Get access to the same vehicle valuation tool that dealers rely on. With Black Book, you’ll have insider data to accurately assess trade-in and purchase values—empowering you to negotiate the best possible deal.
Hyundai prices have risen 46% since 2018, amounting to price tags that are $11,591 higher on average. Both Hyundai and sister brand Kia have raised prices more than most car brands in America (Jeep being an exception). Hyundai’s recent price hikes exceed historical norms for car price inflation by a long shot. Overall, new car prices in America have risen 28% over the same period.
In 2024, the average selling price of a new Hyundai is $35,445, more than $10,000 higher than where average prices stood one decade ago. Could Hyundai’s price hikes be to blame for the brand’s plateau in US market share?
Similar to Toyota and Kia, could Hyundai’s pricing be too high, putting the brand in competition with premium car brands? Which Hyundai prices have risen the most? We’ll answer these questions and more. Plus, we’ll take a closer look at Hyundai’s five best-selling models.
Hyundai’s Sales Climb 20% As Prices Rise Dramatically
Is it the power of the product, or simply more car buyers accepting the reality that car prices just aren’t what they used to be?
Hyundai’s US sales have been climbing for most of the past five years. The pandemic did hit Asian automakers particularly hard, leading to a serious slump in production. However, production is back up and running, and Hyundai sales are rebounding, with a large jump in 2023.
Hyundai reported US sales climbing from 667,634 in 2018 to 801,195 cars sold in 2023. Hyundai has been gaining market share for most of the past decade. Here’s a look at sales trends in recent years:
And here’s Hyundai’s US market share. Note the slight dip in 2023 as Toyota, Honda, Mazda, and sister OEM Kia all battle for the same portion of the new car market.
Over the same period, Hyundai’s average transaction price rose from $24,993 in 2018 to $36,584 in 2023, a price increase of 46 percent.
This is one of the biggest price increases in the industry. Hyundai says it’s aiming for more premium buyers, but are shoppers willing to pay nearly 50% more for the Hyundai brand? It looks likely considering Hyundai’s continued growth in America.
Next, we’ll take a look at Hyundai’s average selling prices over time. We’ve also included the overall market trends for comparison’s sake.
Now, let’s look at how Hyundai’s five best-selling models in America have fared when it comes to sales and price trends.
Hyundai Tucson
Last year, Hyundai sold 209,624 Tucson’s in America. That’s up 20% from 2022. However, Tucson prices have risen 15% in the past five years. Here’s a look at Hyundai Tucson price trends over the past five model years, with a breakdown showing the base model, mid-spec, and top-trim prices over time.
In 2024, CarEdge Data shows that the average transaction price for a new Hyundai Tucson is $34,788.
Last year, Hyundai sold 134,149 Elantra’s in America. That’s up 14% from 2022. However, Elantra prices have risen 17% in just five years. Here’s a look at Elantra price trends over the past five model years, with a breakdown showing the base model, mid-spec, and top-trim prices over time.
In 2024, CarEdge Data shows that the average transaction price for a new Hyundai Elantra is $25,971. Consider this: in 2019, not a single Elantra trim started over $25,000.
Last year, Hyundai sold 131,574 Santa Fe’s in America. US Santa Fe sales were up 10% year-over-year in 2023. However, Santa Fe prices have risen 30% in just five years. Here’s a look at Santa Fe price trends over the past five model years, with a breakdown showing the base model, mid-spec, and top-trim prices over time.
In 2024, CarEdge Data shows that the average transaction price for a new Hyundai Santa Fe is $37,830.
Last year, Hyundai sold 89,509 Palisades in America. Palisade sales were up 8% year-over-year in 2023. Palisade prices have risen more slowly than most other models, with prices rising 16% in five years. Here’s a look at Palisade price trends over the past five model years, with a breakdown showing the base model, mid-spec, and top-trim prices over time.
In 2024, CarEdge Data shows that the average transaction price for a new Hyundai Palisade is $50,367.
