New Car Prices Are Getting Out Of Hand

Industry News / Comments

Here are some of the most expensive premiums.

Times are tough for manufacturers and consumers alike. The current Covid-19 crisis has not only affected the production of vehicles but has put a damper on the global economy, thus affecting the appetite of consumers for new cars. To top it all off, the world is currently experiencing an unprecedented shortage of semiconductor chips which has placed even further strain on the supply of most popular models in the US. Vehicles such as the Ford F-150 and the Chevrolet Silverado 2500HD, which have always been freely available, are now selling at well over sticker price.

2021 Ford F-150 Front Angle View CarBuzz
2021 Ford F-150 Side Badge CarBuzz
2021 Ford F-150 Dashboard CarBuzz
2021 Ford F-150 Engine CarBuzz

Local pricing may differ, but popular cars are selling for 13% over MSRP, including the Ford Escape, Ford Mustang Mach-E, Kia Seltos, and Nissan Kicks. The Ford F-150, currently selling for between $29,290 and $74,600 has been seen going for 13% over MSRP as well. The 2021 Chevrolet Tahoe too, which usually sells for between $48,300 and $72,700 can also be seen changing hands at 13% more than asking. The 2021 Ford EcoSport, which sells for between $20,395 and $28,345 is a hard pill to swallow, as is the $20,500 Hyundai Kona. Both of which are commanding an extra 14%,

2020-2021 Chevrolet Silverado 2500HD Front Angle View Chevrolet
2020-2021 Chevrolet Silverado 2500HD Rear Angle View Chevrolet
2020-2021 Chevrolet Silverado 2500HD Front Angle View Chevrolet
2020-2021 Chevrolet Silverado 2500HD Dashboard Chevrolet
9 Best Features Of The Ford F-150 Lightning
9 Best Features Of The Ford F-150 Lightning
Callaway Cars Greatest Hits
Callaway Cars Greatest Hits

But things get worse: The 2021 Chevrolet Silverado 2500HD can command a premium of 15% these days, and the 2021 Ram 2500 sees that figure grow to 17%. A large number of Kia vehicles have made the list, and the worst of the bunch is the Kia Telluride which usually costs between $32,190 and $44,390. This popular Korean SUV has been seen selling for almost 20% over MSRP.

If you were looking for a new car, hopefully you can hold off for six months until some of these shortages ease up. If you can stand a used car, you might be able to wait a little less time, as they're trading for more money than expected right now too.

2020-2021 Kia Telluride Front Angle View CarBuzz
2020-2021 Kia Telluride Front View CarBuzz
2020-2021 Kia Telluride Central Console CarBuzz
2020-2021 Kia Telluride Egine Bay CarBuzz
Source Credits: Consumer Reports

Join The Discussion

Gallery

2021 Ford F-150 Front Angle View
2020-2021 Chevrolet Silverado 2500HD Front Angle View
2020-2021 Chevrolet Silverado 2500HD Rear Angle View
2020-2021 Chevrolet Silverado 2500HD Front Angle View
2020-2021 Kia Telluride Front Angle View
12
Photos
Back
To Top