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Forgotten America

Bidenomics: 82% of Americans are now paying above sticker price for dealership cars

Car dealers raising prices up to 82% above retail price, as Ford  threatens to withhold

Four fifths of Americans who bought a car from a dealership last year paid more than the sticker price - a 276-fold increase in just two years. A new study from auto market research firm Edmunds showed that only 3 per cent of cars bought at American dealerships were sold over the manufacturers' suggested retail price (MSRP) at the start of 2021. The trend slowly rose by May before skyrocketing up to 82 per cent in January 2022, a 276-fold increase since the 0.3 percent in 2020. Ford saw an average of $163 add-on to MSRP in 2021, although one Seattle woman told the Washington Post she'd been warned she'd have to pay $12,000 over the list price for one of the firm's hybrid pick-up trucks, prompting her to abandon the purchase. GM's Chevrolet and GMC brands saw markups of $625 and $677, respectively. GMC's prestige Cadillac line saw an average of $4,048 last month. Kia, Hyundai's popular bargain brand, saw an average mark up of $2,289. On average, the new markup on cars have cost consumers an extra $728, with shoppers reporting that electric vehicles and hybrids are being sold at an additional $10,000 or more. Ford said they would withhold deliveries of their most popular vehicles, including the new F-150 Lightning pickup and other electric vehicles, from dealerships that are overcharging the cars..

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