Last year, Hyundai sold 79,116 Kona’s in America. Kona sales were up 24% year-over-year in 2023. Kona prices have risen 16% in just five years, but it remains one of the most affordable crossovers on sale. Here’s a look at Hyundai Kona price trends over the past five model years, with a breakdown showing the base model, mid-spec, and top-trim prices over time.
In 2024, CarEdge Data shows that the average transaction price for a new Hyundai Kona is $29,530.
Be sure to check back for the latest Hyundai price data next month. In 2024, it’s a buyer’s market for the first time since the pandemic.
Looking to Save Thousands On Your Hyundai Purchase? We Can Help.
Who is CarEdge? Simply put, we’re a team of real people saving drivers serious money. How do we do it? We offer car buying help for every price point. From 100% free resources to an all-inclusive car buying concierge, and everything in between, CarEdge is taking the pain out of car buying.
How about some free car buying help…
Ready to outsmart the dealerships? Download your 100% freecar buying cheat sheets today. From negotiating a deal to leasing a car the smart way, it’s all available for instant download. Get your cheat sheets today!
Toyota prices have risen 19% since 2018. Today, Toyota MSRPs are $6,124 higher on average. It’s true that Toyota prices haven’t climbed as drastically as other car brands (notably Jeep), but the price hikes still exceed historical norms for car price inflation. Overall, new car prices in America have risen 28% over the same period.
Could Toyota’s rising prices be to blame for the brand’s declining sales? Is the brand pricing for a market that’s simply too premium for Toyota’s reputation? Which Toyota prices have risen the most? We’ll answer these questions and more. Plus, we’ll take a closer look at Toyota’s best-selling models.
Jeep’s Sales Fall 34% As Prices Rise
I think most automotive analysts would agree that Toyota Motor North America (TMNA) is doing just fine these days. Revenue and profits were both higher in 2023. But it’s not all good news, even as the brand has reached record market share.
Toyota’s US sales have been struggling to climb for most of the past five years. Yes, there was the pandemic and the ensuing parts shortage. Japanese automakers were hit particularly hard by the semiconductor chip shortage of 2021-early 2022. But even in 2023, the closest year we’ve had to a ‘normal’ year in a while, Toyota’s sales were essentially flat, and market share fell from 2022’s highs.
Toyota reported sales dropping from 2,128,263 in 2018 to 1,928,228 cars sold in 2023. For the first time in several years, Toyota’s market share in America fell in 2023.
Over the same period, Toyota’s average transaction price rose from $32,168 in 2018 to $38,298 in 2023, a price increase of 19 percent.
Toyota’s U.S. market share was steadily climbing as the brand conquered competitors like Chevrolet, Ford, and even Honda to an extent. That all ended in 2023, when Toyota’s market share took a slight dip. The leading theory for why this happened is that Hyundai and Kia’s rising popularity are a force to be reckoned with.
Could rising prices be to blame for stagnant sales, or is Toyota facing more competition from the likes of Kia and Hyundai? It’s likely a combination of these and other factors. Let’s take a look at Toyota’s average selling prices over time. We’ve also included the overall market trends for comparison’s sake.
Inflation is hitting everyone, including OEMs like Toyota. Clearly, Toyota has shielded their customers from the worst of car price inflation when compared to the industry average. Nevertheless, Toyota prices are climbing.
There’s another reality that has undoubtedly played into Toyota’s rising prices. As more buyers choose SUVs, crossovers, and even trucks (as is the trend these days), naturally, average transaction prices will rise. Larger vehicles almost always cost more than sedans.
Now, let’s look at how Toyota’s five best-selling models in America have fared when it comes to sales and price trends.
Toyota RAV4
Last year, Toyota sold 434,943 RAV4’s in America. That’s up 8.8% from 2022. However, RAV4 prices have risen 11% in the past five years. Here’s a look at RAV4 price trends over the past five model years, with a breakdown showing the base model, mid-spec, and top-trim prices over time.
