We’re shocked. Dumbfounded. We can’t believe it. Not at all. Can you believe Ford dealers and private sellers are marking up new 2022 Ford F-150 Lightning trucks to more than $140,000? We can’t either. And it’s not just dealers. Private sellers are spiking the prices, too, at Autotrader.
Hyperbole aside, the new Ford F-150 Lightning is a having a moment. Just days after Ford started delivering the trucks, they’re showing up for more … lots more … than the list price. It makes sense, too, because the F-150 Lighting is sold out.
Ford recently started delivering 2022 F-150 Lighting trucks
Autotrader is now listing an all-black 2022 Ford F-150 Lightning Lariat for $110,000. That, too, is way beyond the list price for a Lariat. The private seller Glenn M. on Autotrader shows the window sticker for the truck. It cost Glenn $80,234.
The site Ford Authority reports that a dealer in Thousand Oaks, Calif., is asking $145,309 for a new F-150 Ford Lightning Platinum. That is about $50,000 more than what the MSRP should be for a truck like that. That dealer isn’t the only one. The site shows examples from dealerships from Wisconsin to California marking up new Lightnings far beyond their list price.
Ford tried to stop insane markups on F-150s and is reportedly fining dealers up to $25,000 for overcharging (pun intended) for a Lightning. But it seems that greedy dealers are taking that into account and charging
The same thing happened to Rivian and GMC Hummer EV trucks
Rivian uses a direct-to-consumer model so there are no dealers to try and spike the price. But private owners sure have. Just days after getting a delivery, a Rivian R1T sold for $138,000 at auction with 103 miles on the batteries.
A GMC Hummer EV Pickup Edition 1, too, recently sold for $227,500 at Cars & Bids. The seller of that truck made a profit of $117,000. The seller can turn around, buy two a new GMC Hummer EVs, and still have money in the bank.
Are owners of these too-hot-to-hold trucks simply flipping these mega trucks for a profit? Maybe. But with increases in value like this, can you blame them?
EV trucks are HOT right now
While used car and truck prices seem to be stabilizing now, hard-to-find EV prices are spiking. We understand. EV trucks like the 2022 F-150 Lightning and Rivian R1T are fast, they’re four-wheel-drive, they look good, and they make sense.
The price spikes aren’t unexpected. At all. Legislation has made it harder and harder to make a powerful car that meets strict emissions and fuel economy standards. Some of the fastest, and quickest, cars and now trucks on the road right now are EVs. The Rivian R1T hits 60 miles per hour in about three seconds. So does the GMC Hummer EV. While the Hummer weighs 9,000 pounds, it has 1,100 horsepower and can tow 8,000 pounds.
EVs are simply making more sense to a lot more people right now.