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Genesis GV70 is on sale for 28% off MSRP


Genesis GV70

Photo: so bright

If you are looking for a luxury crossover, Genesis GV70 is an attractive choice. It is ridiculously beautiful, possible with the 375 hp V6, has a gorgeous cabin and comes with a 10-year powertrain warranty. With a base price of less than $45,000, it’s a bargain compared to the BMW X3 and Mercedes-Benz GLC. Or at least it would if it actually sold for MSRP. Which it very much is not.

CNBC report that last month, the Genesis GV70 had the highest percentage increase in price of any vehicle sold, at 28% over MSRP. Suddenly, the GV70 doesn’t look like a bargain anymore. Nor is it the only vehicle that is still being sold at ridiculous prices. 31% of vehicles sold in the last month were priced higher than the MSRP, with at least 10 vehicles getting 20% ​​or more price increases.

After the GV70, the Jeep Wrangler had the second highest average gain, followed by the Mercedes-Benz GLB, Porsche Taycan, Jeep Wrangler Unlimited, Cadillac CT4-V, Genesis GV80, Porsche Macan, Cadillac CT5 and Lexus RX350h. If you’re considering buying one of these, you might want to hold off until the price drops, or buy a more reasonably priced competitor.

However, there are a few not-quite-terrible deals out there. The Chevrolet Silverado can be said to be priced slightly below the MSRP, and the Volkswagen Arteon, Cadillac Lyriq and Infiniti QX80 were essentially all sold at list prices last month. We are also seeing new car prices fall from July prices when 48% of cars cost more than MSRP. So things are improving, just not fast enough.

“Manufacturers keep raising prices and then dealers raise prices,” said Karl Brauer, executive analyst at iSeeCars. CNBC. “The difference between dealer price and MSRP will continue to decrease as supply chains improve, although a return to MSRP for most models is unlikely to happen this year.”

If you absolutely must buy a new car soon, your best bet is probably to expand your search beyond your local dealers and see if you can find a decent deal. But if possible, you should still wait for the price to continue falling.

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