested Retail Price) and removing new car incentives.

A recent iSeeCars analysis of 1.2 million new car listings found the average new vehicle is priced 9.9 percent above MSRP, and all new vehicles have average prices that are above MSRP. Additionally, some new vehicles are priced well above the 9.9 percent average.  

“Dealers have responded to market conditions by pricing cars above MSRP to make a higher profit on specific models and to help offset lower sales volumes due to restricted new car production,” said iSeeCars Executive Analyst Karl Brauer. “In today’s market, consumers are willing to pay well-above sticker price for the most in-demand vehicles because it’s the only way they can get the vehicle of their choice and avoid a lengthy wait.”

The top 15 cars with the highest price increases range from 1.9 to 2.7 times above the 9.9 percent average for all vehicles.

New Cars Priced the Highest Over MSRP - iSeeCars
Rank Vehicle % Above MSRP $ Above MSRP
1 Jeep Wrangler 26.7% $8,925
2 Ford Maverick (Hybrid) 25.0% $5,601
3 Porsche Macan 23.3% $13,254
4 Jeep Wrangler Unlimited 22.9% $9,534
5 Jeep Gladiator 22.5% $9,824
6 Ford Maverick 22.2% $5,368
7 Lexus RX 450h 21.0% $10,365
8 Ford Bronco 20.6% $7,783
9 Genesis GV70 20.0% $8,611
10 Mercedes-Benz GLB 19.8% $7,992
11 Chevrolet Corvette 19.3% $15,218
12 Ford Mustang 19.1% $6,941
13 MINI Countryman 18.9% $6,325
14 Lexus RX 350L 18.6% $9,242
15 Mercedes-Benz GLA 18.6% $7,142
Overall Average 9.9% $3,753
The vehicle with the greatest markup is the Jeep Wrangler, which is priced 26.7 percent or $8,925 over MSRP. It’s joined by its four-door version, the Jeep Wrangler Unlimited, and its pickup variant, the Jeep Gladiator.  “As demand continues to exceed supply for these popular vehicles, dealers are tacking on market adjustments generally ranging from $2,000 to $10,000 on top of their MSRPs,” said Brauer. “The Jeep Wrangler and the Jeep Wrangler Unlimited are among the cars that hold their value best due to their ruggedness and enthusiastic fan base, which likely contributes to car buyers paying a premium for them amid their scarcity on new car lots.” 

The hybrid version of the Ford Maverick compact pickup truck and its gasoline version, both of which debuted in 2022, also make the list. “The Maverick compact pickup has been in high demand since its debut, which forced dealers to stop taking orders for both versions at the end of January and not resume until summer,” said Brauer. “Heightened gas prices have boosted demand for this already hot seller, with both the hybrid and gasoline versions returning excellent gas mileage, and even these marked-up pickups remain attainable for buyers given their starting prices of around $20,000.” 

Joining the Maverick pickups is an additional Ford vehicle, the Bronco rugged off-road compact SUV. “The Ford Bronco has been in high demand since its debut last year, and this demand has exceeded supply as inventory shortages have led to long waitlists for the vehicle,” said Brauer. “Ford has already closed the order books for the Bronco for the remainder of 2022, and market adjustments have become commonplace for dealer inventory.”

Two classic American sports cars also make the list: the Chevrolet Corvette and the Ford Mustang.  “Demand for the mid-engine Chevrolet Corvette has exceeded supply since its launch for the 2020 model year, and its high demand contributes to the vehicle consistently selling over MSRP,” said Brauer. “The Ford Mustang Shelby GT500 special edition is Ford’s most powerful production car ever, and the popularity of the high-performance trim contributes to the model’s price increase.”

The Porsche Macan makes the list with a 23.3 percent markup over its MSRP. “The Macan compact SUV is Porsche’s most popular model, and dealers are charging over MSRP as demand exceeds supply,” said Brauer. “Moreover, the Macan is one of the most expensive vehicles in its class, and the buyers it attracts are likely willing to pay above its sticker price.” 

Five additional luxury SUVs make the list including the Lexus RX 450h, the Genesis GV70, the Mercedes-Benz GLB, the Lexus RX 350L, and the Mercedes-Benz GLA. “Hybrid vehicles like the Lexus RX 450h have been popular sellers due to the rise in gasoline prices, as well as smaller SUVs like the compact Mercedes-Benz GLB, and the subcompact Mercedes-Benz GLA,” said Brauer. “Markups have also been common for the RX 350L three-row crossover and the new-for-2022 Genesis GV70.”

