SALT LAKE CITY — There is no doubt that car buying these days is putting extra pressure on the wallets of consumers as supply chain problems have decreased inventory at most car dealers.
In what is now a seller's market, dealers are taking every advantage to increase profits. That includes marking up the price of vehicles and making sure most buyers pay the sticker price, almost unheard of just five years ago.
A new study from iSeecars.com shows car dealers in Salt Lake City are hiking the price of cars up by an astounding 9.5%, or about $3,600 above the Manufacturer’s Suggested Retail Price.
But when it comes to which cars and trucks are really hurting a Salt Lake City buyer's bank account, there are a chosen few where the markups are truly incredible.
Here are the largest markups on new vehicles in Salt Lake City:
- FORD BRONCO - 25.2% above MSRP ($9,488)
- FORD MUSTANG - 23.5% ($8,566)
- FORD F-150 - 22.8% ($11,577)
- FORD MAVERICK - 21.5% ($5,250)
- JEEP WRANGLER UNLIMITED - 21.2% ($9,550)
Across the country, the regular Jeep Wrangler was the vehicle with the highest markup, followed by the Maverick, Porsche Macan, Wrangler Unlimited and Jeep Gladiator.
The San Francisco-area features the highest markups at 12%, or just under $5,000 per vehicle.