This Pennsylvania Dealer Is Selling A 2023 Corvette Z06 With A Huge Markup50
Back in early 2022, General Motors sent out a letter to dealerships warning of possible repercussions if the dealer charged customers over MSRP on vehicles like the Chevy Silverado EV and 2023 Corvette Z06. Despite this message, some dealers are still tacking on markups to C8 Z06 units, and now, GM Authority reader Terry spotted this Pennsylvania dealer posting a 2023 Corvette Z06 for sale with a $60,000 markup.
Listed for sale by Bob Fisher Chevrolet – and featuring a large “dealer market adjustment” fee – this particular C8 Z06 is finished in the 3LZ trim level, and is painted in the eye-popping Accelerate Yellow Metallic (color code GD0) paint color. On the inside, we see the Sky Cool Grey colorway, along with Nappa leather seats.
It’s worth noting that this 2023 Z06 does not feature the high performance Z07 package.
Unfortunately, this isn’t the first example of dealers and private owners price-gouging the C8 Corvette Z06, and likely won’t be the last. GM Authority has reported on several instances, including a 25-mile C8 Z06 Convertible posted for $375,000, a 15-mile C8 Z06 selling for $275,000 at an auction, and one dealer asking for a $100,000 markup.
Despite GM’s warnings, it certainly doesn’t seem like dealer markups are going away anytime soon. With this in mind, we recently asked you, our dear reader, what your opinion on the matter was. Looking over the poll results, almost 80 percent of our readers believe that GM has not fixed dealer surcharges.
As a reminder, the 2023 Corvette Z06 is highlighted by the naturally-aspirated 5.5L V8 LT6 gasoline engine, which is rated at 670 horsepower and 460 pound-feet of torque. Output is routed to the rear wheels via the GM eight-speed dual-clutch automatic transmission.
Under the aggressive body panels, the C8 Z06, along with every C8 Vette variant, rides on the GM Y2 platform. Production takes place exclusively at the GM Bowling Green plant in Kentucky.
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good for them! its a sports car now cancer meds. i would pay way over MSRP to get this car now. everyone seems to be a minimum three year wait with no guarantee. by than GM will have jacked the MSRP up $25K per year anyway. pay to play.
MORE MONEY THAN BRAINS !!!
Roseville Chevrolet in California has a Z06 3LZ for $257,120.00. MSRP is $157,125.00. What’s even crazier is that they had two. The other one had the same mark up and now it’s gone. Some people have more money than sense.
smart dealer. i would do the same.
They don’t lack sense. They just have dollars.
You must be from the same are of town that I am. Sullivan Chevrolet was bought out and is now called Roseville Chevrolet. They’ve been marking up Stingray’s for $30-40k over MSRP for some time now. I belong to multiple car clubs in the Sacramento area including a Corvette club. Our members will no longer patronize Roseville Chevrolet for anything (sales, parts & service). Many club members own businesses in which they need Trucks and Tahoe’s. Even though they have been long-time loyal customers buying 100’s of thousands of dollars in vehicles over the years, Roseville Chevy doesn’t care. These folks no longer go there. It’s primarily the Bay Area money that is paying the additional dealer FU fee. The dealership may make make a quick buck gouging the customers now, but the amount of damage they have done with customer dissatisfaction and distrust will come home to roost. It’s way easier now to get your Stingray out of state where there are many dealerships that will sell to you at MSRP. I have no problem with a business making a profit; you have to to stay in business, but this ridiculous gouging needs to stop.
I remember in 1982, a Chevrolet dealer in Pennsylvania selling all Chevys (including the Corvette) at a discount that was too much according to GM. GM responded by cutting his allotment. GM could solve this problem by cutting the mark-up dealers’ allotment of future Corvettes to zero.
Won’t matter… they have maybe 8% margin in each car. lets say they got a half dozen for the year all sold at MSRP all sold for about $10k profit. That’s $60K… give me my two and a $100k market adjustment for $220K profit right now. That is easily worth the next three years allotment. The only people truly crying about a market adjustment on something like this are people who are not buying one anyway.
Good for the dealer! As for the future buyer, hope they enjoy it A LOT!
