Nora Eckert
speaker
116 appearances
2 recordings
1 series
first heard Feb 2022
last heard Feb 2022
Nora Eckert’s voice in public audio — every appearance, attributed to the second.
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Appearances
Right now, that percentage is about 80% of new vehicles sold are over the sticker price.
Ford specifically has talked about this phenomenon.
Yeah, it's a really striking change, JR.
And it's escalated through the second half of the year.
So to think that this time last year in 2021, we were at 2% and now we're at 80%.
It's an incredible increase.
So Ford specifically has addressed this trend and said,
Chief Executive Jim Farley said that about 10% of their dealerships in the US, and they have about 3,000 dealerships, are charging above sticker price.
And he's issued a warning to those dealers that if they're doing this, if they're charging above sticker price, that Ford could withhold future sought-after models from those dealers.
They can withhold future supplies of these popular new vehicles, such as their
electric vehicle, the F-150 Lightning.
GM has also sent a letter out to dealers warning them that if they charge above MSRP, they could have punitive action taken against them.
You know, whether that's what Ford is doing, like withholding potentially new models or other actions, we're still getting some details on what that will look like on the GM side.
No, there are generally no restrictions on dealers about how far above the sticker price they can push that car.
In a typical market, buyers wouldn't be paying far above sticker price for a vehicle, but because of the incredibly low inventories that we have right now, there are so many people scrambling to find a vehicle that they're willing to pay a little more money for a car than they normally would.
Buyers are outraged and surprised if my inbox is any indication.
I mean, I've just received a flurry of notes from buyers saying, we've tried dealer after dealer, and we're just aghast at what they're charging us.
Some of these buyers are looking for a new car for the first time, but some of them are experienced and think about,
you know, their experiences in dealerships before the pandemic and how they were able to negotiate a deal below sticker price.
All those rules are out the window at this point.
Showing 81–100 of 116 · page 5 of 6
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