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8 Car Brands With The Highest New Car Markups And Where Subaru Ranks Now

Does Subaru mark up their new 2024 Crosstrek, Outback, Forester, and other models over the MSRP? Check out the brands with the highest new vehicle markups and where Subaru ranks now.

Is Subaru gouging its customers and selling new models higher than the sticker price? Subaru of America has the tightest new model inventory of new Crosstrek, Forester, Outback, and other new models, and they could choose to mark up their vehicles above the sticker price. The new vehicle supply is low, and demand is high for top-selling models like the Crosstrek subcompact SUV and Outback Wilderness trim levels.

A new report from Edmunds reveals the eight car brands with the highest average transaction prices (ATP) higher than the manufacturer's suggested retail price (MSRP) in April 2023. With inventory improving and the economy slowing, the number has dropped from last year, but there are still car brands with an ATP higher than the MSRP.

2023 Subaru vehicle sales price
photo credit: Tucson Subaru

Where does Subaru rank among all car brands in the U.S.?

The list reveals that Subaru is not selling its new models above the sticker price, but the Camden, N.J. automaker sells its new vehicles at an average of $463 less than the sticker price or MSRP. As a result, despite high demand and low inventory, Subaru retailers in the U.S. are holding new Crosstrek, Outback, Forester, and other new model prices below the advertised sticker price.

Another report from Automotive News (by subscription) says Subaru is among the top ten car brands with the most efficient inventory distribution. Cloud Theory's "inventory efficiency index" assigns scores to car brands based on current active inventory and sales data compared to competitors.

2023 Subaru vehicle sales price
photo credit: Long Subaru

The report reveals Subaru of America is managing its tight supplies more effectively than most automakers in the U.S., and it helps buyers with expectations of their new Subaru purchase.

The worst new vehicle markup offenders

The Edmunds report says that Land Rover is the worst car brand, with an average ATP of $3,517 more than the MSRP. Kia is next (+$873), followed by Honda (+$647), Toyota (+$479), Cadillac (+$353), Dodge (+$211), Hyundai (+$164), and Genesis (+$139).

Subaru of America does not condone charging its customers over MSRP, but it also can't keep its U.S. dealers from doing it. Former Subaru of America President and CEO Tom Doll asked its dealers last year to live by the Subaru Love Promise and treat customers fairly because of the new model shortages.

Doll said Subaru takes pride in NOT doing what a typical car dealer would do and giving new cars huge markups. However, he says it goes against the H.E.A.R.T. (honest, empathy, appreciation, respect, trust) pillars which are the foundation of the Subaru brand.

Does Subaru mark up their new 2024 Crosstrek, Outback, Forester, and other models over the MSRP? Edmunds says Subaru's average transaction price is now $463 less than the sticker price or MSRP.

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Denis Flierl has invested over 30 years in the automotive industry in a consulting role working with every major car brand. He is an accredited member of the Rocky Mountain Automotive Press. Check out Subaru Report, where he covers all of the Japanese automaker's models. More stories can be found on the Torque News Subaru page. Follow Denis on Facebook, Twitter, and Instagram.

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Photo credit: main image Tucson Subaru


NMK (not verified)    May 18, 2023 - 11:14AM

Sont pay a markup PERIOD..!!
Nothing is worth more than the manufacturer says it should sell for. If you pay over MSRP that is your own fault. Since covid I have bought a new mustang convertible for my wife, a 22 BRZ and a 24 impreza RS on its way. I paid at or UNDER MSRP for all of them. It took some work, but I saved thousands off of the starting negotiations.

Howard Kerr (not verified)    May 22, 2023 - 5:30PM

This article is not completely correct in that it says DODGE has a high markup. The brand they mean to name is RAM as in Ram trucks.

Sue (not verified)    May 24, 2023 - 8:24AM

I would never but subaru again. First the battery keeps draing over nite and they can't find out what's causing it
Somebody that goes through 4 batteries a year and they don't have a solution ridiculous