Car shopping has been a frustrating activity for many people in recent years, as strained new car inventories have led to markups and elevated prices across the board. It’s been difficult to find vehicles at anywhere near a reasonable price, and some in-demand models are still listed at a premium today. iSeeCars’ most recent study looked at several aspects of the new and used vehicle markets and found a handful of models that are selling at a discount – a rarity in today’s world.
Most of the vehicles selling below MSRP in October were electric, though the Nissan Armada and Infiniti QX80 made the top eight. To be clear, we’re not talking about huge discounts here – the Kia EV6 was selling with the largest discount of 3.1%. The other models on the list include:
Kia EV6: -3.1 percent off MSRP
Ford F-150 hybrid: -2.8%
Hyundai Ioniq 6: -2.7%
Nissan Armada: -1.8%
Hyundai Ioniq 5: -0.9%
VW ID.4: -0.6%
Kia Niro EV: -0.3%
Infiniti QX80: -0.2%
Electric and hybrid vehicles like the Kia and Ford have been selling at a premium for a long time, as they experienced stronger than expected demand and had challenging early production runs. That they’re now selling at a discount could indicate wavering buyer demand, but it’s too early to start sounding any serious alarm bells.
Though some models are getting cheaper, the industry average is still heading in the wrong direction. The average MSRP of new cars sold last month was $42,510, while the average sales price was $46,077. That 8.4% overage is surprising to see so many months after the worst of the pandemic has passed. iSeeCars’ executive analyst Karl Brauer had a few words of encouragement, however, saying, “There are still very few ‘deals’ in the new car market. Shoppers looking to pay below MSRP for a new car will have to do their research, but a small number of models can be bought below sticker price.”
