Ford dealership doubles the price of the F-150 Lightning electric pickup truck
Ford has started delivering the F-150 Lightning electric pickup, but some dealerships are cashing in on demand. One was spotted doubling the price of the electric pickup truck by adding a $69,000 markup.
As we previously reported, Ford has approximately 200,000 reservations for the electric pickup, and its dealers are currently trying to convert those reservations into orders.
While Ford only expects to produce around 40,000 units this year before increasing production to 150,000 units next year, demand for the F-150 Lightning is far beyond what Ford can supply in the near future. .
Some Ford dealerships took advantage of this demand by charging extremely high “market adjustment” prices on top of the manufacturer’s suggested retail price. We’ve already tracked some of these bounties and seen up to $30,000.
But now we’ve seen a list that breaks that record. An F-150 Lightning Forum user found a $69,000 marked up unit at Gary Smith Ford in Fort Walton Beach, Florida:
As you can see, this markup doubles the price of the F150 Lightning electric pickup.
Earlier this year, Ford warned dealers not to engage in these practices, but the automaker has limited power when it comes to controlling dealer price. The automaker can limit the F-150 light allowance, the number of units it delivers to those dealerships, if they mark them up too much.
More recently, Ford also told dealers not to sell F-150 Lightning demo vehicles too quickly or face fines.
CEO Jim Farley went a step further last week and said that Ford could eventually change its distribution model for electric vehicles and aim for uniform pricing everywhere – a model that Tesla pioneered.
It might be difficult to implement this approach since Ford carries the baggage of its giant dealer network, but it seems the markups are getting so bad that they’re a project worth undertaking.
I hope they realize that because those kind of marks are insane. I hope that no one will buy the vehicle at this price.
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