At the beginning of the month, YouTuber and car enthusiast Mike Hyssong called out a dealership on his YouTube channel, Street Speed 717, for trying to sell a 2023 C8 Chevrolet Corvette Z06 for $100,000 over MRSP. Three weeks later, another dealer reportedly pulled the same shenanigans. Hyssong didn't waste a breath.
We can't say this enough, selling over MRSP is distasteful. Selling $90,000 over MRSP is like highway robbery.
Taking advantage of consumers by marking up above MSRP during these demand-driven times might bite back at dealerships soon. Some manufacturers have come out and expressed dissatisfaction with dealerships marking up their units above the suggested retail price and, as a result gaining profits by taking advantage of the automobile shortage.
The 2023 Chevrolet Corvette Z06 is one of America's most hyped sports cars. Unfortunately, its release into the market has been riddled with bad news. There's a shortage of cars being produced, and some dealerships are conveniently taking advantage of the market demand.
If you think his previous rant over paying $100,000 over MRSP was outrageous, a recent encounter with a Chevrolet dealership wanted him first to pay a '$6,000 non-refundable deposit.' Hyssong found this amusing, considering it was a Corvette.
"You've got to think. There's no risk to this dealer. It's not a Porsche or a Lamborghini or a McLaren where you can order it like hot pink or something. You know, like purple where they'd be screwed trying to sell the car if you back out," he said.
The YouTuber posted a non-refundable dealer policy document that read a non-refundable fee will be applied as a down payment upon delivery of the 2023 Corvette. The car will be sold for $90,000 over MRSP.
Hyssong makes a valid point. After speccing, government tax, shipping, and miscellaneous charges, you are looking at $300,000. What's shocking is this might be the new norm if OEMs don't intervene.
"150K, I think is reasonable for that car today if that's the actual price. However, 200, like a quarter of a million dollars for a Corvette that ultimately won't be limited production, I don't know," Hyssong ranted.
The Corvette Z06 is indeed a unique sports car from General Motors. Despite having enough to take on the best supercars in the world, the V8-powered 670-horsepower model starts with a relatively affordable retail price.
The recent hikes are not only unfair to consumers but go against what the Corvette has always been to car enthusiasts – an affordable, powerful sports car.
Humphrey is a car enthusiast whose love and passion for automobiles extended into collecting, writing, driving, and working on cars. He got his passion for cars from his Dad, who spent thousands of hours working on his old junky 1970 E20 Toyota Corolla. Years later, he would end up doing the same with a series of lemons he’s owned throughout his adult life. Full profile
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