Shots Fired! GM North American President Steve Carlisle Warns Dealers Against Market Adjustments on Z06

By
Keith Cornett
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Shots Fired! GM North American President Steve Carlisle Warns Dealers Against Market Adjustments on Z06


The C8 Corvette Stingray is in its third model year and demand is showing no sign of dropping off. Now with the highly-anticipated 2023 Corvette Z06 right around the corner, we’ve become very concerned about how some Chevrolet dealers are looking at the new American sports car as a cash cow with plans to generate as much profit as possible above and beyond the Corvette’s Manufacturer’s Suggested Retail Pricing (MSRP) at the expense of Corvette buyers.

As more and more stories about dealer malfeasance come to light that includes everything from demanding thousands of dollars in Market Adjustments after the car arrives to intentionally screwing up orders so that customers walk away from the deal, it’s become apparent to GM that it really needs to start policing their dealers better when it comes to selling these in-demand vehicles. And it is not just the C8 Corvette that dealers are targeting for huge price increases. We also have the upcoming Silverado EV, the GMC Hummer EV, and the Cadillac LYRIQ which have also garnered much interest from consumers.

We’ve already heard about Chevy’s new plan for allocations and it’s still something we’ll have to wait to see if by moving to an Average Daily Supply model will nudge dealers to stay with pricing the cars at MSRP. Not waiting around is GM’s North American President Steve Carlisle who fired this recent warning shot by telling dealers straight up that they risk having their vehicle allocation redirected to other dealers who aren’t being bad actors in the new car sales process.

2021 Stingray with a $25,000 Market Adjustment


Dear GM Dealership Team,

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. At the same time, we have both been working hard to meet customer demand in a time of constrained supply of inventory due to the global industry-wide semi-conductor shortage.

Unfortunately, it has come to our attention that in connection with some of these announcements and launches, a small number of Dealers have engaged in practices that do not support a positive sales experience for our customers. This puts our collective interests at risk and generates negative press that reflect poorly on GM’s brands and your dealerships. Specifically, 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.

First, I want to remind you that GM dealers are obligated to ethically and lawfully sell GM Products, as stated in Article 5 of the Dealer Sales and Service Agreement:

“Dealer agrees to effectively, ethically and lawfully sell and promote the purchase, lease and use of Products by consumers…”

“Dealer agrees to advertise and conduct promotional activities that are lawful and enhance the reputation of Dealer, General Motors and its Products. Dealer will not advertise or conduct promotional activities in a misleading or unethical manner, or that is harmful to the reputation of Dealer, General Motors, or its Products.”

Providing customers misinformation about additional sums being necessary for a customer to keep a reservation, is just one example of a tactic that reflects poorly on all of us.

Secondly, we have been advised that brokers are promoting new GM vehicle allocation. While the majority of GM Dealers do not support such behavior, a small number of Dealers still continue to work with brokers despite the following reminders that this is a direct breach of the GM DSSA: Bulletin #20-06 “Transactional Integrity and GM Export Policy” dated July 1, 2020, and Bulletin #21-17 “Sale for Resale or Export” dated November 22, 2021. As stated in Article 5 of the Dealer Sales and Service Agreement: “Dealer agrees that it will not sell new Motor Vehicles for resale” and “Dealer is not authorized . . . to . . . sell Motor Vehicles to persons or parties (or their agents) engaged in the business of reselling, brokering (including but not limited to buying services) or wholesaling of Motor Vehicles.”

GM will be forced to take action if it learns of any unethical sales practices or brokering activities that undermine the integrity that customers expect from the Chevrolet, Buick, GMC, and Cadillac brands. For the small minority of bad actors that are engaging in the conduct identified above, this letter serves as notice that GM reserves the right to redirect your vehicle allocation or take other recourse prescribed by the Dealer Sales and Service Agreement.

If you have any questions or comments, please reach out to your Zone Manager.

Regards,

Steve Carlisle
President GM North America


For the record, this was a way better response to dealers than what we saw from Chevrolet’s Director of Car and Crossover Marketing, Tony Johnson who told us GM wasn’t too concerned about Corvette dealer markups a year ago. GM should rightly be concerned especially when the C8 Corvette is bringing in many customers who are buying from Chevrolet/GM for the first time ever. You only get one shot to make a good first impression!


Source:
General Motors via Corvette Action Center

Related:
[VIDEO] Speed Phenom Goes Hunting for a C8 Z06 List in Los Angeles
Rick Hendrick, Call Your Office…
General Motors Isn’t Too Concerned About Corvette Dealer Markups

 



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79 COMMENTS

  1. Wow – Look who’s getting all moral and ethical about dealer markups all of a sudden. Is this the same GM that watched some dealers add $20k to $50k to models like the Ron Fellows Z06 and a half dozen other releases? I love situational ethics. I read what GM is saying, but I’ll watch what they actually do more carefully.

