GM looking to stop dealerships from marking up electric vehicle prices

Electric cars are hot right now

As more and more traditional car companies start selling desirable EVs, an issue has sprung up where dealerships arbitrarily mark up the prices of these cars.

To curb this, GM has sent a letter to its dealerships warning dealers against price raises. Offenders will have vehicle inventory redirected away from their lots. This follows a letter Ford sent to its dealerships regarding dealer markups on the F-150 Lightning.

GM’s letter says that “specifically it has come to our attention that some dealerships have attempted to demand money above and beyond the reservation amount set in GM’s program rules and have requested customers pay sums far in excess of MRSP in order to purchase or lease a vehicle,” according to a leaked letter on SilvarodoEvolution.com.

This appears to be happening at only a few dealerships, but as these exciting electric vehicles come out amid the global supply chain constraints, GM needs to stop this from becoming the norm. Especially since EVs are already more expensive than their gasoline-powered equivalents.

Source: Silverado Evolution