In 2024, CarEdge Data shows that the average transaction price for a new Toyota RAV4 is $37,053.
Last year, Toyota sold 290,649 Camry’s in America. That’s up 1.5% from 2022. However, Camry prices have risen 6% in just five years. Here’s a look at Camry price trends over the past five model years, with a breakdown showing the base model, mid-spec, and top-trim prices over time.
In 2024, CarEdge Data shows that the average transaction price for a new Toyota Camry is $32,256.
Last year, Toyota sold 232,370 Corolla’s in America. US Corolla sales were up 4.5% year-over-year in 2023. However, Corolla prices have risen 12% in just five years. Here’s a look at Corolla price trends over the past five model years, with a breakdown showing the base model, mid-spec, and top-trim prices over time.
In 2024, CarEdge Data shows that the average transaction price for a new Toyota Corolla is $25,169.
Last year, Toyota sold 234,768 Tacoma’s in America. Tacoma sales were DOWN 1.1% year-over-year in 2023. However, rising prices could be to blame. Tacoma prices have risen 20.6% in five years. Here’s a look at Tacoma price trends over the past five model years, with a breakdown showing the base model, mid-spec, and top-trim prices over time.
In 2024, CarEdge Data shows that the average transaction price for a new Toyota Tacoma is $41,196.
Last year, Toyota sold 125,185 Tundra’s in America. Tundra sales were up 20% year-over-year in 2023. Tundra prices have risen 26.3% in just five years, the biggest price increase of any Toyota model. Looking at sales stats, truck buyers don’t seem to mind. Here’s a look at Toyota Tundra price trends over the past five model years, with a breakdown showing the base model, mid-spec, and top-trim prices over time.
In 2024, CarEdge Data shows that the average transaction price for a new Toyota Tundra is $64,191.
Be sure to check back for the latest Toyota price data next month. In 2024, it’s a buyer’s market for the first time since the pandemic.
Looking to Save Thousands On Your Toyota Purchase? We Can Help.
Who is CarEdge? Simply put, we’re a team of real people saving drivers serious money. How do we do it? We offer car buying help for every price point. From 100% free resources to an all-inclusive car buying concierge, and everything in between, CarEdge is taking the pain out of car buying.
How about some free car buying help…
Ready to outsmart the dealerships? Download your 100% free car buying cheat sheets today. From negotiating a deal to leasing a car the smart way, it’s all available for instant download. Get your cheat sheets today!
Jeep prices have risen 61% since 2018. Overall, new car prices in America climbed 28% over the same period. Could Jeep’s price inflation be to blame for the brand’s falling sales? Which Jeep prices have risen the most? Are all trim levels seeing equal price hikes? We’ll answer these questions and more. Plus, we’ll take a closer look at Jeep’s best-selling models. But first, let’s dive into Jeep’s overall sales and price trends in the U.S. market.
Jeep’s Sales Fall 34% As Prices Rise
Is Jeep okay? The beloved brand has millions of diehard fans worldwide, but it seems that’s not enough to keep sales climbing. There’s no hiding the fact that Jeep is losing market share rather quickly. Looking at the numbers, Jeep’s parent company Stellantis reported sales dropping from 973,227 in 2018 to 642,924 cars sold in 2023. In the blink of an eye, Jeep sales fell 34%. For the first time in many years, Jeep’s market share in America has fallen below 5% of new car sales.
Over the same period, Jeep’s average transaction price rose from $33,954 in 2018 to $54,715 in 2023, a price increase of 61 percent.
Could worsening car price inflation be to blame for Jeep’s declining sales, or could it be concerns about reliability and high maintenance costs? It’s likely a combination of these and other factors. Let’s take a look at Jeep prices over time.
The launch of the Jeep Wagoneer and Grand Wagoneer was chief among the reasons for Jeep’s soaring prices. However, other factors were at play, too. In the next section, we’ll take a look at how much Jeep raised prices for their 5 best-selling models. We’ll even break it down by trim level.