  3. Adhering to Market Supply and Demand, especially in severe shifts like the current situation, is not illegal, unethical, or unwarranted. Dealers are having to compensate for lots volume sales of inventory by trying to sell high-demand cars for adjusted increased values. Ferrari dealers have done this forever, as have any other dealers of in-demand cars or other premium goods and services.

    Somebody is going to mark up ZO6s somehow, and you’re a little late to the party GM. Dealers have been selling the C8s at huge premiums since they were introduced, just like they’ve been doing for years and years and years. Stop playing an ethics card you don’t have. GM has never been a shining paragon of virtue to be lecturing others on ethicity. Just build good (and better) vehicles. Stop trying to police the free market and be a supplier for demand.

    You’ve done nothing for the industry or consumers, Carlisle. Don’t try to start now, lap dog boy.

  4. Dealers that charge extract to make Customers out of the Great American Sports Car C8, Z06 or any other model is violating the customer right to buy anew Corvette as many time as they choose to introduce better C8s and continue customer confidence for years. Violate Customer Trust and you sell One Corvette over priced. Keep the trust and you sell them the next five Chevrolets they buy and sell all their trade ins to new customers. Build Trust in the Market!

  7. I just emailed Mr. Carlisle and thanked him for his letter and pointed out that my local dealer is charging 25K over MSRP and would he please allocate this dealers future corvettes to someone committed to MSRP!
    (preferably Criswell – where I’m on the Z06 list with Mike).

  8. A bit late to the game, what bunker has Steve Carlisle been hiding in the last few years. Want to make a real difference, order dealers to refund the gross overcharging if they want more vehicles.

  9. If you are dumb enough to pay “market adjustment”, then you have proved P.T. Barnum correct once again.

  11. Well put, Chazoo. The dealers advertised on this site are not the only ones selling at MSRP. Do your due diligence.

    Any dealer who pulls this crap don’t deserve to be in business, but, as has been stated above, as long as customers are willing to fall for it, things won’t change.

  12. If GM clamps down on dealerships adding charges to or otherwise selling Z06s above MSRP then they should also be contractually restricting each buyer’s ability to resell their new Z06 for a reasonable period of time (similar to what I believe Ford did for the GTs). Otherwise people who actually want to own and enjoy a new Z06 will either be competing with a long line of flippers to get a reservation, or paying through the nose to buy one from a flipper, instead of paying through the nose to buy one from a dealership.

  13. This entire pricing problem can be eliminated by the customer *demanding* a signed Offer to Purchase at time of agreement/order. Dealers here in michigan will fight you rather than sign a purchase agreement. If everyone wants a leg to stand on make it a legal one. If GM *really* wants to do something reinforce purchase agreements signed by both parties!!

  14. Well, It’s about damn time!
    Mr. Steve Carlisle, Ms. Mary Barra and Mr. Harlan Charles need to pay a visit to a local Scottsdale, AZ Chevrolet dealer next week when they attend the Barrett-Jackson extravaganza, starting Saturday, in town here to sell Mr. Rick Hendrick his very own, first assembled for sale, 2023 Corvette Z06 for six to ten million NASCAR dollars or possibly more of his precious NASCAR sponsor money.

    At Van Chevrolet in north Scottsdale, the number 13th Corvette dealer in the USA with a whopping 178 new Corvettes sold to ignorant, old fat bastards that have way more money than brains – is the worst dealer to buy a new or older Corvette in all of Arizona.

    Along with Midway Chevrolet in north Phoenix, these 2 bad news Chevy dealers help to keep the best national Corvette dealers:
    1 CIOCCA/KERBECK ATLANTIC CITY NJ 1481
    2 MACMULKIN CHEVROLET CADILLAC NASHUA NH 1160
    3 CRISWELL/MIKE FURMAN GAITHERSBURG MD 583
    4 BOMNIN CHEVROLET DADELAND MIAMI FL 534
    5 LES STANFORD CHEVROLET CADILLAC INC DEARBORN MI 492
    with plenty of Arizona Corvette buyers going the extra mile with this silly method to purchase a new Corvette at the Chevrolet set MSRP and not add 20 to 30 thousand dollars.

    According to their website today, Van Chevrolet in Scottsdale has ten new 2022 Corvettes in stock for delivery, seven of these 3LT Corvettes have an additional $ 30,000 added to the MSRP, with three remaining 2LT Corvettes having the mandatory $20,000 added profit fee to their MSRP for a grand total of $270,000 of cash added to ten new 2022 Corvettes (an average of $27,000 per new Corvette).

    That’s $270,000 dollars (for just ten new Corvettes, they sold 178 new Corvettes at $27,000 average greedy cash profit or more for about $ 4,806,000 +- this year) in pure cash profit going into the deep pockets of Mr. Matt Cerreta, local Managing Partner of Berkshire-Hathaway Automotive and his boss, Berkshire Hathaway Automotive CEO Jeff Rachor. And probably Mr. Warren Buffet getting his cut of the 4.8 million dollars from this Van Chevy store alone as a nice Christmas gift. These assholes own 13 Chevrolet U.S. dealers all adding this greedy profit to every new Corvette.

