A few days ago we reported an article doing the rounds that appears to show that a dealership in Florida is putting a $100,000 markup on the 2023 Chevrolet Corvette Z06. Turns out the more research we do, the more we find dealerships with huge profit margins. Looks like this letter sent by General Motors of North America President Steve Carlisle to dealerships about markups has been largely ignored.
Carlisle essentially called out the dealerships for “unethical sales practices or brokerage activities that undermine the integrity that customers expect from the Chevrolet, Buick, GMC and Cadillac brands.” As mentioned in the previous article, we actually asked General Motors exactly how the dealership we talked about yesterday was viewed in the context of Carlisle’s letter. Here is the answer :
“You are correct that GM North America President Steve Carlisle recently sent a letter to dealers reminding them that we are all connected and that it is in Chevrolet’s best interest to operate with integrity when he works with clients. We want every customer to have a great experience. The majority of our dealers know this and we want everyone on board.
Also Read: Chevy Dealer Reportedly Asked Giant $100,000 Markup on 2023 Corvette Z06
Of course, that doesn’t seem to have stopped dealers from charging wild markups on the entire General Motors family of brands. This week we found out that Selma Chevy of Selma, Calif., is asking $201,524 for a 2022 Corvette. That’s not a Z06 either, by the way. We’ve included the window sticker below so you can see it has an MSRP of just $101,525.
That’s a whopping $99,999 markup. The dealer justified the markup by saying “The vehicle was a special order for the owner and is a limited edition, less than 1,000 of this particular model were made.” These two dealers are not the only ones involved in this practice either.
The all-new GMC Hummer EV is regularly listed for over $250,000 despite an MSRP of around half that. Reiselman Buick GMC in Springfield, Tennessee told us that they had a Hummer EV Edition 1 and they’re asking for $285,000. Its window sticker is also well below with a total MSRP of $115,139.
We could go on and on about these resellers and others, but the truth is that some people have to be willing to pay those crazy amounts of money. In fact, it’s this willingness and the dealer’s brazen disregard for good faith practices that keeps vehicles like the Hummer and Corvette out of the hands of people who might otherwise have purchased one.
If you’ve been to one of the dealerships mentioned above or another with wild markups, one of the few things you can do is complain directly to GM. When they get enough complaints, automakers get more leverage to step in and do something about it.