General

Ford, GM raise truck prices as they battle dealer price hikes

Ford, GM raise truck prices as they battle dealer price hikes

Andi HedrickCar and driver

  • Ford is dropping the 100A base package from the F-150 and making the 101A equipment package standard, raising the base price of the lowest XL trim. Higher trim levels also see major price increases due to similar trim changes.
  • The 2022 Chevy Silverado 1500 has also seen three price increases this year, according to a GM Authority report.
  • These MSRP increases are causing a headache for shoppers in an inflationary market; meanwhile, the manufacturers are publicly fighting with their dealers over price gouging on popular models.

    While Ford and GM are working hard to curb the price hikes of popular models by dealers, both companies are actively raising the prices of their most popular trucks, the Ford F-150 and Chevrolet Silverado 1500. Both models have steadily risen above what common for typical model year modifications.

    For 2023, the cheapest F-150 you can buy is $35,880, while the cheapest Silverado is $35,845; for the 2021 model year, the cheapest F-150 was $30,895 and a base Silverado was available for less than $30,000. Between 2018 and 2021, the base price of the F-150 increased by an average of $593. Since then, the base price of the F-150 has increased by more than $2,000 each in the past two years.

    The increases aren’t just for the cheapest models either. Higher-end F-150 models like the Raptor and Limited are also on the rise. The base price of the Raptor will increase by $5220 in 2023, while the Limited will rise $6285. The price for our favorite trim, the Lariat, swells up $7580 from 2022 through the 2023 model year. Like the Fords, the top-end Chevys get big bumps. The Silverado High Country is up $4250, while the off-road ZR2 is up $4800.

    There are several reasons for these price jumps. Ford attached to CD that it is dropping the lowest equipment group available for some of the available trucks in the 2023 F-150 range, as first reported by Ford Authority. The XL’s 100A package is gone and the 101A equipment package now serves as the basis for this lowest trim level, at a premium of $1815. Admittedly, the standard 100A package was remarkably stripped down, as 101A includes basic features such as power windows, power door locks, keyless entry, cruise control and a reverse sensing system. Equipment changes are also being applied to other models, with the Lariat dropping 500A in favor of 501A and the Raptor dropping 800A in favor of 801A. This means that previously optional equipment is now standard, such as an upgraded audio system, additional USB ports and other extras.

    2022 chevrolet silverado 1500 high country

    2022 Chevy Silverado 1500

    Chevrolet

    On Chevy’s part, the Silverado’s price increases can be partly explained by the facelift for 2022. All trim levels have a redesigned front end for 2022, while the LT and higher models get a redesigned interior. The Silverado’s 4.3-liter V-6 engine was also dropped from the lineup for the 2022 model year, leaving the more expensive 2.7-liter turbocharged inline-four as the base engine.

    The Silverado’s destination surcharge has also increased by $100, and Chevy applied several mid-year price increases for the Silverado during the 2022 model year. According to GM Authorityall trims saw price increases of between $800 and $1200 earlier this year, and an additional $1300 was added to each model recently. Looking ahead to the 2023 model entering production later this month, the base price of the Silverado will increase by another $1000.

    With chip shortages, supply chain problems and rising inflation plaguing manufacturers, it’s not exactly a surprise to see rising prices for every consumer product these days. But these rapidly rising suggested retail prices cast a new light on car manufacturers’ public price disputes with dealers. Either way, buyers are still the ones who take the heaviest blow.

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