Rounding out the list is the MINI Countryman subcompact SUV. “The Countryman is MINI’s best-selling model, and the surge in gas prices has likely boosted the fuel-efficient vehicle’s popularity,” said Brauer.

Average Dealer Markups by City

iSeeCars looked at the top 50 most populous metro areas to see which metro areas had the smallest and largest average price increases above MSRP.
Average Price Increases Above MSRP by City - iSeeCars
Rank Vehicle % Above MSRP $ Above MSRP
1 Detroit, MI 6.5% $2,526
2 Louisville, KY 7.4% $2,605
3 St. Louis, MO 7.9% $2,954
4 Harrisburg-Lancaster-York, PA 8.6% $2,929
5 Grand Rapids-Kalamazoo, MI 8.7% $3,286
6 Las Vegas, NV 9.0% $3,296
7 Cincinnati, OH 9.0% $3,180
8 Norfolk-Portsmouth-Newport News,VA 9.0% $3,234
9 Hartford & New Haven, CT 9.1% $3,270
10 Pittsburgh, PA 9.2% $3,330
11 Columbus, OH 9.2% $3,347
12 Baltimore, MD 9.3% $3,445
13 Greensboro-Winston Salem, NC 9.4% $3,350
14 Minneapolis-St. Paul, MN 9.4% $3,603
15 Kansas City, MO 9.4% $3,531
16 New York, NY 9.5% $3,752
17 Salt Lake City, UT 9.5% $3,621
18 Phoenix, AZ 9.6% $3,701
19 Tampa-St Petersburg (Sarasota), FL 9.7% $3,500
20 Raleigh-Durham (Fayetteville), NC 9.7% $3,584
21 Orlando-Daytona Beach, FL 9.7% $3,421
22 Charlotte, NC 9.7% $3,587
23 Seattle-Tacoma, WA 9.7% $3,660
24 Washington, DC (Hagerstown, MD) 9.8% $3,766
25 Miami-Ft. Lauderdale, FL 9.8% $3,568
26 Houston, TX 9.8% $3,944
27 Portland, OR 9.8% $3,741
28 Nashville, TN 9.9% $3,599
29 San Diego, CA 9.9% $3,727
30 Los Angeles, CA 9.9% $3,994
31 New Orleans, LA 9.9% $3,657
32 Jacksonville, FL 9.9% $3,529
33 Cleveland-Akron (Canton), OH 9.9% $3,650
34 Indianapolis, IN 10.0% $3,738
35 West Palm Beach-Ft. Pierce, FL 10.1% $3,760
36 Chicago, IL 10.1% $3,904
37 Philadelphia, PA 10.2% $3,924
38 Boston, MA-Manchester, NH 10.3% $3,916
39 Oklahoma City, OK 10.3% $3,988
40 Milwaukee, WI 10.4% $3,805
41 Greenville-Spartanburg, SC 10.4% $3,737
42 Dallas-Ft. Worth, TX 10.5% $4,163
43 Denver, CO 10.6% $4,175
44 San Antonio, TX 10.8% $4,045
45 Birmingham, AL 10.8% $3,751
46 Austin, TX 10.9% $4,298
47 Albuquerque-Santa Fe, NM 11.2% $4,095
48 Sacramento-Stockton-Modesto, CA 11.3% $4,213
49 Atlanta, GA 11.6% $4,447
50 San Francisco-Oakland-San Jose, CA 12.0% $4,992
Overall Average 9.9% $3,753
Detroit had the smallest new car price markup at 6.5 percent, while the San Francisco metro area had the greatest price markup at 12.0 percent.

“New car buyers will probably have trouble finding available inventory and can expect to pay higher-than-average prices for vehicles that are in high demand,” said Brauer. “New car shortages are expected to persist due to the backlog of demand, and the Russia-Ukraine conflict has led to factory shutdown and pricing increases on raw materials. The best way to avoid paying over sticker is to broaden your search radius and to consider similar vehicles that may not have the same degree of price hike.”

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iSeeCars analyzed over 1.2 million new cars listed for sale between February 1 and March 25, 2022, and compared their list price to their MSRP. The average difference was expressed as a percentage from MSRP and used to rank models. Low-volume models and heavy-duty vehicles were excluded from further analysis.

About iSeeCars: is a car search engine that helps shoppers find the best car deals by providing key insights and valuable resources, like the iSeeCars free VIN check reports and Best Cars rankings. has saved users over $330 million so far by applying big data analytics powered by over 25 billion (and growing) data points and using proprietary algorithms to objectively analyze, score and rank millions of new cars and used cars.