Late this last July, GM Authority reported that GM was limiting warranty transfers for the Cadillac Escalade-V, C8 Chevy Corvette Z06, and GMC Hummer EV in an attempt to prevent new owners from quickly reselling their vehicles for an easy profit. Now, GM Authority has exclusively learned that GM will change those limiting requirements for 2023 Cadillac Escalade-V.
For those readers who may have missed it, GM Authority previously reported that The General will limit the transferability of certain warranties, as well as prevent sellers from placing future sold order or reservations for high-demand vehicles, if a new owner resells their Cadillac Escalade-V, 2023 Chevy Corvette Z06, or GMC Hummer EV within 12 months of ownership. The move is intended to stop new owners from quickly reselling high-demand vehicles like the Cadillac Escalade-V, a practice known as “flipping,” which is said to negatively impact GM customer experience and related GM brands.
Now, according to GM Authority sources, GM is reducing the ownership requirements for the new 2023 Cadillac Escalade-V from 12 months to 6 months, which means new owners will be able to sell the high-performance SUV after only half a year of ownership without any repercussions from the automaker.
It’s unknown at this time if the change will also apply to the Corvette Z06 or GMC Hummer EV.
Notably, GM is also offering new C8 Chevy Corvette Z06 owners 500,000 My Chevrolet Rewards points (a $5,000 value) if they retain ownership of their new vehicle for at least 12 months, a move which is also intended as an incentive to prevent owners from flipping their vehicle for profit.
As a reminder, the 2023 Cadillac Escalade-V introduces a new level of performance to the luxury SUV lineup, packing in 682 horsepower and 653 pound-feet of torque thanks to the supercharged 6.2L V8 LT4 gasoline engine under the hood. Under the skin, the Cadillac Escalade rides on the GM T1 platform, while production takes place at the GM Arlington plant in Texas.
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Comments
Seems oxymoronic that many GM dealers sell these cars for thousands over retail and call that a “market adjustment” while GM tells legitimate owners they CANNOT resell a car they bought and have the warranty transfer.
It’s not just GM as well. Locally there was a Ford Bronco with a window sticker of 43k with a price of 60k with the difference being shown as a “market adjustment”.
Although I really like my local GM dealer it is easy to see when car dealers often get a bad rap in the public eye.
I really want one, but I could get a Camaro ZL1 convertible and a ZL1 coupe together for the same price… with the same engine.
GM is paying rewards points for customers that keep their vehicle for at least 12 months? All vehicles, or just Cadillac? Hey GM, how about additional rewards points for those who have to wait a year to get a vehicle they ordered, and the price went up $1000? Or those that have to wait a year to get the missing chips for what they already purchased?
Im in with jaybird,, the dealers can mark up thousands to take advantage of buyers, but GM puts restrictions on the purchaser? No wonder so many are going foreign. GM, get your **** together.
Hey why don’t they put limits on dealers who inflate the price as a “market adjustment” isn’t it the same thing? My god punish people who want to buy the vehicle possibly making a quick buck but my god the dealers make a quick buck on these vehicles without punishment. It’s GM
John: It’s an ol Boy network, factory and dealers. Factory favors producing dealers. Non producing dealers are cold shouldered.
GM loves dealers the likes of Roger Penske. When John Z. DeLorean was head of Pontiac Motor Division he favored his brother, Chuck, with a choice Cadillac dealership in Cleveland, Ohio.
It’s all politics and who you know in the factory / dealer game. Car dealers are an old fashioned, traditional distribution channel that the automakers would love to OFF. Musk has successfully done so with Tesla. Ford is in the initial planning stages to do so. It’s being considered in their long term planning due to Tesla’s success.
We are going to see many game changers in the future of the auto and truck business.
Wow! Being able to sell your car whenever you want! How American!
Tigger you can sell it whenever you want it’s just that if you don’t wait the year or six months then no warranty! IMO GM should also void the warranty if people mess around with the engine, put stupid bigger wheels on it, race it often… And yes I agree flipping does hurt people who really want to buy one of these vehicles and keep it for a long time and enjoy it… I know if I owned one it would be parked right next to my 2010 Chevy equinox ltz V6 and I would keep and enjoy it for a long time possibly even give to my son when he’s old enough if he wants it.