Tag Archives: adjustments

Motorsport

People Are Still Paying Way Over MSRP For Minis And Porsches

New automobile costs are at document highs, however that does not embody so-called “market adjustments” from sellers. Demand is stabilizing as we head into 2024, however there are nonetheless many new automobiles promoting effectively over the producer’s recommended worth. Leading the cost is the combustion-powered Mini Cooper Hardtop, which has a median MSRP of $25,858. A current iSeeCars study reveals the common promoting worth is definitely a whopping $37,473.

That’s 25.5 p.c over the MSRP, having us questioning the sanity of Mini patrons. The figures apply to the outgoing technology, which dates again to 2014. A brand new electric Cooper hit the scene last year, and it will likely be joined by a gas-powered version this year. Nevertheless, Mini followers clearly could not wait, and paid handsomely for it.

2024 Mini Cooper S

The Hardtop is not the one Mini on the listing, both. Moving additional down you will discover the Mini Countryman and Clubman promoting 18.7 p.c above sticker worth. That interprets to $40,757 for the Countryman and $43,238 on the Clubman. The electrical Mini is on there too, fetching $36,434 on common – 17.8 p.c over its MSRP.

Porsche patrons are additionally shelling out huge bucks over MSRP. The Taycan sedan is second to the Mini Hardtop, promoting for 23.1 p.c over its recommended worth. That interprets to an enormous $25,836 past the Taycan’s common sticker of $111,893. And like Mini, it isn’t the one Porsche patrons are determined to personal. The Cayenne, Macan, Taycan Sport Turismo, and the 718 Boxster/Cayman make the minimize, all fetching round 20 p.c over MSRP. In truth, Porsche and Mini automobiles comprise half of this top-20 listing.

2024 Porsche Cayenne Turbo E-Hybrid Rear 3/4

Here’s a breakdown of the 20 new automobiles which have the very best common promoting worth over MSRP, as of January 2024 per iSeeCars.

Model Average MSRP Average Selling Price Percent Difference
Mini Cooper Hardtop $29,858 $37,473 +25.5%
Porsche Taycan $111,893 $137,729 +23.1%
Porsche Cayenne $86,593 $105,574 +21.9%
Porsche Macan $66,310 $80,421 +21.3%
Porsche Taycan Sport Turismo $121,248 $146,594 +20.9%
Cadillac CT5-V $56,043 $67,254 +20%
Porsche 718 Boxster $83,301 $99,848 +19.9%
Toyota Corolla Cross Hybrid $28,248 $33,719 +19.4%
BMW X3 M $75,448 $90,057 +19.4%
Cadillac CT4-V $55,873 $66,633 +19.3%
Porsche 718 Cayman $89,092 $105,910 +18.9%
Genesis GV70 $49,351 $58,646 +18.8%
Mini Countryman $34,337 $40,757 +18.7%
Mini Clubman $36,435 $43,238 +18.7%
Lexus LS 500 $80,072 $94,962 +18.6%
Mercedes-Benz GLE-Class $69,500 $82,399 +18.6%
Ford Maverick $27,996 $33,098 +18.2%
Mini Cooper Electric $30,918 $36,434 +17.8%
Genesis GV80 $59,677 $70,080 +17.4%
Audi RS6 Avant $125,609 $147,482 +17.4%

The excellent news is that, per the examine, general markups are falling. At this time final 12 months, the common was 8.9 p.c. Now, we’re sitting at 7.2 p.c. Electric automobiles have seen the most important decline, with automobiles just like the Hyundai Kona Electric and Volkswagen ID.4 promoting barely beneath MSRP on common.

“Supply is gradually catching up with demand, which means even as new car MSRP rises the ability for dealers to charge over MSRP falls,” stated Karl Brauer, iSeeCars Executive Analyst. “At some point we’ll get back to pre-Covid new car pricing. But we’re not there yet, and at this rate it’s still at least a few years out.”

Volkswagen

Volkswagen Group Releases Third Responsible Raw Materials Report

The latest Responsible Raw Materials Report from Volkswagen Group focuses on making adjustments to management systems and processes in compliance with the Supply Chain Due Diligence Act, which became effective on January 1, 2023. It also introduces the Responsible Supply Chain System (ReSC) and places emphasis on the newly implemented Human Rights Focus System (HRFS). The HRFS is designed to identify high-risk areas related to human rights violations and environmental issues, allowing for swift and appropriate action. Additionally, Dr. Kerstin Waltenberg has been appointed as the Human Rights Officer to monitor compliance with human rights due diligence.

“The Responsible Raw Materials Report not only showcases our progress in terms of transparency and risk management in the raw material supply chains, but also highlights the challenges we face. We go above and beyond our legal obligations,” says Dirk Große-Loheide, Member of the Brand Board of Management of Volkswagen responsible for Procurement and member of the Extended Executive Committee. “We take the procurement of raw materials sustainably very seriously and continuously collaborate with indirect suppliers in upstream supply chains, which pose the greatest challenge. Our Raw Material Management System plays a crucial role in this, implementing specific measures to identify and mitigate risks in these supply chains.” Dirk Große-Loheide adds, “With the Responsible Raw Materials Report, the Volkswagen Group, together with its brands Audi, Porsche, Scania, and MAN, documents our efforts and demonstrates that sustainable procurement is achievable. This report may also serve as an inspiration to others.”

In 2022, a major focus was on maintaining close cooperation with battery suppliers and their suppliers, from the mining stage to the production of battery cells. The aim was to increase transparency in complex supply chains and conduct audits to ensure responsible sourcing of raw materials. With the establishment of the new battery company PowerCo SE and the first battery cell factory at the Salzgitter site, Volkswagen engaged in deeper dialogue with relevant stakeholders to address human rights and environmental risks, and advocate for the certification of specific mines.

As a significant step in this direction, Volkswagen joined the “Initiative for Responsible Mining Assurance (IRMA)” in March 2022. The company has committed to gradually implementing the IRMA standards in its battery supply chains. IRMA is a coalition of NGOs, unions, affected local communities, investors, mine operators, and raw material customers, all working towards improving conditions in industrial mining.

Furthermore, Volkswagen’s involvement in sustainable supply chains has been expanded through its membership in the Leather Working Group (LWG), an initiative for the responsible procurement of leather, and the election of MAN Bus & Truck to the advisory council of The Copper Mark.

Since 2021, Volkswagen Group has been the first automotive company to publicly and voluntarily report on its Group-wide efforts to mitigate human rights and environmental risks in high-risk supply chains. The report follows the “Due Diligence Guidance for Responsible Business Conduct” from the OECD, which outlines five steps for responsible due diligence, and complies with the requirements of the “OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas.”

The report provides detailed information on Volkswagen’s methodology and activities regarding the Raw Material Management System for responsible sourcing of raw materials. It covers 16 high-risk raw materials, including lithium and cobalt used in batteries.

Since 2019, all relevant direct business partners of the Volkswagen Group are subject to mandatory sustainability ranking, which assesses environmental and social standards in addition to criteria such as cost and quality. Since 2020, the group has required full disclosure of the supply chain down to the mining stage for all new contracts related to battery raw materials.