I would never pay such a premium and give anyone the satisfaction of taking me to the cleaners!! Just sayin.
…”HOPING to sell”…
GM needs to get the information once the vehicle is sold find out exactly what has been paid for that vehicle and penalize the dealers for these crazy ass mark ups!! They sent out a letter but do absolutely nothing about it. I ordered an Escalade V the day it went on sale over a year ago March 19 2022 with a sizable deposit and have radio silence from the dealer. I will not give up an extra 50 or 60,000 my dealer gave me 10% add on which was right around $16,000 Which is still too much for someone who has bought nine Cadillac’s with them, but I wanted to vehicle but people asking 50 or 100,000 is just insane. Hopefully everyone gets a corvette or an Escalade or whatever they’re into,, but that is actually going to actually drive it and enjoy it,, good luck to everyone that is seeking out there, special vehicle without these crazy mark ups
How come other manufacturers can do the same or have exclusive clubs but as soon as Corvette does something similar everyone loses their minds? It’s supply and demand. When 911s,etc. do it, Porsche buyers don’t raise a single eyebrow and don’t cry about it like Vette buyers do. Suck it up. Corvette is now a different animal.
So true. Ford does it all the time with their Shelby Mustang Cobras. Try and buy one of those for MSRP and they will laugh in your face. Obviously no where near the volume of Corvette sales but even so the Mustang buyers are not whining, at least not this much.
Remember when all the Harleys were going for 3:00 to $6,000 more than MSRP?… That really hurts dealer to consumer relations. Yes there was people that bought at those inflated prices but in the future they would never go to that dealership again! And that is the end result! So many people I know would never buy a bike from those dealerships in fact they said if their bike broke down in front of the dealership they would push it to a new one! It’s sad that Chevrolet allow such price gouging with no retribution. As with the Harley dealership that was price gouging in the early 2000s they collectively sold the dealership! Kind of makes you wonder why! Chesapeake Harley-Davidson in Maryland! Rest in peace you guys deserve it!
Norm here is spot on! Do I like the mark ups? No. I do think however this is a simple case of supply and demand. Everyone wants to hate the dealers but I have a very hard time believing that if these people had one of these cars they would not do the same. It seems the only dumb ones in the mix are the dealers who sell at MSRP and see their car a week later at the auction selling for a $100k more!
exactly!! I am sure a 3rd of the people who ordered this car and clogged the list are “flippers”. If you want one at MSRP, place an order and get in line. If you want it now, pay. Its simple. $hit is worth what people are willing to pay. period.
The level of greed most of you commenters condone and subscribe to is shocking. Ditto for the powers that be at GM. When the day of national and global financial reckoning finally arrives, I hope the federal government lets GM rot and fail while the rest of you lot scramble for a window out which to jump.
I agree it is a case of supply and demand. I saw a blurb that GM is going to stop making sold-orders, and start making vehicles for dealer inventory. So, with that, that tells you how GM values it customers. I am going to keep my money in my pocket, even though I would love to have a C8.
that’s a half truth. they are trying to unclog the order banks, allowing for legit customer to get their vehicles first. there has been too much “spec” ordering going on the past few years. people hitting up multiple dealers, leaving soft deposits and seeing who can deliver first. the intent is, if there is an order in the system it goes to the person who ordered it. if not, the vehicle will go back to GM and be offered to the next person who has a matching unit. its a reasonable smart idea in theory however in practice it will fail.
Why, when I rate a comment, does it the to zero???
Sorry folks, nothing to see here, keep moving…everything is under control, we’re just “readjusting” some prices that’ll allow some extra cash flow in the hands of the dealer to be used at their discretion when the new unit is finally sold, move along.
Sadly, we’re going to be seeing this scenario more and more as dealer inventories wane and certain models that are more popular carry an adenium according to the popularity of each vehicle and of course, the Corvette Z06 seems to be at the forefront of all of this madness. Also expect certain “EV’s” to be carrying that “fair market value” sticker too, and again it’ll be what the market will accept paying for each model in higher demand. It’s a good thing that grocery stores and retail stores like Walmart, Target, Home Depot ect. don’t do this on a daily basis, imagine the craziness doing this daily!
