If you’re a car enthusiast, you’re probably aware that the auto industry is currently going through an intense period of technological innovation. This has led to a surge in demand for high-priced cars that can display just how cutting-edge they are — and how much your wallet will hurt if you buy them.
As a result, many of the most expensive cars on the market right now will cost even more in the future. The following list features 10 vehicles that are expected to increase in price by at least $20,000 by 2023 — and some by much more than that.
Tesla Model 3: $150,000
Tesla has raised the bar when it comes to high-end electric cars, but the company is expected to go even further with its upcoming Model 3. While the Model 3 is now more affordable than the Model S, it’s still too expensive for a lot of people. As a result, Tesla is expected to lower the price of the Model 3 by $20,000 in 2023.
Tesla might also refresh the Model 3’s design, as it’s currently running very low on stock. When the company cuts the price of the Model 3, it’ll also have more money to spend on improving its range, performance, and design. However, the Model S and Model X haven’t had any major updates for almost three years, so there’s no guarantee the Model 3 will get an update, either.
Porsche 988: $160,000
The 988‘s price will increase by $40,000 by 2023 due to rising materials costs and the stronger U.S. dollar. However, this increase may be too low, as the 988 has always been expensive in its current form it’s just that a smaller number of 988s were sold.
The 988’s current dwindling sales may lead to it being discontinued altogether, reducing the number of 988s on the road. Porsche is expected to introduce a new, more upscale 988 in 2023. As a result, this new 988 will cost even more than the current 988. Additionally, Porsche is expected to use the new 988 as an introduction to a new line of cars that are expected to have a lower base price than the 988.
Bugatti Chiron: $2 million
The Chiron is one of the rarest cars on the planet, so it will likely remain expensive even in 2023. However, Bugatti’s financial troubles may lead to it being discontinued as soon as 2019, reducing Chiron’s visibility to the public and making it even rarer.
Bugatti’s financial woes may also prevent it from introducing any new, more affordable models until the current line is retired. As a result, the company may decide to re-introduce the Chiron in 2023 at a price of $2 million. Beyond the price increase, there’s not a lot that’s expected to change with the Chiron in 2023. It may get a minor refresh or a new exterior color, but there’s no guarantee that’ll happen.
BMW i8: $200,000
BMW has already announced that it plans to discontinue the i8, which means the i8’s estimated $200,000 price increase by 2023 is likely set in stone. There’s a chance that BMW might decide to offer the i8 in a special, one-off edition in 2023, similar to how Aston Martin offers the One-77 and One-77 S
. However, there’s no guarantee that’ll happen. BMW is also expected to release a new, more affordable electric vehicle in 2023. While it’s not yet known which model this will be, it’s likely to cost less than the i8 did when it was new.
Mercedes-Benz EQC: $225,000
The EQC’s price is expected to rise by $110,000 due to rising materials and labor costs. However, this may be too low, as Mercedes cars have been discontinuing models and reducing the number of dealerships in some of its markets.
It’s possible that Mercedes will have trouble selling the EQC in these markets, leading it to discontinue or significantly cut the price. The most likely scenario is that Mercedes simply increases the price of the EQC in 2023.
Jaguar I-Pace: $230,000
We don’t expect Jaguar to offer a new, more affordable I-Pace in 2023, as it’s expected to be discontinued instead. Jaguar’s North American lineup is expected to be very different by that time, however, and a new model could be introduced.
Jaguar will also have plenty of space to offer a more affordable model in 2023. It may release a new, more affordable model designed to compete with the Tesla Model 3 or the Audi e-Tron. Jaguar is also expected to re-introduce the I-Pace in a new, more affordable form.
Ferrari FF successor: $250,000
Ferrari is expected to eventually discontinue the FF, which is currently the most expensive model in its lineup. It’s possible that Ferrari will discontinue the FF in 2023, but it’s also possible that the company will re-introduce the car in a more affordable form. Ferrari may also re-introduce the FF in a new, more expensive form, similar to how Porsche re-introduced the 988 in a more expensive form.
Lamborghini Urus: $280,000
The Urus’s price is expected to increase by $130,000 due to rising materials costs and the strengthening dollar. However, this increase may be too low, as the Urus is one of Audi’s most expensive models — and Audi is struggling to sell new cars. If Audi is able to sell enough new cars, it may discontinue the Urus in 2023. Audi is also expected to discontinue several of its most expensive models in 2023, including the A8 and the RS7.
Hyundai NEXO: $300,000
Hyundai is expected to discontinue the NEXO in 2023, as it’s been offered in only one form since its introduction in 2016. However, the model is also extremely expensive, and a more affordable version may be introduced instead. Hyundai is also expected to re-introduce the NEXO in a more affordable form. The company may also discontinue the Kona and Veloster, two models that are currently expensive.
Conclusion
While the auto industry is in an unprecedented period of technological innovation, the majority of people won’t be able to afford them. Fortunately, the 10 expensive cars listed above are likely to be the only ones available by 2023.
