Even before the semiconductor chip shortage and various other supply chain issues sent new and used vehicle prices soaring to record levels, new, hot models were seeing dealer-applied markups for some time after those vehicles initially launched. This phenomenon has only gotten worse in recent months, with popular vehicles like the 2021 Ford Bronco and 2022 Ford Maverick being slapped with markups on dealer lots, and now, it appears that some 2022 Ford F-150 Lightning reservation holders are already being told their new all-electric pickups will cost more than expected, too.
The ElectricVehicles subreddit has put together a spreadsheet tracking these dealer markups, and needless to say, it contains some pretty alarming information. Several 2022 Ford F-150 Lightning reservations holders have reported that their dealer has informed them that they will need to pay a $10,000 markup to take delivery of their vehicles, while one dealer in Virginia is asking for a whopping $30,000 on top of the pickup’s MSRP for anyone that wants to be among the first 25 customers to bring home an F-150 Lightning.
Making matters worse, that same dealer informed reservation holders that they will have to put down an additional $5,000 deposit to secure their place in line, which will at least go toward the Lightning’s purchase price. However, those that choose to cancel their order later on will not get that money back.
This is nothing unusual in the world of automobiles, and there are also plenty of dealers selling the F-150 Lightning at MSRP. However, this once again reminds us that it’s wise to shop around and consider different dealerships when purchasing a new vehicle, particularly one that’s in high demand with a low supply. As Ford Authority previously reported, even though it is ramping up F-150 Lightning production sooner than originally planned, Ford won’t be able to fulfill all of its 200,000 pre-orders in the 2022 model year, especially if 80 percent of those reservation holders convert them to orders as CEO Jim Farley believes.
We’ll have more on the F-150 Lightning soon, so be sure and subscribe to Ford Authority for the latest Ford F-Series news, Ford F-150 news, F-150 Lightning news, and continuous Ford news coverage.
Comments
Ford needs to put a leash on these greedy, unscrupulous and most likely dishonest dealerships. If they allow this practice to continue I hope GM and Ram will take the best selling truck title from Ford. I think Ford is shooting for 50 years, but that will never happen if they continue to allow this behavior.
If I was Ford, I would ban these dealerships from ever being able to place orders for the Lightning F150.
Then again, China will make up the difference since Ford sold out to a communist country because of greed.
If true, let them find the stupid ppl that will agree to that…I definitely not .
Ford really needs to either stop with the reservation system or forbid dealer markups on reservations. It’s not a reservation if you change the pricing after the reservation is placed and the system automatically picks your closest dealer. This nonsense with the markup keeps screwing people attempting to buy Fords. I bought a Ford Bronco and while I really like the vehicle, I’ve told every single person that has asked that they should stay away from Ford because they keep screwing over their customers.
Some Ford dealers may feel it is morally wrong to charge less than what customers will pay and Ford must feel it is right for dealers to charge whatever they can get away with.
Ford dealers selling all vehicles at MSRP should announce the fact and the customers will come. Maybe the days of MSRP are over.
It pains me that my first electric truck might be Made in China.
You can move your reservation to any dealer of your choice. Find one that doesnt charge premium or market adjustment bs. There are plenty of good dealers as well.
First of all ford should go to the Tesla model of sales. All show rooms are owned by ford. I have wanted to buy several trucks and cars dealers wanted 10-30k over msrp. I walk away. Dealers are greedy, salesman are worst. At msrp a dealer makes a great profit especially on full size trucks plus they get a 3% hold back on the cost of the Vecihle they buy.
Any IDIOT that pays over msrp needs to have their heads examined. That is just plain stupid. The day you drive that car or truck off the lot you lose 40-50% of msrp and now you idiots are going to throw another $10-30K on top of that in the trash? ARE YOU STUPID, DOES YOUR MONEY GROW ON TREES?
I talked with the Ford dealer in Lewistown, Montana, about this article. He pulled it up on his computer and laughed. “I don’t have one woman or man in this area who’d pay a ridiculous, fantasy markup. It’ll depreciate like any vehicle, and the owner will be upside down in the loan when it comes time to sell it or trade it in. Send them in here; I’ll take care of all comers and be “Montana Fair” about the transaction”.
