We told you it would happen. Now that the 2022 Ford F-150 Lightning EV trucks are sold out, it’s time to order a 2023 model before it also sells out. So how do some dealerships help buyers do this? By setting huge markups on the MSRP. Some have so far hit the $150,000 mark. Where will it stop?
We don’t know the answer to that. What we do know is that it appears Ford is fining dealerships up to $25,000 for violating Ford’s edict that it wants all dealerships to sell Lightnings at MSRP. But with markups showing prices of $150,000 and possibly more, the profit is more than enough to cover the fine, and always walks away with $20,000 to $40,000 more.
So which dealerships have those crazy Lightning margins?
Check around, you’ll find that many dealers have added markups well above the MSRP. Take DCH Ford in Thousand Oaks, CA. Thousand Oaks is quite affluent, so its citizens can afford the markup that DCH charges. A 2022 F-150 Lightning Platinum is advertised for $145,309. Calculating it, the MSRP is around $95,000. We don’t know the exact amount because the dealership doesn’t advertise the MSRP, as you’d expect.
Doing the math, DCH Ford will see a good customer pay $50,000 more than the MSRP. Such a deal! But other dealerships aren’t shy about advertising those silly MSRP numbers. In Green Bay, Wis., Dorsch Ford listed a Lightning with a list price of $92,569. Dorsch’s price, however, is $132,569.
Lightning dealers are looking to get at least $40,000 above MSRP
As you can see, that’s $40,000 more than the advertised price. Minus a hypothetical $25,000 slap from Ford, Dorsch walks away with $15,000 plus the dealer markup already factored into it. This friendly Ford dealer seems to have some unfriendly markups.
Also in California, Ford Authority reports that Napa Ford has a Platinum Lightning advertised at $133,854. The suggested retail price is $93,854. So another dealer is looking for that $40,000 booyah. Or anticipating the Ford MSRP directive, it looks like Napa will settle for $15,000, plus dealer profit margin.
What can you do there?
What if you want a new Lightning but are bold enough to want it for the MSRP? The obvious course of action is to shop around. Don’t just go to Dorsch or DCH Ford just because they are the nearest dealer to you. Not all Ford dealerships are in an abusive mood. And according to Ford, almost all of its dealerships are as pure as white snow.
The other thing to do, if you can, is wait. Maybe in about a year the prices will have stabilized. Above all, if the dealer lots start piling up with lightning bolts, he won’t want to sit there for long. For them, it’s about moving metal and making money.
At least Ford says it wants the markups to stop after the company had problems launching the Mustang Mach-E and Bronco. GM said the same about its GMC Hummer EV. So suddenly there’s a run on all EV. Apparently it’s the hottest thing on the block right now.
RELATED: Ford Warns Dealers of F-150 Lightning Margin Issue