Are you in the market for a new SUV? According to the Private Enterprise Research Center (PERC) at Texas A&M University, in the one-year period from December 2020 to December 2021, the price of new cars increased by 11.7%, while used car prices increased by 37.2%.
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Many of the price hikes stem from lingering pandemic bottlenecks. When factories were forced to shut down, production halted, which caused demand to outweigh supply. At the same time, raw material costs began to rise, making it more expensive for manufacturers. Both of these factors combined led to stiff price increases passed down to car buyers.
Although the brunt of the pandemic is over, the auto industry is still facing constraints in materials and inventory. As a result, higher price tags are being placed on new vehicles hitting the lot. Here are five SUVs expected to have massive price increases in early 2025.
If you’re interested in purchasing a Ford Bronco, be prepared for a large price hike in January. The 2025 base model starts at $39,890, accoding to Car and Driver, which is over $8,000 higher than 2024’s base pricing of $30,640. Similarly, the Badlands trim package will start at $51,990 on the 2025 model, which is over $10,000 higher compared to 2024’s pricing of $39,985.
In 2025, the Bronco model is also expanding its trim packages to add the Black Diamond and Stroppe Edition, both of which come with high price tags.
“The Ford Bronco’s popularity and limited production are key drivers, as are ongoing labor strikes that have tightened inventories,” said Geoff Cudd, Founder of FindTheBestCarPrice.com. “Due to these pressures, prices could rise by 5 to 10%.”
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The Lincoln Navigator is another SUV with stiff price increases going into 2025. The Premiere version, which is no longer available, was the most affordable option in 2024 at $85,260, according to Car and Driver. The 2025 model starts with the Reserve trim package, which retails for $101,990 before any upgrades or additions. If you’re looking for all the premium features, expect to pay upwards of $120,000 for the Black Label version.
“The Navigator has been one of the most expensive SUVs on the market for years, but in 2025, the starting price will exceed $100K,” said Melanie Musson, auto industry expert with CarInsurance.org. “The 2025 Navigator has a new exterior, upgraded engine and more advanced safety features and digital upgrades. The price tag reflects the overhaul.”