what is MSRP of cars? We don’t have this concept in our country so please explain?
Manufacturer’s suggested retail price. It’s what the company that made the car thinks it’s worth.
The standard PS5 with a disc drive costs $499.99. That’s the price the manufacturer will sell them to you but the kid down the road is selling it for $700 because he bought them all. So now you know how much you’re overpaying.
It’s the “official” price set for a model by the manufacturer. The manufacturer may offer incentives and the dealership may discount further, to sell below that price in normal times. Now, which the chip shortage leading to shortages of vehicles to sell, you’re more likely to see dealers mark up above MSRP.
MSRP is the Manufacturers Suggested Retail Price.
It is essentially what a manufacturer tells resellers to sell something for so that they are all selling it for (approximately) the same price.
There’s a lot of factors that determine the MSRP, including what the manufacturer thinks will sell best for most total profit (which is not the same as most units sold, or most profit per unit sold).
Cars are especially linked to an MSRP since most dealers can technically sell for however much they want, but all the large scale advertising (and websites) are handled by the manufacturer. They don’t want customers to see one price online and another price at the dealers.
Manufacturer suggested retail price
It is the price the automaker suggest the dealers can sell the cars for