The 2023 Toyota RAV4 price increase is minimal and nothing compared to what some automakers are dishing out. Still, it’s wise to consider how much the RAV4 is going up and what’s being offered for that extra cost.
In this guide, I cover all of the MSRP increases on the 2023 RAV4. I also show you what’s changing and help you determine if the 2023 RAV4 is right for you.
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Price Increase for the 2023 RAV4
|Trim Level||2022 MSRP||2023 MSRP||Price Change|
|XLE Premium||$31,335||$31,975||+$640 (2.04%)|
|TRD Off-Road||$36,915||$37,195||+$280 (0.76%)|
|Hybrid LE||$29,575||$30,225||+$650 (2.2%)|
|Hybrid XLE||$31,045||$31,735||+$690 (2.22%)|
|Hybrid XLE Premium||$33,935||$34,625||+$690 (2.03%)|
|Hybrid Limited||$38,075||$38,530||+$455 (1.2%)|
|Hybrid SE||$32,230||$32,920||+$690 (2.14%)|
|Hybrid XSE||$35,555||$35,885||+$330 (0.93%)|
|Prime SE||$40,300||$41,590||+$1,290 (3.2%)|
|Prime XSE||$43,625||$45,460||+$1,835 (4.21%)|
All of the 2023 Toyota RAV4 models have risen slightly in price. With the gas-powered RAV4, average prices have gone up between 0.76% and 2.25%. The smallest increase occurs with the TRD Off-Road trim, while the XLE sees the highest percentage increase.
Even with these increases, the 2023 Toyota RAV4 LE features the lowest MSRP of just $27,575. Considering everything that’s included standard on this trim, it’s still considered quite a bargain.
With the RAV4 Hybrid lineup, numbers remain similar. The smallest increase occurs with the XSE, only going up 0.93%. On the other hand, the largest increase is 2.22% with the XLE trim.
RAV4 Hybrid models used to have a starting price of just under $30,000. With the latest increases, it now costs just over $30k to get behind the wheel of this hybrid SUV.
Overall, it’s the 2023 Toyota RAV4 Prime with the sharpest price change. The Prime SE now costs $41,590, reflecting a 3.2% increase. Additionally, the Prime XSE now features an MSRP of $45,460, which is a 4.21% increase over the 2022 models. This higher increase has a lot to do with the RAV4 Prime availability and popularity.
What’s Changing on the 2023 Toyota RAV4
For the 2023 RAV4 model year, all of the infotainment systems have been upgraded. There are options for an 8” and 10.5” touchscreen display. New features, such as wireless Apple CarPlay and Android Auto, are also standard with every trim level.
RAV4 models come standard with a 7” display gauge cluster. However, the XLE Premium and TRD Off-Road trims now offer a 12.3” cluster as optional equipment. With the Limited trim, the larger display is standard.
Additionally, the Toyota RAV4 Hybrid now offers a Woodland Edition model. This adventure-driven model includes Falken Wildpeak all-terrain tires on bronze wheels. It also features specialized suspension tuning, unique exhaust tips, and a hefty roof rack.
The interior of the Woodland Edition also brings some fun upgrades. The cargo area contains a 120-volt outlet and the cabin is protected by all-weather rubber floor mats featuring the Woodland Edition decals.
(Sources: cars.usnews.com, caranddriver.com)
What Isn’t Changing on the 2023 Toyota RAV4
Everything that is loved about the fifth-generation Toyota RAV4 stays the same for the 2023 model year. The gas-powered RAV4 continues to contain a 203-horsepower 2.5-liter four-cylinder motor paired with an eight-speed automatic transmission. This RAV4 comes standard with front-wheel drive but can also be equipped with all-wheel drive.
The 2023 Toyota RAV4 Hybrid continues to include 219 combined horsepower coming from the 2.5-liter four-cylinder engine and two electric motors. This system is paired with a CVT and standard all-wheel drive.
Additionally, the 2023 Toyota RAV4 Prime has an electric motor and a 2.5-liter four-cylinder engine to create 302 combined horsepower. It also has a CVT and all-wheel drive standard.
The body style and interior dimensions haven’t changed with the 2023 RAV4 lineup. This Toyota SUV continues to hold five people comfortably and contains a cargo hold ranging from 33.5 to 37.6 cubic feet in the back.
(Sources: cars.usnews.com, caranddriver.com)
Should You Buy a 2022 or 2023 Toyota RAV4?
Considering the minimal price difference between the 2022 and 2023 Toyota RAV4, it makes sense for most people to choose the 2023 model year. The amount paid far outweighs the amazing benefits added to the new lineup. The new infotainment system with the wireless Apple CarPlay and Android Auto add capability to the everyday drive.
If you are in the market for a RAV4 Hybrid, the Woodland Edition is one model that can’t be found in the 2022 lineup. Therefore, you would have to choose the 2023 RAV4 to get this edition.
However, many dealerships are offering rock-bottom pricing on leftover 2022 Toyota RAV4 models right now. If you are trying to save a buck and don’t care about the upgrades, it might be better to go with a 2022 RAV4 instead. I recommend evaluating all of your options at a local dealership to see what’s right for you.
Frequently Asked Questions
The 2023 RAV4 is Worth Every Penny
A careful evaluation proves that the 2023 Toyota RAV4 price increase is minimal. Compared with the upgraded features, the cost is lower than expected. Not only has Toyota been able to remain competitive in the segment, but it also continues to exceed expectations with the RAV4.
A careful examination of both the 2022 and 2023 RAV4 models reveals the worth of the newer model. For this reason, it’s best to evaluate the RAV4 models side-by-side at your local dealership.
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