Dealership markups have always existed, but they’ve flourished recently thanks to the chip crisis and coronavirus pandemic.

As a result, it hasn’t been uncommon to see new vehicles with six-figure market adjustments. Automakers are well aware of the issue and the anger it creates.

The latest company to address this is General Motors as the Corvette Action Center has reportedly obtained a message GM North America President Steve Carlisle sent to dealers. It reads, “We are all very excited about recent GM news and product launches including the Chevrolet Corvette Z06, Chevrolet Silverado EV, GMC Hummer EVs, GMC Sierra EV, and Cadillac Lyriq” but “it has come to our attention that some dealerships have attempted to demand money above and beyond the reservation amounts set in GM’s program rules and/or have requested customers to pay sums far in excess of MSRP in order to purchase or lease a vehicle.”

Read Article

General Motors Warns Dealers About Market Adjustments On New Vehicles

About the Author