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Chevrolet Dealer With a $90,000 Markup Caves, Promises to Sell Corvette Z06 at MSRP

Another proof of dealer greediness enraged the internet over the weekend. The $90,000 markup on a Chevrolet Z06 started a backlash that prompted the dealer to announce giving up on the markup. Or not.
Chevrolet dealer with a $90,000 markup walks back decision 9 photos
2023 Corvette Non Refundable Dealer Policy2023 Chevrolet Corvette Z062023 Chevrolet Corvette Z062023 Chevrolet Corvette Z062023 Chevrolet Corvette Z062023 Chevrolet Corvette Z062023 Chevrolet Corvette Z062023 Chevrolet Corvette Z06
The photo of a purchase agreement between the Mac Haik Chevrolet dealership in Texas and a customer was shared on social media on Sunday. The terms of the sale include a non-refundable $6,000 deposit and a $90,000 markup with no other explanation. In the days that followed, the agreement passed between different Corvette enthusiast groups and made its way into mainstream media. Although dealer markups are nothing new, this time, the internet reacted vigorously to expose dealerships’ greed.

Unlike before, though, the backlash that ensued gained massive proportions, and the dealer was flush with negative messages. It was probably bad for them because, on Monday, the dealership’s general manager entered crisis management mode. He announced on social media they’ll be giving up the markups for the Z06, including for customers that already placed their orders.

“I understand and agree with how everyone feels. We didn’t intend to cause a problem,” the guy signed Josh Potts wrote in a Facebook message. “We will contact all customers that have ordered the Z06 and lower it to MSRP. We apologize for the trouble.”

This is undoubtedly an unusual outcome for the markup problem that plagues car sales these days. Carmakers have been trying to curb the trend and even threatened the dealerships with punitive measures to force them to obey the rules. This hasn’t been very successful, as the evidence shows. But is this internet bullying really working to make the greedy dealers fall in line with carmakers’ recommendations?

At this stage, it sounds more like wishful thinking. In fact, just one day after Potts sent his apologies, another would-be Chevrolet Corvette Z06 customer chimed in to say he was asked a $50,000 markup from the same dealership. Although this is a more reasonable amount, if we may say so, it shows that nothing really changed. It probably never will as long as production is disconnected from the demand. But since this situation is also beneficial to carmakers, we think the times of sizeable rebates are long gone.



Editor's note: H/T The Drive

 
 
 
 
 

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