Chevy Dealers Get Tricky With C8 Corvette Markups
Selling new vehicles as used is one way to skirt GM's crackdown on markups.
New Methods
In a world full of low new vehicle inventory levels stemming from the chip shortage and other supply chain constraints, markups are a common sight on most new cars, especially desirable ones like the C8 Corvette. However, with GM and other automakers cracking down on these practices, it seems as if some dealers are resorting to new methods to price gouge customers.
Photos: Gordon Motor Cars
Barely Used
Many dealers are now selling new vehicles as used with just a handful of miles on the clock, which seemingly helps them avoid the prying eyes of their parent automakers. This is possibly the case with this brand new 2023 Corvette up for sale at Gordon Motor Cars, which is listed there for $118,900 with 300 miles on the clock.
Photos: Gordon Motor Cars
Unclear Motive
This Corvette still has all of the protective plastic and other things inside the cabin that dealers typically remove for customers before they take them home, so it's unclear if a customer actually purchased the car and then sold it back to the dealer, or if the dealer just put a few miles on the car so they could sell it used for a huge profit.
Photos: Gordon Motor Cars
Strangeness
However, things get even stranger from there. While the car is listed at Gordon's site with 300 miles, the odometer photo here shows 128 miles. At the same time, this car is also listed for auction at IAAI with 183 miles on the clock. While there's no window sticker available for the C8, it has an "actual value" of $104,200, according to the auction site.
Photos: Gordon Motor Cars
Many Uncertainties
It's unclear what sort of options this particular C8 is equipped with, other than the fact that it's a convertible with the Z51 package. That means its MSRP could reach into the $90k range for a 3LT, though it seems as if the dealer has attached a hefty markup to the car, regardless.
Photos: Gordon Motor Cars
