Blog Posts
Jan 11, 2022
by Jared Rosenholtz Industry News / 4 Comments
Together, they will try to end "market adjustments."
Due to supply chain shortages in the automotive industry, new and used car prices have skyrocketed in the past year and a half. Since most manufacturers are legally prohibited from selling directly to consumers, franchise dealerships are taking advantage of the situation by charging "market adjustments" often adding thousands above the MSRP (manufacturer suggested retail price). Some dealerships are still willing to sell cars at sticker price, but finding one requires help.
That's why several would-be Chevrolet and GMC owners have formed a Facebook group in order to avoid paying dealer markups. The group called "Chevrolet Silverado EV/GMC Sierra EV Owners" is attempting to assemble a list of GM dealers in the United States that will promise to sell the 2024 Chevrolet Silverado 1500 EV and 2024 GMC Sierra 1500 EV without a market adjustment.
Reservations are open for the Silverado EV. List us as your dealership and guarantee $2,500 off MSRP. We walk you through the features of the Silverado EV and how to reserve one in the link below.
https://t.co/R7wQQnDk7b
While some dealers try to make a quick buck off an unfortunate situation, others are trying to gain long-term business by treating customers fairly. Donohoo Chevrolet in Alabama, for example, posted an advertisement on Twitter promising to sell the Silverado EV for $2,500 off MSRP if you select it as your dealer during the reservation process. Another Alabama dealer, Buster Miles Chevy, says it will sell the Silverado EV at a 5% discount.
These examples prove if you're willing to make the trip to Alabama, you can get Chevy's hotly anticipated EV truck under MSRP.
The group will update the list as more dealers step forward to honor GM's MSRP, and we're sure a second list will emerge telling prospective owners which ones to avoid.
Ford is already looking to stop dealerships from overcharging customers for its upcoming F-150 Lightning by taking away their allocations and stopping customers from flipping the truck within one year of ownership. Getting a new car at MSRP takes more work now than in a usual year, but if everyone works together against unscrupulous dealerships, maybe we can eliminate market adjustments.
