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IPFS News Link • Transportation

Auto dealers drive up vehicle prices in the wake of inventory shortages

• by Nolan Barton

The New York Post reported Saturday, February 12, that the All American Ford car dealer in Old Bridge, New Jersey was selling a 2021 Ford Bronco for $49,855. The MSRP was $34,855, meaning the car dealer was upcharging with a "market adjustment" of $15,000, or 43 percent. It was also selling an olive green 2021 Ford Bronco for $62,970. That model had an MSRP of $37,790, according to the report.

"We are going to be like Cuba soon," an All American Ford customer told the Post. "No new cars and we'll all be driving '57 Chevys."

A sales manager at All American Ford told the Post that the price increases were simply a necessary reaction to severe shortages. "We normally have over 100 Ford F-150s on the lot," the manager said. "Right now we have only five." (Related: Ford expects car production to SHRINK IN HALF during the second quarter due to semiconductor chip shortage.)