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.
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.
Ford spokesman Said Deep told the Washington Post that the company is worried about how the markups would effect their new electric cars and hybrids as they try to compete with Tesla, who leads the market in electric vehicles.
NEWS FLASH....DEALERS DON'T CARE. It's ALL about the $$$$$.
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