Car Price Inflation Is Real – These Brands Are the Worst

What vehicle are you interested in?

Last updated May 10, 2024

The automotive industry has always been subject to economic trends and shifting consumer preferences. However, the last five years have been a whirlwind of unprecedented change. On average, new car prices have increased by about 32% since 2018. But some automakers seem to have thrown caution to the wind, pushing their prices far higher. Here’s a look at car price inflation over the last five years.

Chrysler, Jeep, Dodge, and Ram Prices Have Risen 50% in 5 Years

car price inflation

Using the tools available through CarEdge Insights, our team analyzed new car inventory as it relates to automaker price hikes over the past five years. Let’s take a look at the data, and then dig into what it all means:

MakeMarket Day Supply (July 2023)Market Day Supply (December 2023)5-Year Price Increase
American Honda (Honda, Acura)305229.43%
Toyota Motor Corporation (Toyota, Lexus)344423.46%
Hyundai Motor Company (Hyundai, Kia, Genesis)456849.67%
Nissan (Nissan, Infiniti)6211719.10%
GM (Chevrolet, Buick, Cadillac, GMC)679229.69%
Volkswagen Group (Audi, Volkswagen, Porsche)8010735.93%
Ford Motor Company (Ford, Lincoln)8413337.29%
Stellantis (Jeep, Dodge, Chrysler, Ram, Alfa Romeo, Fiat)16022550.61%

Leading the pack in price hikes is the Stellantis group, which includes brands like Chrysler, Jeep, Dodge, and Ram. These brands have collectively increased their prices by a whopping 50.63% over the past five years, which is more than double the overall economy’s inflation (22.0%) over the same period. 

Hyundai and Kia Prices Are Not Far Behind

Hyundai price increases

Once synonymous with budget-friendly compact vehicles, Korean brands Hyundai and Kia have taken a different path over the past decade. Hyundai, Kia, and Genesis transaction prices have collectively risen 49.67% since 2018.

The automakers are progressively moving towards premium and larger vehicles like SUVs and electric cars. Their intentions to be seen as premium brands have been evident, with prices of popular budget models like the Hyundai Elantra rising by 22% in five years.

Subaru and Nissan Prices Increased the Least

Nissan price increases

Contrasting the trend, Subaru seems to have taken a different strategy. With a five-year transaction price increase of ‘only’ 19.05%, the automaker has managed to maintain an upward trajectory in terms of market share. This gain, paired with standard offerings like all-wheel drive, could be a testament to the importance of price competitiveness in the industry.

Nissan, on the other hand, has likely seen less price increases for a different reason. Nissan has been steadily losing U.S. market share for years. When demand falls, dealer markups and MSRPs soften. Since 2018, Nissan transaction prices have risen 19.10%. And now, one of the most popular and least expensive models, the Altima, has been discontinued after three decades.

Free Car Buying Help Is Here

In 2024, the car market is changing. For the first time in years, great deals can be won with negotiation know-how. Utilizing tools like CarEdge Insights can give you a better idea of current inventory levels and help you determine where the best deals might be.

Car buying cheat sheet

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!


Submit a Comment

Your email address will not be published. Required fields are marked *


The latest insights
right in your inbox

Get the latest car trends and money-saving strategies, once a week.

By signing up, you agree to CarEdge's Privacy Policy and Terms & Conditions.

Share This