GM Increases Prices Across the Board With Hikes To Destination Fees
GM has raised prices across the board against a backdrop of high fuel prices and a hungry market for new cars.
General Motors quietly hiked prices for nearly every car across its range, including Cadillac, Chevrolet, and Buick models. The increases aren't surprising in a market still constrained by a lack of supply and with high energy prices affecting the cost of transport.
As reported by GM Authority, the destination freight charge for many of GM's regular-sized vehicles has been hiked up by $200, from $1,195 to $1,395. This change affects the 2022 Chevrolet Camaro, Equinox, Blazer, and Buick Enclave. The Corvette has had its destination fee bumped up by $100 to $1,395 as well. The result is a functional $200 bump to pricing across the range, despite MSRP otherwise remaining the same.
GM's larger vehicles have similarly seen an increase in delivery charges. The Chevrolet Silverado 1500 and Silverado HD have seen a $100 hike to $1,795. Similarly, the Tahoe, Suburban, and Cadillac Escalade, are also subject to the new higher delivery charge.
GM's truck lines are particularly hard hit in this case, with the Silverado 1500 also subject to an $800 increase to base MSRP across the range. It's the third time GM has hiked the price this year, with various models now $,3000 to $3,400 more expensive than the introductory pricing announced in December.
The 2022 Silverado HD has been even harder hit, now recording its fourth price increase since launch. The latest changes add $1,000 to MSRP across the range, in addition to the higher delivery charges. As a guide, pricing for the Silverado HD started at just $36,995 when the 2022 model first hit the order books. The base price now sits at $41,295, a full $4,300 higher over the course of one model year.
Nor have the SUVs been spared. The Tahoe, Suburban have received their third price increase of the model year, with MSRP hiked by $1,500 across the range this time. The Escalade has also been stickered up by $1,500, the second increase for the 2022 model.
Higher destination fees come as little surprise given soaring fuel prices. Similarly, with dealers throwing huge markups on cars, automakers have seen that there is more money to be made. Rising MSRPs helps the car companies get a slice of that action.
Regardless, if you're looking to buy a new GM right now, it's likely you're going to pay more than you would have a month ago.
Got a tip? Let the author know: email@example.com
MORE TO READ
Sticker Shock: Destination Charges Way Up as Car Prices Keep Rising
Delivery fees are another way to keep dollars flowing towards automakers.
GM Hit With Class Action Lawsuit Over Destination Charges
The suit alleges the automaker has padded out delivery charges to make larger profits.