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

The newest iSeeCars study of 1.9 million new car listings found the average new vehicle is priced 10.0 percent above MSRP, but some vehicles are priced well above this average. Here are the new cars that are priced the highest above MSRP in each state.

The New Car Priced the Highest Over MSRP in Each State- iSeeCars
StateVehicle% Above MSRP$ Above MSRP
AlabamaFord Bronco29.4%$11,518
AlaskaPorsche Macan23.7%$14,835
ArizonaPorsche Cayenne30.9%$25,412
ArkansasGenesis GV7027.8%$12,135
CaliforniaFord Bronco26.5%$10,966
ColoradoJeep Wrangler27.1%$9,975
ConnecticutJeep Wrangler26.9%$9,225
DelawarePorsche Cayenne26.6%$21,420
FloridaLexus RX 450h23.1%$11,535
GeorgiaFord Bronco31.5%$12,778
HawaiiGenesis GV7032.7%$14,411
IdahoDodge Challenger24.5%$9,038
IllinoisLexus RX 450h29.6%$14,623
IndianaLexus RX 450h30.7%$15,061
IowaLexus RX 450h35.0%$17,040
KansasLexus RX 450h32.1%$15,760
KentuckyLexus RX 450h31.4%$15,429
LouisianaPorsche Cayenne27.4%$21,582
MaineJeep Wrangler27.2%$9,302
MarylandFord Maverick30.7%$7,964
MassachusettsJeep Wrangler27.0%$9,269
MichiganLexus RX 450h27.3%$13,511
MinnesotaLexus RX 450h30.2%$14,831
MississippiJeep Wrangler Unlimited28.7%$12,186
MissouriLexus RX 450h31.0%$15,210
MontanaFord Bronco25.7%$10,060
NebraskaLexus RX 450h26.6%$13,184
NevadaGenesis GV7031.3%$13,895
New HampshirePorsche Macan24.8%$14,918
New JerseyJeep Wrangler24.9%$8,982
New MexicoJeep Wrangler26.6%$8,934
New YorkJeep Wrangler25.2%$8,816
North CarolinaJeep Wrangler25.0%$8,503
North DakotaJeep Wrangler28.2%$9,635
OhioLexus RX 450h29.4%$14,493
OklahomaJeep Wrangler24.5%$8,296
OregonGenesis GV7025.5%$11,714
PennsylvaniaPorsche Macan25.2%$15,489
Rhode IslandFord Maverick29.9%$6,811
South CarolinaPorsche Cayenne32.5%$25,528
South DakotaLincoln Aviator21.8%$12,814
TennesseeGenesis GV7030.8%$13,840
TexasJeep Wrangler24.4%$8,462
UtahPorsche Macan29.4%$17,709
VermontMINI Hardtop 2 Door30.1%$8,110
VirginiaFord Bronco28.8%$11,478
WashingtonFord Bronco26.5%$10,561
West VirginiaJeep Wrangler24.1%$8,293
WisconsinLexus RX 450h31.2%$15,278
WyomingJeep Gladiator22.1%$10,314
  • The Jeep Wrangler compact off-road SUV and the Lexus RX 350h luxury midsize hybrid SUV tie as the vehicles with the highest markup over MSRP in most states with 12. 
  • The vehicle with the highest markup across all states is the Lexus RX 350h, which is priced 35.0 percent above MSRP in Iowa.
  • Luxury SUVs are the most represented vehicle type, accounting for the highest marked-up vehicles in 26 states.

What Does This Mean for Consumers?

New car buyers will likely have trouble finding available inventory and can expect to pay higher-than-average prices for vehicles that are in high demand. New car shortages are expected to persist due to the backlog of demand, and the Russia-Ukraine conflict has led to factory shutdowns and pricing increases on raw materials. Moreover, the lack of inventory for new cars has led to used car price increases as well. The best way to avoid paying over sticker price or to find used cars that aren’t drastically overpriced 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 analyzed over 1.9 million new cars sold between July 1 and September 7, 2022, and compared their list price to their MSRP. The average difference was expressed as a percentage from MSRP and used to rank the vehicle models. Low-volume models and heavy-duty vehicles were excluded from further analysis.

About iSeeCars.com

iSeeCars.com 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. iSeeCars.com has saved users over $350 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.

This article, The Cars With the Highest Dealer Markups by State, originally appeared on iSeeCars.com.