The Coolest Ford F-150 Trim Got Slapped With a 20% Price Increase
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There’s bad news for Ford fans. You’re going to see a price increase on the 2021 Ford F-150 Raptor. It’s already one of the more expensive vehicles offered by Ford, so the price hike might turn away some customers from buying the new model.
In fact, the F-150 Supercrew trim is one of the most expensive trucks to insure. You’ll see a lot of automakers increasing the prices of their vehicles to make up for losses due to the microchip shortage.
A lot of car prices are on the rise | Twenty20
The 2021 Ford F-150 Raptor will see a significant price bump
From the price of gas to the cost of used cars, it seems like vehicles are getting more expensive to own in general. The Ford F-150 is no exception. According to Kelley Blue Book (KBB), consumers can expect to pay 20% more for the 2021 model compared to the 2020 one.
The 2020 F-150 Raptor had a starting cost of $53,455. For 2021, the price is allegedly increasing to $64,145. This number was leaked on an online forum and confirmed by a Ford spokesperson according to KBB.
For those who may be wondering if this is for a higher trim level, it’s not. You’ll be paying over $10,000 more for the 2021 model than you did for the 2020.
The Ford F-150 Raptor will have more features
While the news of the price hike is far from pleasing, there is some good news to share. The 2021 Ford F-150 Raptor is an all new model, so you’ll be getting more features than you did for the 2020 model.
There are several notable changes that come with the price markup. The new F-150 Raptor comes with 5-link suspension, and Fox Live Valve internal-bypass shocks to double the noise reduction of previous Raptors. 37-inch wheels are available with upgraded shocks that double the power of the old set.
While the Raptor will cost a substantial amount more, it’s actually been sold at much higher prices in the past, as mentioned by KBB. The Raptor is a specialty model which makes it prone to dealer markups. But new updates aren’t the only reason for the price increase.
The cost of buying a new vehicle is on the rise
The microchip shortages have been causing even higher dealer markups. Ford is typically known for having more affordable prices. However, because of low supply as a result of the shortages, a lot of car manufacturers haven’t been able to meet demand. This has led to increased car prices.
Insider reported that, “Ford plans to temporarily shut eight factories due to a global shortage of semiconductor chips, according to an internal memo viewed by CNBC.” The news site added that, “Ford said the chip shortage would cost the automaker about $2.5 billion this year.”
A low inventory of cars means price increases for the supply that’s available. Ford is trying to make higher profits to cover the upcoming losses it’s going to face. It’s costly to buy a new vehicle in the current market.
On top of that, truck insurance can get expensive. If you want to make sure you’re not overpaying for your Ford F-150 Raptor, or any other vehicle, let Jerry help.
The free app will find you the best insurance rates, so you have the best price for the coverage you need. This way you can just focus on what truck you want to buy.