Markups are a frequent bane of drivers and manufacturers, but they don't appear to be going away anytime soon. New data from iSeeCars shows that the average new vehicle sells for 10 percent over MSRP, with hotter-selling vehicles such as the Jeep Wrangler selling for an average of 24.4 percent more than sticker price. I'm sure this is starting to sound familiar by now.
The full highest-markup list is almost predictable as it's populated with historically popular vehicles from manufacturers that have been impacted heavily by supply-chain issues. After the Wrangler comes the Porsche Macan at a 23 percent markup, meaning buyers paid an average of $14,000 over sticker for one. That raw number was beaten only by the Chevy Corvette at $14,671 over MSRP, although the Chevy markup is a lower percentage at a mere 19.1 percent over suggested retail.
Genesis, Lexus, Ford, Porsche, and Jeep all appear multiple times in the top 15, with Jeep showing up with three separate vehicles: the Wrangler, Wrangler Unlimited, and Gladiator, which also appeared on the list in March of this year. At the very least, the Gladiator has slid down the order after initial absurd price hikes of more than $20,000 were spotted soon after its release in 2019. However, the presence of Ford's Maverick and Bronco and Genesis' GV70 and GV80 all in the top 15 suggests that manufacturers have had a harder time cracking down on dealers than they hoped. Both manufacturers have taken a very strong anti-markup stance, but it doesn't look like that's done much good.
The problem isn't likely to go away in the next few months or maybe even years. The demand for new cars is still high and vehicle shortages are still common, with supply chain woes continuing to keep automakers' outputs lower than expected. iSeeCars says it doesn't expect to see supply strengthen significantly until 2023 at the earliest, so unless the FTC steps in and punishes dealers for markups as it has threatened to, it's likely the high markups are here to stay.