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Key Takeaways

  • Luxury cars top the list of vehicles commonly listed above MSRP, suggesting strong demand and distinct sales tactics at luxury dealerships.
  • Electric cars significantly underperform, possibly due to a weakening market and insufficient charging infrastructure.
  • Top luxury car models command a roughly 19-25% markup over MSRP, while electric cars feature the most favorable list price-MSRP ratios.

Car prices, like most other commodities, have seen a jump in recent times due to many factors. Supply chain shortages, long-lasting effects of the pandemic, and geopolitical events can all influence the sticker stuck to the window of a shiny new automobile. Further, MSRP (manufacturer’s suggested retail price) is a guide, one that dealers can advertise and sell under, at, or over.

What if there was a trend that could be observed? Also, what if there were specific types or makes of cars that were routinely getting listed over their sticker price, or under? Luckily, data aggregate and analysis website iSeeCars already has an extensive breakdown for 2023-2024, and the takeaways could surprise you. Some may not – luxury cars and performance cars have a higher probability of getting listed over their MSRP. There’s more to the story so we take a brief look below at what the data has to say, and what cars could be selling routinely for under their recommended prices.

iSeeCars Methodology:
“iSeeCars analyzed over 16 million new car sales from January 2023 to January 2024. 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, fuel type, 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.”

Find Out What Happened To Mustang Sales

2024 Ford Mustang Sales Drop Significantly In October 2023

The 2024 Ford Mustang was off to a hot start in September, but sales suddenly sizzled down over the past month.

Car Prices Are Still High, But There’s Some Good News

Trio Ford Mustang models 2024, front profile view of all
Via: Ford

In the original post, iSeeCars looked at around 16 million new car sales from the period of January 2023 to January 2024. They looked at the average list prices of new cars and the average of their MSRPs, then analysed the data taking into account different factors such as month, body style, fuel type, and model. The differences between average prices and average MSRP were expressed as percentage differences. Of course, the cars could be selling for more or less than their list price, thanks to negotiation and special offers.

However, there are some key takeaways early on. Firstly, iSeeCars’ analysis indicates that new cars get listed on average at 7.2% above their MSRP. The good news is that this is already almost 2% less than 12 months ago. Another key takeaway early on is that the categories that list highest relative to their MSRP are from luxury brands, while electric cars’ average MSRP-list price ratios are at the bottom end. Your shiny new 2024 Mini Hardtop will likely carry a price tag that gets inflated over its MSRP, while a Ford F-150 hybrid is likely to be selling for under its MSRP according to the same data.

Key Takeaways On The Current MSRP-List Price Climate

  • Luxury cars at the top of the list price/MSRP gap could suggest a strong market for this category and a distinct attitude and sales operation at luxury dealerships
  • Electric cars occupy the lowest section of cars that list under their MSRP – this could indicate a slowing market and low demand
  • Various factors could influence the weakening demand for electric cars such as a lackluster charging network

Sales Are Down For Popular Tesla Models

Why No One Bought The Tesla Model X And Model S In 2022

Tesla’s Model X and Model S saw a lack of popularity in 2022 due to a slowdown in demand and production challenges.

Performance And Luxury Cars Command A Premium

Below we can see a small breakdown of the top ten models that featured the highest increase in list price relative to their MSRPs from 2023-2024. All of the models aside from the Toyota Corolla Cross Hybrid hail from luxury brands.

MINI sits at the top, a premium subbrand of BMW. Porsche features heavily, which could suggest a strong ethos at dealers for applying markups and its customers’ willingness to pay more. We could expect the reverse to be true for economy brands. For reference, the Mini Hardtop in iSeeCars’ data featured a jump from its average MSRP of $30,000 to an average list price of $37,000.

Average List Price And MSRP Difference (Top 10 Highest)

Car Model

List Price Increase Relative To MSRP (’23-’24)

MINI Hardtop


Porsche Taycan sedan


Porsche Cayenne


Porshe Macan


Porsche Taycan wagon


Cadillac CT5-V


Porsche 718 Boxster


Toyota Corolla Cross Hybrid




Cadillac CT4-V


Data courtesy of iSeeCars

Takeaways From The Data Above For Luxury Cars

  • Porsche dominates the top ten luxury car models whose list prices sit furthest above MSRP from ”23-’24
  • The top ten models have a roughy-19-25% dealer markup over their MSRPs


The Kia Stinger Is A Sales Failure: Here’s Why

The Kia Stinger GT and GT2 are great sports sedans, but sales figures are dramatically falling, with the competition fierce from rivals like BMW.

Electric Cars Are Experiencing A Dip In Demand

Nissan Leaf - Charging shot, front quarter view
Via: Nissan

The table below features the top ten car models whose list average prices sat furthest below their average MSRPs on average from 2023 – 2024. None of the models are true luxury models and the top five feature four electric cars and one hybrid. In all, there are 5 electric cars and two hybrids. iSeeCar’s data could be revealing a weakened demand for EVs.

Of course, there are many factors and this data is open to interpretation, but two key areas could be at play here: a waning interest, and a weak charging infrastructure. The Hyundai Kona Electric has the most favorable (for customers) price-MSRP ratio, since on average customers saw sticker prices $1,753 below MSRP.

Average List Price And MSRP Difference (Top 10 Highest)

Car Model

List Price Difference Relative To MSRP (’23-’24)

Hyundai Kona Electric


Volkswagen ID.4


Ford F-150 Hybrid


Kia EV6


Hyundai Ioniq 6


Nissan Maxima


Chrysler Pacifica Plug-In Hybrid


Nissan Ariya


Hyundai Ioniq 5


Volkswagen Arteon


Data courtesy of iSeeCars

Takeaways From The Section Above

  • In contrast to the cars that have an average list price over MSRP, the cars with the most favorable list price-MSRP ratio are mostly electric and economy cars
  • The Hyundai Kona Electric had the lowest average list price relative to its MSRP of -4.6% – which equates to nearly $2,000
  • Various factors are at play but a waning interest in electric cars could be responsible

Why Electric Cars Are Less Expensive While Luxury Cars Sell With Markups

We can draw any conclusion we like on why some cars sell for more or less than their MSRPs, but iSeeCars’ data and analysis paint an interesting picture. Perhaps it is unsurprising to many, but it raises questions and highlights different dealer practices for specific categories, as much as issues with infrastructure.

There is already commentary on the electric car charging network and its many issues. The EV industry grew quickly over the last decade and a half, perhaps outpacing the evolution of the charging network to a point where there are hotspots that struggle to cope with the charging demand.

Is interest in EVs waning? That’s another deep dive into data that iSeeCars could make, but it could be responsible for the list price-MSRP gap we see above. A declining interest could be due to critics’ views on the impact on the environment (and poor nations) that electric cars make. The lack of charging infrastructure and its quality is arguably a major issue in the coming years for EVs. At least list prices reflect this, since more people buying EVs may slowly help improve the network.

Source: iSeeCars

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