Yes, he will.
Go where I go to buy your trucks, Americans: Snowy Mountain Motors in Lewistown, Montana. And no, I don’t work for them, with them, own them, nothing; I’m just a satisfied customer. A recommendation is earned by reputation and integrity. You’ll find both of them there.
I am surprised the attorneys haven’t jumped in with a class action lawsuit against Ford for taking deposits (contract) at a stated price and then trying to assign that contract to a dealer who then wants to modify said contract. I am sure there is some fine print which nobody read to protect Ford, but that would fall under the unfair business practices of most state consumer protection laws.
Went on Ford Lightning website that lists range and charging stations, says there are No charging stations/locations between SW Fl and NW Va. Kind of a waste.
I own a 2011 Ford f250 6/7 engine. have had a lot of trouble with the turbo and the exhaust. The latest turbo put on the engine makes a loud whine for about 5 minutes after a cold start. It quits after the time I said. After leaving my truck at the local Ford dealer for two nights to find the trouble I was told their inspection found nothing wrong. Let it still whines when first started. I have owned a lot of fords as I am 87 and I feel this will be the last Ford I will buy if the service can’t or won’t get a repair right.
what makes you think it shouldn’t whine? Everything that spins tends to whine: turbochargers, super-chargers, hell even alternators and water pumps can whine to some degree and still be operating within limits. I suppose you had them check the exhaust connection too? The exhaust will expand as it gets warmer, which might explain why the whine disappears after a few minutes.
I missed the perfect F150 by 30 minutes!
Someone had taken the rock solid 5 cylinder 300D Mercedes diesel, complete with 4-speed automatic transmission, overhauled them and installed them into a ’96 F150 restored pickup. His kids can will it to his grandchildren. Voila! The Million mile F300D! He even had this model made into Mercedes-looking badges.
It’s important to consider both sides of the profit/loss coin when deciphering corporate financial strategies. While I am not an economist or even a business major, I am a Ford owner born and bred. It is critical to remember that there is another guy standing in line waiting to get on the list if you jump ship and after that another, and another. It is also important to remember that there are going to be all kinds of electric trucks hitting the markets very soon and Ford does and will continue to have the competition to remind it of how important its consumer base is. However, Ford has investors, very important investors that allow it to invest in major and critical research and development strategies that will compete in the future. Those investors want profits and those investors want their own interests looked after. Whether these are individuals like Warren Buffet or Shell Oil, they drive the Ford we all know and love long before you or I ever get into the driver’s seat. A documentary that serves to remind us of this relationship is “Who Killed the Electric Car?”. This is not new, actually, it’s getting rather old. Stand strong and keep your back to the wall.
This is a big problem that has to be resolved as it is having a negative impact on Ford. If a dealer buys a truck for stock, sure price it how you want. But when a customer buys from Ford and then is assigned to a dealer it should be at MSRP not that the dealer can then charge whatever they want.
These ridiculous markup should not be allowed. Ford put a stop to this madness or at least allow customers to switch to another dealer without losing their place in line.
That’s what Autotrader, Car Guru’s, etc, are for. I paid less than sticker for a brand new GT350 a year ago and only had to drive a couple hours to pick it up. The year before that I bought a new Edge ST with the specific color and options I wanted for several thousands less than sticker, an “Impossible thing” according to the lame salesman at my local dealer. This time the vehicle was in the metro area 45-50 minutes from my house and I found it after Googling for about 50 seconds.
If those people are too lazy / not sharp enough to do a few minutes of homework and save thousands there are plenty of greedy dealers waiting.
In my opinion, there are more and probably better options coming up in a few years. Do not rush, prices will come down. Hold on to what you have, screw Ford dealers with the mark up’s. I don’t even pay MSRP, screw any mark up. My opinion.
What really needs to happen is that the consumers don’t buy the vehicles and let them rot on those dealership lots. But unfortunately, someone will pay the price and that validates the dealerships decision to impose it.