Jeep Grand Cherokee
Last year, Stellantis sold 244,594 Jeep Grand Cherokee’s in America. That’s up 10% from 2022. However, Grand Cherokee prices are rising. Here’s a look at Grand Cherokee price trends over the past five model years, with a breakdown showing the base model, mid-spec, and top-trim prices over time.
As Jeep continues to seek out buyers in the premium market, they continue to introduce more expensive top-line trims. Prices for a top-of-the-line Grand Cherokee is approaching, and in some cases exceeding, $80,000.
In 2024, CarEdge Data shows that the average transaction price for a new Jeep Grand Cherokee is $53,570.
The Jeep Wrangler has been on sale for nearly 40 years. In 2023, Jeep sold 156,581 Wranglers in America. Sales were down 14% from 2022. Here’s a look at Jeep Wrangler prices over time for three popular trim options.
The story is much the same for the Wrangler. While the Sport and Rubicon trim levels have slowly climbed higher, top trims have nearly doubled in price since 2020.
In 2024, CarEdge Data shows that the average transaction price for a new Jeep Wrangler is $59,457.
Last year, Jeep Compass sales totaled 96,173, an increase of 12% year-over-year. Here are Jeep Compass price trends over the past five years, showing car price inflation as it happened.
In 2024, CarEdge Data shows that the average transaction price for a new Jeep Compass is $34,688.
Gladiator sales fell sharply in 2023, down 29% from the year before. Could rising prices be to blame? It’s possible. Here’s a look at how rapidly Jeep Gladiator prices have climbed.
The Gladiator has seen significant price hikes every year since its release. The popular Rubicon has seen the steepest price increases.
Today in 2024, CarEdge Data shows that the average selling price of the new Jeep Gladiator is $52,401.
After launching the Wagoneer for the 2022 model year, Jeep has had limited success selling the large SUV. The premium price tag sent Jeep’s average selling prices skyward, despite selling just 29,148 copies in 2023. The even larger and more luxurious Grand Wagoneer sold 10,618 units last year.
Being that this is a new model, we don’t have an extensive price history just yet. We can see that since 2022’s launch, Jeep has already raised the base price of the Wagoneer from $60,995 in 2022 to $64,945 for 2024.
Looking to Save Thousands On Your Jeep Purchase? We Can Help.
Who is CarEdge? Simply put, we’re a team of real people saving drivers serious money. How do we do it? We offer car buying help for every price point. From 100% free resources to an all-inclusive car buying concierge, and everything in between, CarEdge is taking the pain out of car buying.
How about some free car buying help…
Ready to outsmart the dealerships? Download your 100% free car buying cheat sheets today. From negotiating a deal to leasing a car the smart way, it’s all available for instant download. Get your cheat sheets today!
In February, smart car buyers can negotiate thousands of dollars off of brand-new 2024 models, but only if you know where to look. Several cars, trucks, and SUVs simply aren’t selling like OEMs and dealers expected. Normally, there’s between 45 and 65 days of supply for new cars. This means that if there were no new shipments, it would take that many days to sell the existing inventory and current selling rates. Right now, multiple models are above and beyond 100 days of supply, and in some cases, well north of 200 days of supply.
Calling this an oversupply would be an understatement. This surplus has turned the tables for potential buyers, who now find themselves in a unique position to leverage this abundance for potentially better deals. Utilizing the latest insights from CarEdge Data, we’ve pinpointed which 2024 cars and trucks are currently the most negotiable.
For 2024, Ford has refreshed the exterior with updated headlights and a redesigned grille. A 2.7-liter turbocharged V-6 engine now sits as the standard powertrain, offering a fresh dynamic under the hood. Additionally, the previous Platinum Plus variant has been replaced by a newly introduced Limited trim, marking a significant update in the model’s lineup.
