The Kia Telluride has been making the news all summer due to the high prices and various markups. Many dealerships have been marking up prices due to the increased demand for the SUV. However, it seems the 2021 Toyota 4Runner might be taking the crown from the Kia Telluride. Dealerships are marking the Toyota SUV up astronomical amounts to recoup some cash after a dismal 2020.
Is the 2021 Toyota 4Runner a good car?
All over the country, car prices have skyrocketed. Some used cars and SUVs cost more used right now than buyers paid for the new vehicles. The Toyota 4Runner happens to be on that list, but that doesn’t mean the price of a new 4Runner hasn’t been impacted. According to Jalopnik, one user on the Toyota 4Runner subreddit found a New York dealership marking up the SUV by quite a bit.
Millennium Toyota in Long Island has a variety of 2021 4Runners available on the website. A few of the vehicles listed say “Call for Price,” probably because of the markups. One user posted photos of an updated sticker price on two 2021 Toyota 4Runners. One of the vehicles, a 2021 Toyota 4Runner TRD Pro, had an initial cost of $52,753. Due to “limited availability,” the dealership added $23,000 to the price. This makes the 4Runner price $75,753.
Another 2021 Toyota 4Runner TRD Pro in the Lunar Rock color had an MSRP of $52,569. The note on the window sticker has “+$30,000” due to limited availability. That brings the price up to $82,569. On the paper, it notes that these prices are the “dealer’s asking price (not the manufacturer’s suggested retail price).”
Is the 2021 Toyota 4Runner TRD Pro worth an extra $30k?
The dealership has some non-TRD Pro models for sale that have not been marked up. According to Good Car Bad Car, Toyota sold about 130,000 4Runners last year. This year so far, just under 70,000 4Runners have sold. In comparison, the Highlander SUV sold 212,276 units in 2021 and 144,380 units in 2021 so far.
Since the market is seriously failing to keep up with the supply part of supply and demand, it isn’t that shocking to see prices go through the roof. Additionally, it wouldn’t be surprising if the dealership raised prices to offer buyers a “deal” to make it seem reasonable.
The Toyota 4Runner is a popular vehicle, and the TRD Pro is an even more popular trim level for the car. However, these prices are bonkers. Toyota has stated in the past that as a company, this kind of egregious markup behavior is discouraged. Things change, though, and that may no longer be the case.
Move over, Telluride. The 4Runner is here
When this happened with the Kia Telluride, the dealership made quite a splash. But what happened after that? The Telluride sold. If someone is in dire need of an SUV and this is the one, someone will come along and buy it. Which only reinforces the ridiculous prices. The 2021 Kia Telluride SX was marked up about $25,000, but someone bought it too.
While the semiconductor chip shortage is slated to cost the industry upwards of $110 billion after all is said and done, that increase is certainly trickling down to consumers. The 2021 Toyota 4Runner has an uncanny ability to not only hold its value well but somehow go up in value when used. It seems that dealerships are trying to take advantage of that, but when will the madness end?