Dealer Orders $100K Token In 2023 Chevy Corvette Z06

Every eagerly anticipated new car is another opportunity for dealers who put dollar signs in their eyes to plunder customers’ pockets. The 2023 Chevrolet Corvette Z06 is no exception, and a Florida Chevy dealer appears to think it could pay interested buyers what may be more than double the price of the Z06. He does so by taking in $100,000 in profit margins on reservations for a local Chevy supercar.

In a screenshot of an email sent to Reddit, a Dimmitt Chevrolet sales representative appears in Clearwater in response to a customer inquiry about Z06 reservations. The misspelled message indicates that Dimmitt is asking Z06 customers to sign a document pledging to pay up to six numbers in installments at various stages of the ordering process — and it’s not clear if any are refundable if the buyer needs to back out. Payments are split into $5,000 to hold the holding slot, another $20,000 due when it’s time to fill out the order, and an additional $75,000 upon delivery. According to Markups.org, a publicly sourced dealer tag tracking tool, this is the highest rate for a Z06 currently known.

Official pricing for the Z06 hasn’t been announced, but a GM official indicated that it could start at less than $100,000. That says the total price of the Z06 at Dimmitt comes in at well over $180,000, easily over $200,000 depending on your final MSRP and potential options. This basically doubles the price of what was not, historically, a limited production model. Virtually every car these days is due to ongoing supply chain issues, but there’s still a double-or-nothing sting, especially on an expensive car like the Z06.

Concerned that the screenshot might be a hoax, I felt it was wise to contact Dimmitt Chevrolet to check if the above exchange – and the coding – was real. I emailed the merchant and called their sales desk, the receptionist took my name and number, and promised the manager would call him again. My call or email was not returned at the time of publication. Silence isn’t an indicator of guilt, but it’s not entirely denial either.

2023 Chevrolet Corvette Z06 | Chevrolet

This behavior may not be unusual for Dimmitt, though a Corvette Forum user reported in March of 2021 that he tokenized every C8 in his inventory at $30,000. GM has warned dealers not to gouging the prices of important products, with the company’s North American President Steve Carlisle issuing a strongly worded letter about the practice, as evidenced by Corvette Work Center. “GM will have to take action if it becomes aware of any unethical selling practices […] that undermine the integrity that customers expect,” Carlisle wrote, referring to clauses in GM dealer agreements that prohibit practices “harmful to the dealer’s reputation.”[s]or General Motors or its products.”

A Chevy spokesperson explained to me, “The company is trying to make sure that the integrity that customers expect from Chevrolet is not undermined. Ultimately, we want every customer to have a great experience. The majority of our dealers know that and we want everyone to stick to that.”

It seems likely, then, that Demet is in a tough talk with GM. Any dealer trying to grab customer chains may only find an unhappy OEM on the other end.

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