Consumers in the market for a new automobile may want to take note of a recent study conducted by Consumer Reports that found that certain vehicles have price markups of 20 percent or more. The research revealed that while vehicle prices generally remain consistent across brands and models, certain models command significantly higher prices than their comparable competitors. Here are the 10 vehicles that have the greatest markups:
1. Chevrolet Tahoe: 32.3 percent markup
2. GMC Yukon: 29.1 percent markup
3. Cadillac Escalade: 28.8 percent markup
4. Jeep Grand Cherokee: 24.2 percent markup
5. Ford F-150: 23.2 percent markup
6. Toyota Tacoma: 21.9 percent markup
7. Chevrolet Silverado: 20.8 percent markup
8. Nissan Frontier: 20.6 percent markup
9. Ford Explorer: 20.5 percent markup
10. Honda Ridgeline: 20.4 percent markup
A recent analysis conducted by Consumer Reports has revealed that certain vehicles are being sold at markups of 20 percent or more above their comparable competitors. The 10 vehicles with the highest markups include the Chevrolet Tahoe, with a 32.3 percent markup, the GMC Yukon with a 29.1 percent markup, and the Cadillac Escalade with a 28.8 percent markup. Additionally, the Jeep Grand Cherokee and the Ford F-150 both boast markups of 24.2 and 23.2 percent, respectively.
Toyota Tacoma, Chevrolet Silverado, Nissan Frontier, Ford Explorer, and Honda Ridgeline round out the list, with markups of 21.9, 20.8, 20.6, 20.5, and 20.4 percent, respectively. The study found that these vehicles command significantly higher prices than their comparable competitors.
Consumers should be aware of these markups when shopping for a new vehicle, as these 10 models may be priced higher than their competitors.