    Here’s proof from Van Chevrolet in Scottsdale of their greed –
    List of New / Used Corvettes from the 8th Generation, to sell at $20,000 or $30,000 over Chevrolet’s MSRP for the greedy old fat bastards that own this dealership:
    #1 new Corvette – 2022 CHEVROLET CORVETTE STINGRAY 2LT CONVERTIBLE
    6.2L V8, Red Mist Metallic Tintcoat Exterior / Natural, Napa leather seating surfaces with perfor Interior / Stock #: 220623
    DEALER ORDERED Mileage: 4 miles
    MSRP: $92,900
    Addendum: $30,000
    New Final Price: $122,900

    #2 new Corvette – 2022 CHEVROLET CORVETTE STINGRAY 3LT CONVERTIBLE
    6.2L V8, Hypersonic Gray Metallic Exterior / Jet Black, Napa leather seating surfaces with perf Interior / Stock #: 220624
    DEALER ORDERED
    Mileage: miles
    MSRP: $96,620
    Addendum: $30,000
    Price: $126,620

    #3 new Corvette – 2022 CHEVROLET CORVETTE STINGRAY 3LT CONVERTIBLE
    6.2L V8 – Ceramic Matrix Gray Metallic Exterior, Jet Black, Napa leather seating surfaces with perf Interior Stock #: 220629
    DEALER ORDERED
    Mileage: miles
    MSRP: $96,725
    Addendum: $30,000
    Price: $126,725

    #4 new Corvette – 2022 CHEVROLET CORVETTE STINGRAY 3LT COUPE
    6.2L V8 – Elkhart Lake Blue Metallic Exterior, Natural Dipped, Napa leather seating surfaces with Interior Stock #: 220633
    DEALER ORDERED
    Mileage: 3 miles
    MSRP: $88,455
    Addendum: $30,000
    Price: $118,455

    #5 new Corvette – 2022 CHEVROLET CORVETTE STINGRAY 3LT COUPE
    6.2L V8 – Torch Red Exterior, Jet Black, Napa leather seating surfaces with perf Interior
    Stock #: 220632
    DEALER ORDERED
    Mileage: 3 miles
    MSRP: $90,000
    Addendum: $30,000
    Price: $120,000

    #6 new Corvette – 2022 CHEVROLET CORVETTE STINGRAY 3LT COUPE
    6.2L V8, Arctic White Exterior, Natural Dipped, Napa leather seating surfaces with Interior
    DEALER ORDERED
    Mileage: miles
    MSRP: $89,865
    Addendum: $30,000
    Price: $119,865

    #7 new Corvette – 2022 CHEVROLET CORVETTE STINGRAY 3LT CONVERTIBLE
    6.2L V8, Hypersonic Gray Metallic Exterior, Gray Interior
    Stock #: 220599
    DEALER ORDERED
    Mileage: miles
    MSRP: $93,320
    Addendum: $30,000
    Price: $123,320

    #8 new Corvette – 2022 CHEVROLET CORVETTE STINGRAY 2LT COUPE
    6.2L V8, Rapid Blue Exterior, Gray Interior
    Stock #: N5109652
    AVAILABLE IN EXTENDED INVENTORY
    Mileage: 10 miles
    MSRP: $84,180
    Addendum: $20,000
    Price: $104,180

    #9 new Corvette – 2022 CHEVROLET CORVETTE STINGRAY 3LT CONVERTIBLE
    6.2L V8, Black Exterior, Jet Black, Napa leather seating surfaces with perf Interior
    Stock #: N5109291
    AVAILABLE IN EXTENDED INVENTORY
    Mileage: 7 miles
    MSRP: $96,625
    Addendum: $20,000
    Price: $116,625

    #10 new Corvette – 2022 CHEVROLET CORVETTE STINGRAY 3LT CONVERTIBLE
    6.2L V8, Caffeine Metallic Exterior, Natural Dipped, Napa leather seating surfaces with Interior
    Stock #: N5109457
    AVAILABLE IN EXTENDED INVENTORY
    Mileage: 5 miles
    MSRP: $95,235
    Addendum: $20,000
    Price: $115,235

    #1 USED Corvette – 2022 CHEVROLETCORVETTE STINGRAY COUPE
    Mileage: 278 miles
    Black Exterior, Adrenaline Red Interior
    Stock #: P24473
    IN STOCK
    Price: Please Call

    #2 USED Corvette – 2022 CHEVROLET CORVETTE STINGRAY COUPE
    Mileage: 137 miles
    Arctic White Exterior, Natural Interior
    Stock #: P24493
    IN STOCK
    Price: Please Call

