31% of new cars sold for above sticker in Feb 2023

According to a study of 12 million new car sales from February 2022 through February 2023 by iseecars:

The average new-car price in February was $45,296, compared with the average MSRP of $41,637

On average, new autos are priced 8.8% above MSRP down from a peak of 10.2% in mid-2022

Top 5 premiums paid:

  1. Genesis GV70 (+27.5%)
  2. Jeep Wrangler (+23.9%)
  3. Mercedes GLB (+22.9%)
  4. Porsche Taycan (+22.7%)
  5. Jeep Wrangler Unlimited (+21.9%)

Top 5 closest to MSRP:

  1. Chevy Silverado 1500 (-2%)
  2. VW Arteron (-0.4%)
  3. Cadillac. Lyriq (-0.4%)
  4. Infiniti QX80 (0.0%)
  5. GMC Sierra 1500 (+0.9%)

Article states:
Consumers looking to avoid price hikes will want to steer clear of these highest above MSRP models.
2 Jeeps in the top 5 and no mention of doing an order for well below MSRP. Those are up to 30% swings from what the average person vs LHer pays. :sunglasses:

There are additional cars on the list, you can find the source here:

CNBC ran an article on it as well and their tip was to leverage patience and to consider more than one vehicle :joy:
https://www.cnbc.com/2023/03/10/new-cars-selling-for-the-biggest-premiums-above-sticker-price.htmls

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Wait what? People are paying a premium for GLBs? Uffh.

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Do these people not have access to the internet? It’s genuinely terrifying that people make significant decisions with no research.

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domestic violence caveman GIF

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Y’all have no idea just how good our deals are in comparison. If only I could show you bits and pieces of the desk logs I see regularly for retail (walk in) customers.

I’ll throw in a hypothetical full pop for a 5 series though, with no rebates.

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Are wrangler 4XE’s a component in those figures?

See the GIF above for the retail walk in customers, lol.

In seriousness, this web board depends on there being (unfortunately) a huge number of uninformed customers.

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Considering they make up 30-40% of wrangler sales, I’d say yes

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I do think quite a number of shoppers first look at the general type of car they want, then they may pick one that they emotionally want (which is understandable), then they just compare sticker price and stop there when zeroing in on the car they are going to pursue. It’s obvious to all of us that sticker price only marginally influences the TCO, but there have been so many smoke and mirrors for so long in the automotive industry that the average customer really has no idea re: the financial part of it :frowning:

I’ve lost count of the number of times that a coworker, etc. has sneered at me in a funny (but somewhat snide) manner about how I’m driving such a fancy car. This of course happened when I pulled up in a $250 a month BMW parked next to their $1000 a month Ford Expedition, lol

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At this point, there are many who will actively avoid sound financial reasoning because it may conflict with their emotional attachment.

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Heck yes…You have diagnosed me doctor! This perfectly explains why I have been shopping my 4xe around to see if it’s possible to get into an EQS :slight_smile:

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My thoughts exactly! I had one as a loaner last week―yes, my EQS is broken already―and absolutely dreaded the experience. Funnily enough, I really wanted a GLB when it came out, because I saw it as the spiritual successor to my beloved ML. Regardless, I cannot imagine getting one without a significant discount, let alone for over MSRP.

PJ

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Crapped out already - wow - shit -

I feel bad for walk-ins - NYC dealers tend to use high pressure tactics - makes me wanna upper cut them - especially MB of Brooklyn- Manhattan really doesn’t care - they move weight

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Sadly, we see this regularly here from those who ask but don’t take LH advice

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I’m part of a couple 4xe groups on FB and you would be surprised how many people are paying msrp or beyond even in the last few months on these. I like mine but there’s no way I’d do that.

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Remember, if you recommend a minivan, you’re a chauvinist.

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I just lost a deal on a Manhattan green X5 with almost 60 days on the lot to someone who walked in and paid full price last night. People definitely don’t check where the market is at a given time.

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Oh No Coach Mellor GIF by ABC Network

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also has to to do with payment shopping – pretty monthly number

Dealers are making cash – some guy just opened up land rover Brooklyn – spent $60MM building a Stealership in Coney Island lol

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Are they partnered up with someone? They have a lot of cars on the website