Price Gouging

[tlockhart]

Same tlockhart from the FPace forum? Did you buy a Yukon too? What did you get?

Not me.

I just bought a 21 Yukon Denali - Onyx Black - Premium Package - Rear Media. No sliding console.

 

[Rdr854]

Not me.

I just bought a 21 Yukon Denali - Onyx Black - Premium Package - Rear Media. No sliding console.

If you don’t mind, what was the price in relation to MSRP?

 

[tlockhart]

I paid 100% MSRP down to the cent.

81,385

 

[John Smith 3332]

I stopped by a GMC dealer in Northern Virginia to look at a Yukon XL. The dealer only had Denalis and one AT4. While I understand that there is a shortage of new cars, I thought that a $15,000 market adjustment was ridiculous. I get that dealers are getting short on inventory and that a reduction in incentives and discounts is reasonable based upon supply and demand. But adding $15,000 for the privilege of buying a vehicle is just plain wrong.

As an aside, my Chevy dealer said that OEMs have taken notice that vehicle transaction prices have increased substantially with limited manufacturer incentives and that we should not expect inventory levels to return to the overstocked levels that we have seen for the past 30 years or so. He predicts that there will be more special ordering in the future, which will significantly reduce the need for dealer discounts and manufacturer incentives.

 

[John Smith 3332]

I can see both sides of the price market adjustment. As consumers we feel like we are taken advantage of. As a dealer, they invested in a dealership based on volume to make a profit... so they can stay in business. Not the manufacturer fails to supply enough vehicles so they can make a reasonable profit.

Now they charge market adjustments so they can stay in business or not loose money. I respect that more than forcing me to pay thousands of dollars for a wax job and other add ons

 

[vcode]

I can see both sides of the price market adjustment. As consumers we feel like we are taken advantage of. As a dealer, they invested in a dealership based on volume to make a profit... so they can stay in business. Not the manufacturer fails to supply enough vehicles so they can make a reasonable profit.

Now they charge market adjustments so they can stay in business or not loose money. I respect that more than forcing me to pay thousands of dollars for a wax job and other add ons

Would you go to WalMart and pay $5.99 for a bag of chips stamped $3.99 on the bag? I doubt it. This will bite some dealers in the end and they truly deserve what they get.

 

[Bob2C]

Just now noticed Tedbritt Chevy in Sterling selling the burbs with the RST package 5k above MSRP on their website and I’m sure they will sell all of them.


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[garymyman]

I see this as a new paradigm shift in vehicle purchasing. Just like housing, prices will start at MSRP. There will be no negotiating 5 to 10% off like there was in the past. MSRP will be the sales price and if the vehicle is a hot ticket it will be MSRP plus if you want it. I’ve read that many places, and by a year from now this will be the new normal.

found the salesman.

GMC has $4500 customer cash *right now* on 1500 Sierras. A dealer in my state is giving ~$2k off Yukons. Production numbers will pick up and dealers will have inventory again. There are only so many customers for $70k+ SUV’s.

 

[Summajet]

I noticed same thing here in Richmond VA area. New and used truck prices higher than some other areas. I get there is a production shortage and couple that with high demand with limited inventory prices will continue to rise until supply builds up or consumer demand drops. I do not recall seeing prices for used cars increase as fast as they have. It has never happened that I recall but you will see a correction in the market. Not as bad as the 08 housing issue. I would think it a bubble on new and used car markets is possible or cars will be priced out of affordability. I did find a clean 2005 4x4 1500 crew cab. It took me months to locate a clean / well maintained truck.

 

[BTSRT]

Would you go to WalMart and pay $5.99 for a bag of chips stamped $3.99 on the bag? I doubt it. This will bite some dealers in the end and they truly deserve what they get.

depends on supply.

 

[Yukon21Denali]

Free market, demand and supply... many, like me, would not pay anything over sticker but some others would. Most dealers around me are marking up since demand is so high right now and factory can't keep up.

 

[Chris Wheatley]

I bought my Yukon XL AT4 from Bob Jeannotte GMC in the Detroit metro area and drove it back. They only sell with GM Employee discount pricing or Supplier pricing. They'll give you a supplier price if you don't qualify for employee pricing. I got mine for about $3500 under MSRP. Bought in mid-March. Ask for Ray Calvin. Transaction was a breeze. Even picked me up at the airport.

 

[Bob2C]

Just outrageous. Pushing into Escalade territory. Koons has 19 xl’s there. Hmmm wonder why. This was the biggest markup. Most are around 5k over. Tack on more BS fees and tax your look at over 100k. Nope

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[Quark]

Just outrageous. Pushing into Escalade territory. Koons has 19 xl’s there. Hmmm wonder why. This was the biggest markup. Most are around 5k over. Tack on more BS fees and tax your look at over 100k. Nope

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That is ridiculous. They know some people have to have it now and with low supply they can always lower it at the end of the MY and sell them when no one else has them. Smart money waits till the market comes to them.

 

[Gmo79]

Wow.. 19 in stock! Looks like they are having a Memorial Day weekend sale too… some XLs are now +15K over MSRP

 

[TollKeeper]

I have a couple buddys that are car dealers. They suggest that if you want a new truck, order it to spec, online. No dealer mark ups, and you get exactly what you want.

Locally, my dealers are ordering 1 of 2 builds. Fully loaded, or plain jane. nothing inbetween.

 

[Brett776]

Dealer here in south FL has a Yukon Denali used with 2300 miles for 93k! I know they get up there but it’s used !! I’m sure someone will pay it though.

 

[Stbentoak]

I have a couple buddys that are car dealers. They suggest that if you want a new truck, order it to spec, online. No dealer mark ups, and you get exactly what you want.

Locally, my dealers are ordering 1 of 2 builds. Fully loaded, or plain jane. nothing inbetween.

What makes you think a dealer HAS to accept an "ordered" vehicle at MSRP?

 

[EMTPete]

Wow.. 19 in stock! Looks like they are having a Memorial Day weekend sale too… some XLs are now +15K over MSRP

I’m not sure why anyone would pay so much over MSRP. I had an interesting email exchange with Koons this week. In a nut shell he told me it’s a sellers market and I should not having any issue with them charging $5 or $10k (even $15k on some) because used car trade in values are up some…. Koons will never get any business from me.

 

[MelloYello95]

We purchased our Yukon through Rhinelander GMC Buick in Rhinelander, WI. Yukon was on sale and they honored the sale price online. We flew 1500 miles, 2 day drive back home and still came in several thousand under MSRP including our transportation costs to pick it up.

Great drive too, Wisconsin and Iowa are beautiful states!