    #3 USED Corvette – 2020 CHEVROLET CORVETTE STINGRAY COUPE
    Mileage: 29,805 miles
    Black Exterior, Jet Black Interior
    Stock #: P24496
    IN STOCK
    Price: Please Call

    #4 USED Corvette – 2020 CHEVROLET CORVETTE STINGRAY COUPE
    Mileage: 4,850 miles
    Rapid Blue Exterior, Tension/Twilight Blue Dipped Interior
    Stock #: 212841A
    IN STOCK
    Price: Please Call

    Mr. Steve Carlisle, Chevy main dude, needs to grow a pair and really enforce these mentioned Chevy dealer rules as you can see Van Chevrolet and Berkshire Hathaway Automotive does not give a flip about selling new Corvettes with a honest, fair and supposedly required method MSRP.

    The funny thing about this scenario, no Porsche, no BMW, no Mercedes nor other so-called new mid-engine Corvette competitor sells you their new sports car for MSRP, then adds $20,000 or $30,000 to the sticker price for just the privilege of you walking into their store.

    This “sell a new Chevy vehicle at MSRP Only” rule enforcement will never be done by any of these three GM puppets as somebody will threaten a lawsuit for free American enterprise of retail sales and Chevrolet will back off and allow all Corvettes to be sold for MSRP plus greedy profits by dealers like all 13 belonging to Berkshire or Hendrick or others.

    All I can say, thank God for the honest guys like CIOCCA and MACMULKIN CHEVROLET and CRISWELL/MIKE FURMAN as they will always be #1, 2 and 3 rated for selling all of their Corvettes at MSRP along with a smile and handshake. I’m buying all of my Corvettes from Mr. Mike Furman and may even buy a new truck or Camaro. Then pay the shipping cost of $2000+ to get it to Scottsdale, isn’t that some stupid crap just to buy a new Vette?

    Please don’t buy any new vehicle for MSRP plus this greedy cash profit dealer addendum – be smart and tell your Chevy boy to flip off.
    Thanks for reading and go Corvettes for all time (no electrics, please).
    Jeff

  15. So GMs official position does a 180……. Right!
    Technically and legally GM by their past performance is precluded and in fact has no grounds to dictate that new Vettes are sold at MSRP. Like dealers have always done in the past they will now roll on all the “poly razz ma tazz”
    I. E. paint protection, carpet protection, tire warranties, service plans, extended warranties etc etc etc…… Let the games begin! ?

  16. My dealer in Novato, Ca. Told me that for them to get a Z06, they must sell 20 Stingrays for every Z06 they want. Therefore, a minimum markup would be $40K and a top of the line might go for over $200K. Way to go GM. I will keep my C7 Z06, thank you.

  18. I went to a Chevrolet Dealer in South Orlando, FL OBT & 417S last week to see how much the new C8 and or the Z06 will cost me and I was very disappointed to hear the sales person telling me that it was going to be $20K more over the MSRP for the C8 and the Z06 $30K more over the MSRP. I said to my self I guess I won’t be able to buy a my dream car. I have never owned a new car but I have been saving for 10 years to be able to put a big down payment so I can afford the monthly payments and insurance. I then asked about the Camaro ZL1 and they also wanted $5K over MSRP I left the dealer very disappointed. I know that there are people that make a lot of money and they are able and willing to pay more. I was very worried about all the rumors that I heard about the over pricing by the dealers because is true and because of that i won’t be able to own the Z06 Corvette that i want. I wish that there was a way to buy a new C8 Z06 by only paying the MSRP price.

  21. I have a C6 Z06 and I have been on the waiting list for a new C8 with Mike Furman and really would like a C8 Z06 but I am not going to buy into all this madness, so I will spec out a nice C8 with Mike when my number comes up and wait 4 year for the Z06 hype to settle down. Bottom line is a regular C8 is probably more car than you will ever need. It is soooo distasteful for the dealerships that jack people with a markup. I hope GM truely puts some muscle behind their words!

  22. Maybe I’m wrong, but I thought his message was in regard to dealership purposely screwing people when they are placing their order. That is unethical. Marking up a resell I don’t think is what they are going to be able to enforce because you can resell anything at whatever price you want.

    But taking an order for $50k and telling me well if you want to finish your purchase I need to pay another $10k for c8 wind insurance plus $15k to deliver it. This is unethical that the company wants to avoid. If the dealerships don’t stop doing this GM will find a dealer who will. I don’t think this is about resell markup.

  23. Why can’t we just buy factory direct ? If dealers are going to be so greedy. I’d fly to the factory to pick it up.

  24. I Made a $1000.00 deposit at Ciocca Corvette in July 21 to purchase a new 22 C8 at MSRP + Shipping ($2000.00+) Now it looks like I might not get to order the 22, instead a 23. But I will wait and wait. I REFUSE TO PAY AN ADENDUM. I LOVE CIOCCA CORVETTE, AND MR. SALVATORE, SALES MGR.

