The team at ISeeCars.com gathering selling prices on over 16 million vehicles to find out which have the highest markups over list (MSRP) from January 2023 to January 2024. While it may come as a shock to many Dodge buyers, neither the Charger nor the Challenger were in the list of the Top 20 most heavily marked up vehicles for 2023.
The study looks at the average MSRP for each model and brand along with the average actual selling price of each model and brand, comparing the two and ranking both the individual models and the brands by how much higher or lower the selling price is compared to MSRP. Only 15 vehicles sold in the US during the study had an average price below MSRP – every other vehicle sold in the US had an average price above MSRP, meaning that all but 15 vehicles sold in the US were commonly sold with additional dealer markup.
Dodge as a whole ranked #22 among all brands in the U.S., with an average 4.8% markup rate coming in well under the industry average of 7.2%.
The period of time covered in this ISeeCars study focuses specifically on the sales period known as the Last Call for the Dodge Challenger and Charger. Many dealerships were adding additional markups on top of MSRP, especially Hellcat models, with the most severe markups coming from the SRT Demon 170. In some places, standard Hellcat and Redeye models were labeled with markups of $5,000 or more while very limited models including the King Daytona, the Black Ghost and the 1,025-horsepower Demon 170 saw markups over $100,000. However, those big numbers on limited edition models didn’t have a big enough impact on either model to make them among the most heavily marked up vehicles in 2023.
Challenger and Charger Selling Prices, MSRP and Markup Percentage
The ISeeCars study only lists the top 20 vehicles with the highest markups and the biggest discounts, neither of which includes the Dodge Challenger or Charger. We reached out to ISeeCars and they were kind enough to provide us with the numbers for the Challenger and Charger. Many people in the Mopar community argue that this problem is specific to Dodge or Stellantis, but the report from ISeeCars shows that the Dodge Challenger and Charger weren’t among the 20 most heavily marked up vehicles in 2023. In fact, the Charger was actually one of the individual vehicles with the biggest discount off of MSRP in one metropolitan market.
During the Last Call sales promotion, the Dodge Challenger had an average selling price of $40,270 and an average MSRP of $37,401 – accounting for an average markup of 7.7%. That number is slightly above the industry average markup for 2023, but it is well below any of the vehicles on the list of the 20 most marked up.
As for the Dodge Charger, the muscular sedan had an average selling price of $38,384 during the Last Call run while the average MSRP was $37,864 – a markup of just 1.4%.
When we move to the regional pricing categories, both the Charger and Durango appeared on the discount side of the list.
In the West Palm Beach-Ft. Pierce area of Florida, the Dodge Charger had an average selling price of $34,159 – 9.5% less than the average MSRP of $37,761. As for the Durango, it was the most heavily discounted model in Cincinnati (-6.3%), Ohio, Greensboro-Winston Salem (-11.7%), North Carolina, Jacksonville (-6.7%), Florida and Kansas City (-5.1%), Missouri.
In short, not only is this problem not specific to Dodge, but the Charger was among the vehicles with an average selling price closest to MSRP and the Challenger was only slightly above the industry average in terms of markup percentage. Realistically, if not for the SRT Demon 170 – that 7.7% would have likely been a bit lower.
Most Marked Up Vehicles of 2023
None of the Dodge products were among the most heavily marked up vehicles in 2023, but for reference, here is the Top 20 list. There are no Stellantis models on this list and of the 20, only 3 are American models.
Rank -Vehicle -Average % Over MSRP
1 -MINI Hardtop -25.5%
2 -Porsche Taycan (sedan) -23.1%
3 -Porsche Cayenne -21.9%
4 -Porsche Macan -21.3%
5 -Porsche Taycan (wagon) -20.9%
6 -Cadillac CT5-V -20.0%
7 -Porsche 718 Boxster -19.9%
8 -Toyota Corolla Cross Hybrid -19.4%
9 -BMW X3 M -19.4%
10 -Cadillac CT4-V -19.3%
11 -Porsche 718 Cayman -18.9%
12 -Genesis GV70 -18.8%
13 -MINI Countryman -18.7%
14 -MINI Clubman -18.7%
15 -Lexus LS 500 -18.6%
16 -Mercedes-Benz GLE -18.6%
17 -Ford Maverick -18.2%
18 -MINI Hardtop 2 Door (electric) -17.8%
19 -Genesis GV80 -17.4%
20 -Audi RS 6 Avant -17.4%
Overall Average -7.2%
Most Discounted Vehicles of 2023
ISeeCars also makes a list of the vehicles with average selling prices at the opposite end of the spectrum, starting with those models which have an average selling price below MSRP and those which have the lowest markups. There are 20 vehicles on this list as well, but only 15 of them are actually under MSRP, so those are the only models which we have included, as these are the only 15 vehicles sold in the US last year that averaged a discount off of MSRP – every other model averaged a marked-up price over MSRP. Again, the percentages below are the percent below MSRP, or the percent discounted. This list also doesn’t have any Dodge products, but it does have a few Stellantis products.
Rank -Vehicle -Average % Below MSRP
1 -Hyundai Kona Electric -4.6%
2 -Volkswagen ID.4 -3.6%
3 -Ford F-150 (hybrid) -3.3%
4 -Kia EV6 -2.5%
5 -Hyundai Ioniq 6 -2.4%
6 -Nissan Maxima -2.2%
7 -Chrysler Pacifica Plug-In Hybrid -2.0%
8 -Nissan Ariya -1.9%
9 -Hyundai Ioniq 5 -1.9%
10 -Volkswagen Arteon -1.8%
11 -Buick Envision -1.2%
12 -Infiniti QX80 -1.0%
13 -Ram 1500 Classic -0.6%
14 -Jeep Renegade -0.5%
15 -Nissan Armada -0.3%
The IseeCars study has more information on the top 20 vehicles on each end of the pricing spectrum, including more detail on average selling prices and MSRP, and you can read their whole study by clicking here.