The 2024 Explorer largely mirrors the 2023 model. Minor updates include newly integrated air vents and rearranged components to accommodate a bigger infotainment screen and a new smartphone shelf.
In 2024, the Jeep Compass sees minimal changes, with the addition of new appearance and equipment packages slated for later in 2024. An updated front grille insert and fresh 19-inch wheel designs will be introduced soon. Additionally, the Trailhawk variant will be equipped with a new set of all-terrain tires.
The 2024 lineup introduces the Carbon Turbo trim, featuring Zircon Sand paint, black wheels, and Terracotta leather seats, and is powered exclusively by a 250-hp 2.5-liter turbocharged engine. The Select trim is now called the Select Sport, which boasts upgraded 18-inch black metallic wheels, black mirrors, and black synthetic leather. Additionally, a larger 10.3-inch infotainment screen is now offered in the higher-end Turbo models.
For 2024, the Ram remains largely unchanged, possibly in anticipation of the substantial updates planned for the 2025 model. Notably, Ram discontinued the diesel engine option for the 1500 model last year.
With more than twice the normal inventory levels in some cases, it’s clear that several 2024 models are highly negotiable, despite being fresh out of the factory. Before you visit dealership lots, remember this: dealers are stubbornly reluctant to lower sticker prices, but they’re more open to negotiating with educated buyers than at any time in the past few years. With negotiation know-how, you can save thousands.
In 2024, it’s possible to own a full-size 4×4 truck AND get good fuel economy without switching to diesel. From the Toyota Tundra to the Ford F-150, and even the Ram 1500, hybrid powertrains have made their way into America’s favorite trucks. And no, we’re not talking about electric trucks. Here’s a look at what makes these trucks the top picks for truck fans looking to spend less on gas.
The 2024 Ford F-150 Hybrid is a notable contender in the full-size hybrid truck market, continuing Ford’s innovative legacy. The F-150 PowerBoost Hybrid stands out as a leader in the segment. Last year, Ford sold over 50,000 copies.
The F-150 Hybrid combines a twin-turbo 3.5-liter V-6 engine with a 35-kW electric motor integrated into the transmission, delivering 430 horsepower and 570 lb-ft of torque—nearly 50 hp more than the non-hybrid V-6. Additionally, it offers the highest fuel efficiency among all hybrid full-size trucks on sale in 2024.
The 2024 Ram 1500 employs a unique approach to hybrid technology with its eTorque system, available in both V-8 and V-6 variants. This system enhances the traditional alternator to supply additional power to a compact battery, offering more torque and other features, albeit without continuous power drive.
Although it’s not a complete hybrid system like you’ll find in the F-150 and Tundra, the Ram 1500 eTorque’s mild hybrid design provides slight improvements in urban driving efficiency. Its advantage over the standard gas-powered Ram model is limited to just 1 mile per gallon.
The 2024 Toyota Tundra Hybrid distinguishes itself in the full-size hybrid truck segment with its innovative i-Force system, which primarily boosts horsepower, while also offering improved fuel efficiency as a secondary benefit. Standard across all new Tundra models is a 3.4-liter twin-turbo V-6 engine, with the hybrid variant adding an extra nearly 50 horsepower and over 100 lb-ft of torque. The rear-drive i-Force Tundra is the most fuel-efficient option within the lineup, but a 4×4 option is available.
There are a few excellent 4×4 hybrid trucks available in 2024. The Toyota Tundra and Ford F-150 both offer models that feature four-wheel drive paired with comprehensive hybrid systems. The Ram 1500 also offers a 4×4 option with its mild hybrid system, though it doesn’t match the full hybrid capabilities of the Tundra and F-150.
As you can see, there’s plenty to choose from in the realm of fuel efficient full-size trucks in 2024.
Free Car Buying Help Is Here
Ready to outsmart the dealerships? Download your 100% freecar buying cheat sheets today. From negotiating a deal to leasing a car the smart way, it’s all available for instant download. Get your cheat sheets today!