What we see happening is not going to get any better…”you play, you pay”, simple as that. So if you’re not a serious player in the market place…move along, go looking for something else, like that “pot of gold at the end of a rainbow”, good luck.
what’s the difference if the customer buys it and turns and sell it anyway for the same or even higher price then what current dealers are doing!! Just be reasonable with the markups….
It’s called Supply and Demand, and is the basis of the Capitalist system. If the dealers sell them for MSRP then people will be buying to resell at the auction the next day and making the $$$ that really the dealer deserves to make. The dealer is the one who has invested in building, equipment etc. In a couple of years the dealer may have 25 cars sitting on the lot having to sell them for a loss!! So when times are good the dealer should benefit because times do change!!
Dealers never sell a vehicle at a loss. It is delusional to think otherwise.
If selling one more vehicle (at a loss) on the final hours of the last day of the month means hitting or missing a financial target, they absolutely will…esp. if it’s a hard-to-sell spec. Minor loss on one unit more than made up for by hitting the goal.
Sorry the markups are still here, but what a beautiful car!!
at least there is a demand for the some vehicles with the markups. this is America we all deserve profit..
At one time a middle-class working man could aspire to and afford to own and keep a Corvette if that was his desire. It was the promise of the American dream made flesh for car buffs, and a reality which made the Corvette unique and special in automotive history. But no more, as GM has elected to abandon the ideals that created the Corvette in the first place in favor of catering to an elite class of owner who have little in common with you and me. Nothing could be sadder and more disrespectful of the Corvette name than the path GM has chosen for this once storied brand.
No longer the Corvette is disrespected with discounts and negotiations at dealers. If you could never get discounted 911 Porsche then why the hell should you be able to get discounted Corvette. Corvette has now established itself to be Porsche contender. Not a dime a dozen cheap discounted car for good reason but a sought after one. The fact that you could get 10k discount on a brand new Corvette in the past was disrespectful to the brand. Porsches were never ever discounted and hence more respected than Corvettes. Respect the Corvette brand.
buy a Lambo, Porsche, Mclaren or Ferrari instead
Even with the mark up there still a better deal than any other “super car “. Faster, cheaper, and be serviced in your back. That’s what people I know are saying why they will pay the mark up.
If GM really want to take care of the greed some of the dealers still show, what they need to focus on is solving their production issues and upping the rate. It’s all about supply and demand. Don’t have people waiting for over a year to get their car…! Figure it out and make it a reasonable waiting time and you won t see that greed anymore!
First of all if anyone believes GM CARES ABOUT 10 20. 30 yrs loyalty I will be the first to tell you they don’t I went to a dealer they had 2020 1LT WHEN THEY FIRST came out they had one for $58.560 with tax I wrote them a check for that amount they wouldn’t not take it because it was a personal check so I let me leave a $1000 down on it told I be beck with a check from my. Bank when came back the next day the salesman gave me some shady ass bull$hit lie that he didn’t know the car was sold 3 days ago saying the other sales forgot to put the sold sign on it so he was trying to sale me a different one I said no I want the one for $58.560 then he tells me that was the wrong price I said the window said $58.550 They marked that car I want to $71.000 So you mean to tell me GM I JUSTYOUR SALESMAN JUST MADE $13.000 For you but you telling the dealerships to stop ripping off your loyal customers and you not getting of that extra $13.000 but you more worried about dealers ripping off yours customers Then I got a Brooklyn bridge & a Lincoln tunnel to sell you and I have gm put it on the car carriers and while you waiting on your bridge & tunnel And if you believe gm is not in on the HUGE MARKUPS YEAH RIGHT. AND I WROTE BILLIEJEAN & BEAT IT. FOR MICHAEL JACKSON
GM makes nothing on the markups. All the money goes to the dealer…
That is a legendary rant.
Seriously though, it’s as if the C8 turned almost everyone into a-holes…when I bought my new C6 the dealer took a check and simply made me sign an affidavit that I had to return the car in 7 days if payment didn’t clear…was a super smooth transaction…negotiating & buying a new car used to be a fun & exciting experience…now it just sucks. I’m sure someone will read want to respond with some “supply & demand” BS…which would be largely missing the point.