  25. Can’t speak for other dealers, but my Florida dealer sells the C8 at MSRP if the person who originally ordered it takes delivery. Since pre-orders exceed allocation, currently dealers cannot order for their own inventory- only for specific customers. If on the other hand a customer who ordered a C8 decides not to take delivery then the dealer owns it and can put whatever price they want on it- which is the same thing that many customers do after purchasing one. If a person is not willing to wait to get a C8, then they can pay a premium to either the dealer or a customer who bought one. Personally I’ve had mine on order for well over a year and it’ only right that I should be rewarded for my wait by paying only MSRP. I will then keep the car until my Z06 becomes available.

  26. It would be nice if Ford would step up and do the same thing. 30,000.00 mark up on GT 500. WTF. I think all dealers should be made to pay back all the market up money they have made to all the people. And if they don’t there dealer license taken away or no more cars will be delivered.

  27. What about the HD trucks? I’m flying to Detroit to get mine because I can’t find a dealership in TX that will go for under $5,000 over list plus paint protection/GPS locator/whatever BS they can come up with making it $8,000 over list. I refuse to buy any vehicle with dealer mark-up, period. Fortunately I’ve 3 Dealerships in the Detroit area that not only don’t mark up but will give abide by other discounts too!!! $200 flight to Detroit, well worth it!

  28. Gotta say this is an absolute JOKE! Dealers across the Country have maybe 5-6 new cars in stock when working under normal conditions, have 70-100. How does a Sales Staff feed their families? They work tireless hours hoping to make just one sale that will pay they rent and put food on the table. All of you sniveling whiners complaining about paying over MSRP? You don’t deserve to own one! So I say don’t buy one! Most of you are wealthy and don’t have to worry about what a hard working Salesman has to worry about. Instead of being big cry babies? Why not support the kid trying to make a living? You want a Z06? Guess what? You’re going to spend 10k more than what the Manufacturer SUGGESTS the price should be and GOOD for the kid that followed up with you for the year it will take to get the car, who fills it up with gas for you and makes sure it looks perfect for you, who shows you all the features and treats you well. His commission probably makes a difference for his kids and life. Paying a Mark Up on a car like this is EXPECTED and anyone that complains about it on this blog should be ashamed of yourselves and I hope you step aside for those who pay the mark up with a smile! In 2021 Salespeople STARVED because of Covid, chip shortages, tornados and a bunch of shit they had no control of, but they showed up at work every day hoping for miracles. So I say to all of you. Be a miracle for someone! Not a greedy piece of dung complaining about paying over MSRP for one of the hottest sports cars to hit the street in years.

  29. I would like to see state laws changed so people can buy directly from the manufacturers. I hate being forced to buy from a “dealer”.

  30. If Capitalism allows GM to sell cars that Kill their owners with defective ignitions, and GM CEO is paid $25 Million per year to lie about it…

    Why doesn’t Capitalism apply to dealers?

  31. I lost count of how many folks have and continue to pay between $10,000 & $40,000 market adjustments on the newly redesigned 21/22 Cadillac Escalade. One dealer is adding EXACTLY $23,600.00 to every new Escalade regardless of model. There are zero negotiations, and yet dealers smile and behave as if you’ve been given favor. The used car market is already driving the cost of in-demand models up and above the new ones, supported by KBB, – and so consumers are paying hard money regardless of whether the car is new or used. Even after sending that letter, many dealers have decided to do as they please. Imagine banks lending at 130% of value for those who aren’t coming in with extra large down payments. The days of $500, $600, even $700 car payments are OVER. Yesterdays $50,000 car is $65,000 today. The Escalade Sport Platinum fully loaded will set you back $125,000.00 (BEFORE the dealer adds $25,000 “just because,’’ fee.) Modern day payments on these cars ranging between $70,000 & $150,000 – between $1000 – and – $2300 per month, – which is the new ‘’normal.’’ Lord HAV mercy!

  32. Thank you. Could you publish the Dealers that sell at MSRP or better. I would buy from them. David

  33. Dealers are nothing but crooks with the c8. The mark- up from msrp is 10 to 20 grand for the c8. Noe gm says something after all this time. And the idoit consumer still purchased the c8.

  35. GM should implement same practice as Ford did with the GT. Make customers that are able to buy the C8 or Z06 sign a binding contract of no sale for the first two years of ownership. That would stop the owners from flipping their car for quick bucks and free up orders for consumers that want the vehicle for the intended purpose of driving such an amazing automobile.

  36. Where oh where did all good honest American people go ? Wanted to buy new Chevy truck but not right now as not giving extra money to crooked dealership’s.

  37. I hate to bust bubbles. This does not prevent Adm fees for Z06 or any vehicles. Article 5 does not prohibit these, when advertised. The ethical issues are dealers, asking for additional payments and misrepresenting prices. GM is also cracking down on brokers who buy the cars and export the cars.

