Top 10 Cars With the Highest Markups for November 2022

• Markups are not as common as they were just a few months ago.
• However, there are still some highly sought-after vehicles that dealers are charging a premium for.
• Here are the top 10 vehicles with the highest markups as of November 2022.

About 10 months ago, we published our list of the top 10 vehicles with the highest markups. Back then, markups were common across the new car market, but a recent Edmunds-penned analysis recognizes that the average vehicle transaction price has finally fallen below the average manufacturer suggested retail price. Translation? Overall, discounts are back, baby.

Not every vehicle is enjoying a discount, however; there are still many highly sought-after cars that require extra cash on top of the MSRP to seal the deal. Here are the top 10 vehicles with the highest markups as of November 2022.

10) Land Rover Defender

The Land Rover Defender combines strong off-road performance with a luxurious interior and comfortable ride. It's also one of the only SUVs on the market available in two-door (Defender 90) and four-door (Defender 110) variants, and it offers a broad range of trims and powertrains. In short, there's something here for everyone, provided you're willing to pay a premium. Defender buyers will likely shell out $2,722 on top of the MSRP to lock one in. We think this figure will rise over the next year with the release of the highly anticipated three-row Defender 130.

Average MSRP: $83,947

Average transaction price: $86,669

9) Toyota Sequoia

The Toyota Sequoia was long overdue for a full redesign, and it's finally brand-new for 2023. The third generation of the truck-based SUV has been slow to trickle into dealerships (Toyota only sold nine new Sequoias during September), but now that dealers finally have them in hand, they're going for quite a bit over sticker. On average, buyers are paying $2,985 above MSRP to purchase a new Sequoia.

Average MSRP: $73,936

Average transaction price: $76,921

8) Kia EV6

Kia has been on a roll over the last few years, and Kia dealerships have started to reap the rewards. A number of Kia vehicles (including the Telluride, Sportage, Carnival and even the aging Stinger) routinely sell for above the manufacturer's retail price, but the new EV6 electric vehicle is the only one to crack the top 10. We're huge fans of the EV6, and it seems shoppers are equally enthused. New buyers typically pay $3,161 above MSRP to secure Kia's newest electric vehicle.

Average MSRP: $54,017

Average transaction price: $57,178

7) Lexus LX 600

Buyers of large luxury SUVs are more than willing to pay above-average prices for the hottest new vehicles, and dealers know it. The new-for-2022 Lexus LX 600 is one of four big SUVs that commands a significant premium. The LX 600 actually replaces two vehicles — the Toyota Land Cruiser and Lexus LX 570 — meaning that it effectively has double the potential audience of its direct predecessor. The average transaction price for a new LX 600 stands at $3,506 above sticker.

Average MSRP: $110,935

Average transaction price: $114,441

6) Cadillac Escalade

Remember what we said about shoppers willing to pay a pretty penny for big luxury SUVs? This Escalade generation has been around for a couple of years, but it still feels fresh thanks to its high-tech interior design. Buyers are similarly impressed, paying, on average, a $5,130 markup for the 'Slade.

Average MSRP: $107,032

Average transaction price: $112,162

5) Cadillac Escalade ESV

The Cadillac Escalade ESV is essentially the same as the standard Escalade but with more than a foot of extra wheelbase. That means more space in the cargo area and more room for third-row passengers. The ESV naturally carries a higher price tag compared to a similarly equipped Escalade, and buyers are willing to pay a higher markup, to the tune of $6,255.

Average MSRP: $109,949

Average transaction price: $116,204

4) Ford Shelby GT500

We totally get the appeal of the Ford Shelby GT500, to the point that we even spent more than $80,000 of our money to add one to our long-term fleet when it was first released. And we've loved our absolutely crazy Mustang ever since. That purchase may have turned out to be a good investment, as buyers pay $6,700 above sticker for their own chance behind the wheel of this 760-horsepower beast.

Average MSRP: $98,492

Average transaction price: $105,192

3) Porsche 911

The legendary Porsche options list is daunting enough, but some models require a little extra greasing of the wheels. Don't expect to see straight markups on standard models like the Carrera or Carrera S, but prepare for sticker shock if you want a specialized variant like the GT3, Sport Classic or Dakar. Markups on these pull the 911's overall above-MSRP premium to $7,540.

Average MSRP: $184,117

Average transaction price: $191,657

2) Land Rover Range Rover

The Land Rover Range Rover appeared at No. 9 on our February list, so it's not surprising to see it pop up here, too. Thing is, the $3,526 markup noted in the previous article was naturally based on the Range Rover on sale at the time, and that generation dated back to 2013. A new Range Rover was introduced midway through the year, and prices (and markups) have positively skyrocketed. It also doesn't help that the new Range Rover is a major upgrade from the ancient previous model. If you want a new Range Rover, expect to pay about $8,454 above MSRP.

Average MSRP: $132,066

Average transaction price: $140,520

1) Mercedes-Benz G-Class

Could it have been anything else? We've already written about some of the belief-suspending stipulations that some Mercedes-Benz dealerships have placed on G-Class orders; others simply ask for a steep markup. If you absolutely must have this hot rod off-roader, expect to shell out the big bucks. Shoppers in the market for the G-Class — also called the G-wagen — will pay an extra $14,982 on top of an eye-watering MSRP.

Average MSRP: $192,812

Average transaction price: $207,794

Edmunds says

If you want to get behind the wheel of these hot new cars, expect to slip the dealer a little extra.