Dealer Demands $100K Markup on 2023 Chevy Corvette Z06
The new Corvette Z06 is pitched as America’s Ferrari—and at least one dealer thinks it should cost as much, too.
Every hotly awaited new car is another chance for dealers with dollar signs in their eyes to plunder the pockets of customers. The 2023 Chevrolet Corvette Z06 is no exception, and one Florida Chevy dealer seems to believe it can get interested buyers to pay what might be more than double the price of a Z06. It's doing so by tacking on $100,000 in markups on reservations for Chevy's homegrown supercar.
In a screenshot of an email posted to Reddit, a salesperson for Dimmitt Chevrolet in Clearwater is depicted apparently responding to a customer inquiry about Z06 reservations. The typo-ridden message indicates Dimmitt demands Z06 customers sign a document pledging to pay what amounts to six figures in installments at various stages of the order process—and it's unclear if any of it is refundable should the buyer need to back out. The payments are broken down into $5,000 to hold the reservation slot, another $20,000 due when it's time to fill out the order, and an additional $75,000 at delivery. According to public-sourced dealer markup tracker Markups.org, that's the highest Z06 markup currently known.
Official pricing for the Z06 has yet to be announced, but a GM official has indicated it could start under $100,000. That suggests the total price for a Z06 at Dimmitt comes in well beyond $180,000, and easily in excess of $200,000 depending on final MSRP and potential options. That's basically doubling the price of what has, historically, not been a limited-production model. Practically every car these days is because of ongoing supply chain problems, but double-or-nothing still stings, especially on a car as expensive as the Z06.
Out of concern that the screencap could be a hoax, I felt it prudent to contact Dimmitt Chevrolet to verify whether the exchange above—and the markup—was real. I both emailed the dealer and called its sales desk, where a receptionist took my name and number, and promised a manager would call back. Neither my call nor email has been returned at the time of publication. Silence is no indication of guilt, but it's not exactly a denial, either.
This behavior may not be uncharacteristic of Dimmitt, though, which one Corvette Forum user reported in March of 2021 to be marking up every C8 in its inventory by $30,000. GM has warned dealers against price-gouging for important products though, with the company's North American President Steve Carlisle issuing a strongly worded letter about the practice, as seen by Corvette Action Center. "GM will be forced to take action if it learns of any unethical sales practices [...] that undermine the integrity that customers expect," Carlisle wrote, referencing passages of GM's dealer agreements that forbid practices "harmful to the reputation of Dealer[s], General Motors, or its Products."
A Chevy spokesperson further explained to me, "The company is trying to make sure that nothing undermines the integrity that customers expect from Chevrolet. Ultimately, we want every customer to have a great experience. The majority of our dealers know this and we want everyone to commit to that."
It seems likely, then, that Dimmitt's in for a stern talking-to from GM. Any dealer that tries to yank customers' chains may only find an unhappy OEM official on the other end.
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