  38. It’s like this at most dealerships nowadays. They blame not having manufacturer incentives and supply/demand issues. It really is just greed.

  39. @Jeffery Thomas. Well said and thanks for the research. Then I read a article on here that a few people are up set because the union people at Bowling Green want a better contract. They claim its gonna keep them from affording a new Vette.

  40. The markups are all gravy to the dealers who make very little on the average car and rely on Service to bolster the bottom line. High rollers don’t like low margin, so market… ahem, adjustments are how they do bonuses and exorbitant salaries for the dealership owner’s friends and family.

    This letter tells me that the new Z06 will not be a rare beast.

  41. Every single person complaining – wow!
    Do you guys realize that these cars aren’t a need or a necessity.
    You’re not talking about a cheap family car or economical vehicle to go to work, you’re not even talking about a cargo van that people use for business.

    You’re talking about a LUXURY vehicle. Porsche does the same thing and guess what the owners love that they can also sell their vehicles for way more than they paid even after paying a mark up.

    Corvette owners same thing, a used corvette can sell for more than it is for a new one.

    I’ve seen atleast 6 in the last year that were purchased at full retail and later resold by those private owners a year later for $25,0000 more than what they paid for them.

    Each had unique builds that GM offers and guess what, people that have money will pay if they can pay for whatever they want.

    Go try and get a new rolex. You’ll pay much more than it cost new.

    You guys don’t understand this world and thats why you complain about it. GM doesn’t have to do anything except make sure that their other vehicles like the traverse don’t experience things like this.

  43. The pleasure in owning a low mileage C6 Z51 I bought new in 2008 & the Numbers Matching 1963 340Hp stick Split Window beats the crazy waist of money spent. Both of my Corvettes are a Dream come true in fun Summer Weekends. Keep chasing you wallet after the next Model up next. You get what you pay for!

  44. The corvette has always been priced so the average working man/woman can afford it if they stretch a little. Good for you GM. Its nice to see you holding dealers to some standard. These inflated prices have kept numerous people from being able to purchase their dream car.

  45. Sounds like price fixing. GM can make as much as the market will tolerate but the retailer gets stiffed. The dealer gets the head aches when the customer has issues

  47. Mr. Morales, comments regarding MSRP markup! I’m in my middle seventies, I’ve been buying Porsches since 1965’, purchased over twenty Porsche cars, most were street cars and five factory race cars. I’ve have ordered a new GT3 for delivery middle 22’, never paid a premium add on for any Porsche I’ve ever purchased! Same for the Ranger Rovers I’ve purchased!

  48. I wouldn’t buy one of those cars if they were the last cars on earth they are flat out ugly

  50. If the conductor dealerships needs to change people have the power to do that. Just don’t buy from dealers that are charging ridiculous prices for their cars. If that dealer can’t sell cars it won’t stay in business long.

  51. I would first like to say, that it has to be really tough in the market conditions the dealers are left in. You can drive by many lots regardless of the manufacturer and see the once sea of cars have turned into rugby fields. Dealers that used to operate with a healthy staff selling 200 to 300 car a month, now struggling to sell 50. The true problem is the manufacturer creating the mass hysteria of hype, causing people to flood to the dealers that can not provide the product because it isn’t available. I do recall not long ago it was a race to see who was the cheapest price….now it’s who can get me what I want and I will pay for it! Manufacturers created that, not the dealers.

  52. GM huge embarrassment, made in every country other than your own, stealing from Americans and robbing handicapped people without a conscience.
    Richard Chevrolet Cheshire,Ct. 06410

  53. TIME TO GET RID OF DEALERS!!! LET US ORDER AND BUY DIRECTLY FROM MANUFACTURER!!! THIS IS WHY TESLA/RIVIAN MODEL IS THE FUTURE.

  54. I am a true believer that these dealerships are changing well over msrp should be banned by all consumers. I was in the market for a Silverado a year ago and I had many dealerships tacking on 3000.00 to 4000.00 onto the price. My comment to them was we will remember you. If they tack additional prices onto you you need to say the same thing and ban that dealership. It’s not just GM dealerships that are doing it. It’s a lot of other manufacturers dealerships too. REMEMBER WHO THEY ARE!!!!!!

  56. 2 weeks ago after I called GM directly and asked if I could just buy a customer allocation by investing $10,000 into GM and then have it sent directly to a local dealer for an “investor vehicle sales pickup” because the dealership around me are marking up $44,000 MSRP Silverado Customs for $56,000 and $5,000 to order they didn’t know what to say. If they had said yes I have the $10,000 available to do so but I would not be buying a vehicle from them at the marked up prices out of principle because it is a bad customer experience beyond bad customer service. Rydell Chevrolet in Northridge CA, ordered the Colorado ZR2 Bison with the 2.8l Duramax for me at $200 off MSRP because that is the savings Chevrolet gives to dealerships when a customer orders a vehicle from factory. It’s not a steal of a deal but it is in the current market as any additional promotions when I pickup the vehicle that qualifies I will get as well. Rydell Chevrolet also sells nation wide so no matter where you are contact them if you are ordering a vehicle and all your local dealers are shady like mine are.

