Through the first half of the year, new vehicle prices finally began to decline following years of increases spurred largely by low supply and high demand. Now that supply chain shortages have begun to ease and automakers like Ford are increasing production of their more popular models, prices are slowly coming back to a more reasonable level, and that trend is expected to continue for the foreseeable future. This is good news for Ford F-150 shoppers, as the PowerBoost hybrid version of the popular pickup was among the top 20 new vehicles priced closest to MSRP early this year, and that trend continued in more recent months, according to iSeeCars.
This time around, the Ford F-150 PowerBoost ranked third on this particular list, as its average list price was actually 0.8 percent or $701 less than its MSRP – $84,146 versus $84,847 – meaning that the hybrid pickup is actually selling for less than sticker price in many cases. This is a stark contrast to the past few years, when pretty much every new vehicle on dealer lots was listed with some sort of markup.
It’s also a pretty big difference compared to the overall market, as the average new vehicle is listed for sale at $46,265, or 8.5 percent over MSRP, which came in at $42,645. This data comes from 13 million new vehicle listings, which also found that the average MSRP for these models increased by 7.4 percent year-over-year from June 2022 to June 2023. “New car prices are holding up surprisingly well given the overriding economic factors impacting consumers today,” said iSeeCars Executive Analyst Karl Brauer. “We’re seeing some slight moderation, but the average new car asking price is still more than eight percent above MSRP, confirming strong ongoing demand for new vehicles.”
“It’s telling that four of the six vehicles priced below MSRP are hybrids or electrics,” Brauer added. “We know the Inflation Reduction Act removed the $7,500 credit for the Ioniq 5 and Ioniq 6 because they aren’t built in the US. This dramatically impacted their sales and, apparently, forced dealers to price them aggressively. And relatively stable gas prices over the past several months has reduced interest and demand for hybrids like the Pacifica and F-150. We’ve seen similar pricing shifts on the used side, with our last used car pricing study showing electric vehicles dropping by 30 percent in value.”
We’ll have more on the F-150 soon, so be sure and subscribe to Ford Authority for the latest Ford F-Series news, Ford F-150 news, and non-stop Ford news coverage.
Comment
The powerboost motor is actually pretty nice. It’s worth the upgrade over the Ecoboost from a drivability standpoint alone.
I think the motor isn’t why the vehicles are sitting, it’s that the powerboost tends.to come on higher trim trucks that have been wrecked with option deletes. You spend 80k on a platinum and they’ve deleted the heated steering wheel and massage seats. So why buy that vs a 70k lariat but that also has the heated steering wheel deleted. That’s a lot of money to not get some low dollar options that competitors have.
These trucks are priced lower because they’re sitting, which is a result of high prices, high interest rates, and feature removal.