3 SUVs That Will Have Massive Price Increases in October 2024
Written by
Laura Bogart
Edited by
Amber Barkley
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SUV. For many car buyers, these three little letters spell out a durable, highly impressive car capable of dominating the off-road and the off-ramp in equal measure. There are so many models to choose from, capable of addressing the need of both the busy parent shuffling to practices and school events galore, as well as the weekend warrior. But some SUVs make for smoother travels to your bank account than others.
Some car experts are anticipating a spike in prices for certain SUVs leading into the fall. As Blake Shaw, auto expert and author of the All About Wheels blog, explained it, the mix of increased demand, higher production costs and supply chain issues could be behind the rise in prices for SUVs. However, there are some SUVs that Shaw said might be poised to experience particularly significant hikes.
Ford Bronco Sport
Shaw shared that while fans of the famous SUV might be thrilled to see the Bronco make a big comeback, fueled in part by its off-road capabilities and the power of nostalgia, supply chain issues — especially for specific parts — might cause a higher price than they’d like.
Toyota RAV4 Hybrid
Though the RAV4 Hybrid has become a darling among SUV aficionados for its low fuel consumption, Shaw believes that it’s about to see a rise in price.
“I’m almost certain there’ll be a rise in prices for the RAV4 Hybrid this fall, firstly due to the high demand for fuel-efficient vehicles and the RAV4 itself, but also because of the long wait times for new orders,” she said.
The RAV4 is in high demand now, which can also contribute to a price spike, along with longer wait times, potentially six months or more, for new vehicle deliveries.
“With the current unpredictable gas prices, shoppers are much rather choosing electric and fuel-efficient SUVs,” said Shaw.
Subaru Outback
The Subaru Outback may be a stalwart among popular SUVs, retaining its appeal because of its adaptability and ability to tackle off-road terrains, but Shaw is anticipating its prices also climbing steep hills this fall.
“The Outback’s fall sales will also very likely see price increases because of the increased demand and manufacturing costs, particularly in regions where drivers love outdoor adventures,” she said.
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