  58. Don’t buy a car for 2-3 years.
    Never buy a car over MSRP
    Let them come crawling back to us….
    Question, do you really need a Corvette?
    I will never do business with someone selling a car for dealer markup.
    BAD business.
    2nd this is coming out after Ford said the same thing for the Bronco….
    GM/FORD really don’t care.
    If we buy it for that amount next year that’s the new MSRP…..

  59. All these dumb people commenting. Market adjustment just means its what the market reflects in supply and demand creating the market value. There would be a huge waiting list and itBigdjd take much much longer if you even get a car that would create the same problem. People instead of dealers resaling the cars for much more .people are willing to pay a premium to get there car now. I think cars should only be ordered from factory and not count as a allocated car at msrp and not market value.

  60. Now Dodge and Ford need to do the same. Because they are just as out of control for their flagship models, and it appears its much more wide spread in them than it appears in GM. We are watching the end of ICE muscle and sports car production, and it seems dealers are taking advantage of this on top of already intentionally inflating prices on used cars, citing “covid related” market adjustments. Step up boys… GM just showed you up.

  61. Now , i don’t know what to do . What if i decide to sell my 2020 C8 and someone offers me more than i paid , will i be unethical if i sell it ? dang , i don’t want be one of those …. Or , do I … Ain’t no body gonna stop capitalism , but I hope GM stops the mark up , means I pay less but will i pass that savings on ? one moe thang – none of this increases supply , which has not met demand ………thus , buying on the secondary market becomes a option…if ya want one ! in hindsight , I stole mine even w/ the premium . chump change can’t replace the fun of owning & driving one , i have 22K on mine……

  62. Commenting on Bill Ganas’s comment above. He’s right. Chump change can’t replace the fun of owning and driving the new C-8. I’ve had 11 Vettes and NONE come close to being 1/2 as exciting as owning a C8. I raced for 25 years and the C8 is as close to a true “set up for the track race car” as you will ever put on the road for less than $100,000. I’ve got $64,000 in my 2021 and have refused over $90,000. I’ll keep it for 2 years and still make $20,000 on it. LOVE C8’s

  64. Local South Jersey Chevy dealership Medford, doing this not only for Vettes, Camaros, SUV’s … hell even their used cars, and Dodge & Ford trucks !!!
    This is out of control, whether it’s Let’s Go Brandon, or his buddies in ROC cutting back on the chips in new builds … I applaud those above, including the GM exec & commenters that agree with him … as far as you cash-flashing cowards minimizing even the principle, as ‘ chump change ‘ … ‘Let’s Go xxxx ‘ ( fill in your name, asshole ) …

  66. He is very correct. I have a dealership group that I have bought 14 new GM vehicles from. I figured sense I was such a good customer I could get a Z06. My purchases included corvettes. They told me a new Z06 will be at least $50,000 market adjustment. I just ordered a new Porsche 911 GTS at sticker. So it cost GM a sale. I’m over it.

  67. The dealers adding markups don’t give the markup to the salesman like some are saying. The salesman gets a percentage of cash down around 2-5% bonus. The markup over MSRP goes to dealer owner who then can decide, if he wants to, give a bonus to salesman or not. If so, usually 2%. Then whatever trade in value below resale the salesman MAY get another 2% if dealer owner decides to or not. Some salesman work for flat fee like a waiter making $10 an hour plus $200 for every car sale. Any profit
    over MSRP is allocated to managers in form of bonuses each month but majority goes to dealer OWNER. I have friend that works at a large GM dealer in PA.
    No salesman gets markup. No salesman!

  68. Heck just sell some of your funny currency Bitcoin and step up. The problem this country has is that most wealth is created out of thin air and has nothing to do with gains in productivity or price discovery

  69. Should make the dealers pay back the money to the customers that paid over sticker on any
    C-8 CORVETTE THAN WE COULD HEAR THEM CRY !!! THAT WOULD ONLY BE FAIR !!

  70. In New Mexico one of the dealers told me 10k down and is was a 50k mark up for the zo6. I told the forget that.

  72. Steve Carlisle
    President GM North America

    Dear Steve,
    You stated GM will be forced to take action if it learns of any unethical sales practices that undermine the integrity that customers expect from the Chevrolet.

    Sam Pierce Chevy is a bad actor that engaged in the conduct identified above. I want action from GM to contact me and I want my $20,000 back.

    – GM reserves the right to redirect the dealer vehicle allocation or take other recourse prescribed by the Dealer Sales and Service Agreement against Sam Pierce.

