GM offers a range of highly desirable vehicles and enthusiast-oriented products, including the new C8 Chevy Corvette Z06 sports car, the battery-powered GMC Hummer EV off-roader, and the high-performance Cadillac Escalade-V. Now, GM Authority has learned that GM will limit the warranty transfer for these three vehicles, potentially curbing incidences of owners “flipping” high-demand vehicles for profit.
According to a document seen by GM Authority, GM is limiting the transferability of certain warranties and will prevent sellers from placing future sold order or reservations for high-demand models if a new owner resells their 2023 Chevy Corvette Z06, GMC Hummer EV (including both SUV and SUT models), or Cadillac Escalade-V within 12 months of ownership. GM indicates that these changes are intended to prevent these three high-demand vehicles from being quickly resold, a practice that can negatively impact GM’s customer experience and related GM brands.
GM notes that these changes will not impact product recalls.
Indeed, when it comes to high-demand vehicles like the new Corvette Z06, GMC Hummer EV, or Cadillac Escalade-V, it’s not uncommon to see these vehicles quickly resold at greatly inflated prices. When it comes to the C8 Chevy Corvette Z06, GM is also offering buyers 500,000 My Chevrolet Rewards points, a hefty $5,000 value, to those customers that retain ownership of their new vehicle for at least 12 months. This is once again intended to incentive owners to not flip their vehicle for a profit, with the points redeemable for things like GM Financial Payments, Chevrolet accessories, and more.
Of course, these efforts will undoubtedly fail in preventing all new owners from flipping their new Chevy Corvette Z06, GMC Hummer EV, or Cadillac Escalade-V for a quick buck. However, for those folks simply looking to get one of these highly coveted vehicles in their garage, every bit helps.