We're talking upwards of $50,000.
As much as consumers and automakers despise the practice, dealerships across the country continue to take advantage of high demand for certain new vehicles with so-called "market adjustments," aka markups. Ford, for example, recently warned its dealers that it's paying very close attention to them in regards to the F-150 Lightning. Dealers caught marking up the EV truck by significant amounts will see their allocation drastically cut, or eliminated entirely. GMC, perhaps, should seriously consider following Ford's steps.
Per Jalopnik, several GMC Hummer EV Edition 1 buyers are speaking out about unexpected and totally last-minute markups GMC dealers are springing on them when taking delivery. These are people who've been waiting well over a year to get their new Hummer EV. Instead of the $110,295 price they agreed to when placing their order online, they're being asked to fork over more money. I
f they don't agree, many dealers will simply go to the next person on the waitlist, and so forth. One buyer claimed that when he and his wife arrived at Penske Buick GMC in Cerritos, California on March 17, the dealer manager surprised everyone (including the salesperson) with a last-minute $50k markup.
"I was called and informed that the truck had come in," he explained. "I came to the dealership, the salesperson was great. My wife and I test drove the truck. When we sat down to do the paperwork, the manager sprung the markup. The salesperson says he was not aware that they were going to do that. The dealer never stated there would be a markup until that moment." The buyer was told by the manager to "take it or leave."
Before deciding, the guy called GMC's concierge service to see if they could help. They couldn't. The best they did was take his details and open the case. The reservation holder ultimately walked. Unfortunately, there are plenty more situations like this happening everywhere. Another buyer/reservation holder also from California claims they were hit with a $100k markup at South Bay Buick GMC in Torrance.
The buyer fought back and informed the dealer of GM's pricing guarantee. He had this to say: "After I tell him about GM's guarantee and all those public posts about not allowing dealers to markup here we are…calls me back in 5 mins and goes oh it's 50k. 100k if you don't have a reservation and $50k if you do. These guys are a joke."
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