    If you have any questions or comments, please reach out to your Zone Manager.
    NOTE: The dealer will NOT provide the Zone Managers name. Who is the Zone Manager in Indiana?

    Sam Pierce and his employees; of Sam Pierce Chevrolet lied to me and my son on January 10, 2020, when we ordered our C8, up until September 21, 2021 (telling us we were obtaining our C8 at MSRP). MSRP is all they ever stated. Then when my C8 arrived (20 months later) Sam Pierce increased my price $20,000. I have known Sam Pierce all my life and I trusted him and valued our friendship as muscle car fans, and he LIED to me. Sam Pierce acted in an unethical sales practice when he added $20,000 over my MSRP. You will not find integrity and trust at Sam Pierce Chevrolet in Daleville, Indiana.

    Steve Carlisle, I want to hear from a Zone Manager or someone at Chevrolet. On Tuesday, January 18, 2022, I sent you (Steve Carlisle) an email the moment I read your document (dated November 22, 2021).
    What Sam Pierce did to me was unethical and totally wrong.

    PS – My father retired from GM’s Guide plastics parts plant after 42 years, All of my relatives including grandparents worked at GM parts plants in Anderson and Marion, Indiana. All we drive is GM Products. I personally have owned hundreds of GM products and I am loyal to the GM Chevrolet Brand as I have owned 27 Corvettes. I currently have several (1969 Camaro SS, 1976 TRANS AM 455 cu in 4-speed, 1984 Chevy Silverado C10, GMC Terrian, Cadillac ESV, and I have enjoyed 2020 C8, 2021 C8 & 2022 C8.) I am a GM Brand Fan!

    GM (Steve Carlisle or Mary Barra),
    Did I deserve to be price gouged $20,000 by Sam Pierce when am buying new GM cars every year? Tomorrow I am going to a dealer to trade my Cadillac ESV for another one.

    I LOVE MY C8! GM did a great job on everything on the C8. KEEP UP THE GREAT WORK!

    It’s one thing to tell a customer up front that the price has a market adjustment, but to add $20k after 20 months of waiting and always telling a customer MSRP, it was very wrong.

    Thank you,
    Jay Shellabarger – a GM loyal BRAND Customer that buys only new GM products.

  73. The Stealerships that are over charging gulible/poser customers should lose their franchise rights. Will GM hold true to their threat? Depends on what the stock holders demand.
    The obvious comments from salesmen supporting the excessive markups are pathetic attempts to justify their greed.

  74. @ Deviante. Your comment is a pathetic attempt to justify consumer greed. You’ve likely bought at well under MSRP and gotten discounts on cars for many years. You’ve haggled and negotiated price every time you’ve gone to a “Stealer”ship because you’re the one trying to steal as much profit for yourself as a discount to brag about.

    There are premium products of all kinds in the current market that are selling for huge markups over their MSRPs, it’s not just cars and trucks. Pricing is always about supply and demand, and something is worth what someone is willing to pay for it.

    I’m not a dealer. I’ve never been a dealer. I will never be a dealer. But I’m an informed and rational consumer who knows that a free market economy is driven by supply and demand. The manufacturers need to concern themselves with producing sufficient supply for demand, and that will be their role in bringing prices down.

    Listening to all the whiners and crybabies is ridiculous, and it’s just because they can’t go into the dealers and beat them down into the dirt to get every dollar of profit like consumers have done for decades to get their discounts. It’s a 2-way street. Car dealers have historically been unscrupulous in their methods and car-buying consumers have historically been invoice-price seekers. Consumers only complain about MSRP when dealers are asking over, not under. No consumer has ever gone in and demanded MSRP if the market was lower for that item.

    There are at least as many customers who are perpetual thieves as their are dealerships. Stop your whining and learn Economics 101 about supply and demand in the free market economy.

  75. Blake,
    Apparently, you never advanced past a Freshman 100 level course. For some reason you believe that a ‘free market economy’ and greed coincide simultaneously. Reread your diatribe and then look up the definition of whining. Hopefully, you’ll see yourself.

  76. Deviant… The greed is yours. You’ve always negotiated for the absolute lowest possible price on every car you’ve ever bought, you hypocritical cretin. You’re far worse than merely a whiner. You’re an irrational moron who would buy anything for as little as you could pay and sell it for as much as possible. You’re worse than these dealers. At least they make no bones about being after profit. Your virtue signaling is to hide that your greed is far greater than any dealer. If you had a C8, the whole world knows you wouldn’t sell it for $20k less than those who are marking them up $20k. STFU and GTFOH, you discount chasing liar.

  79. Who verified this? I don’t see a email communication, no audio recording, nothing to verify this supposed communication.

    All I see here is “take me at my word, this is what Steve said regarding Market Value Adjustments” and it seems to just be adding turbulence towards an already rough situation surrounding vehicles sitting chipless at GM lots.

    This article is complete BULLSH!T until I see something like an authenticated email or other tangible evidence to back this article.

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