Why GM wants to penalize Corvette, Hummer, other buyers who resell high-demand vehicles within 12 months
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DETROIT — General Motors is asking dealers to help prevent customers from quickly flipping high-demand vehicles and adding exorbitant markups.
The automaker is barring customers who resell certain high-demand vehicles within 12 months from placing future reservations and orders. GM also is limiting the transfer of certain warranties.
Steve Carlisle, president of GM North America, outlined the change in a letter sent to dealers Friday. For now, GM considers the 2023 Cadillac Escalade-V, Chevrolet Corvette Z06 and GMC Hummer EV pickup and SUV “high demand” models that the requirement would affect.
Industrywide, dealers and consumers have been charging hefty prices for vehicles, dubbed “market adjustments” by dealers, as inventory remains scarce. GM and other automakers have urged their dealership networks to sell and price vehicles fairly.
