Two major U.S. automakers are calling out car dealers for allegedly jacking up prices beyond sticker value and ripping off customers.
Ford and General Motors warned dealers to stop exploiting supply chain shortages by setting prices above the manufacturers’ suggested retail prices, or MSRP.
“We have very good knowledge of who they are,” Ford CEO Jim Farley said while unveiling the company’s latest quarterly results.
Ford estimates that around 10% of dealers are overcharging.