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I'm on the list at our local Kia dealer. This just in today, 2/15/2022:
jack vines
Thanks for the update, but no, thank you.
jack vines
So you want a new Kia EV6 ??
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Tell them for 10 grand I could have keep my 2002 Camry running another 17 years!
This makes me furious (well, not really) but how freakin' ridiculous this is that they have the balls to ask $10K more on top of the MRSP when they are still getting these cars at wholesale price. Gouging much?
There were several reports on reddit just today that it's pretty common for dealers initially ask for markups and eventually settling for MSRP. For example here someone mentioned dealer went from 10K markup to MSRP:
I think it was common having 5-10K markup on Ioniq5/EV6 but those are rapidly seems to be shrinking. It seems the shortage slightly easing up but dealers are still trying to pull a fast one.
I think it was common having 5-10K markup on Ioniq5/EV6 but those are rapidly seems to be shrinking. It seems the shortage slightly easing up but dealers are still trying to pull a fast one.
If they have a lot fewer cars to sell, then they are going to need to charge more. I’m not saying it is fun, but they still have expenses before they make any profit, and many of those expenses are fixed.
While I was pricing out the Ioniq 5 at Colorado dealerships a few months ago, the responses were all over the map. I found two locations that were charging MSRP (well one made you accept floor mats and a paint coating for $900, but at least you got physical goods for the markup). Most had $3-5k markups, and then a good third of them were adding $10k. Those dealerships also hadn't sold any of their allotments yet. Two of the $10k dealers even gave me a spiel about how they don't make a penny off of MSRP and couldn't stay in business selling at zero profit. I didn't refer them to their competitors and just thanked them for their time.
I wonder if this whole markup trend is a viscous cycle that dealerships get trapped in. Incoming shipments start to slow, so you add a markup to stay profitable. Makes sense. Your competitor manages to avoid marking up as much, so now you lose business to them and feel the need to mark up more just to keep operating. I've heard that dealers also get more allotments from the OEMs if they keep product moving, so it makes sense that once you start to fall behind it'd be tough to get back in the groove... Or some are greedy. Could go either way!
Bottom line, I'd recommend calling every dealership you'd consider driving to. You might find a good one.
I wonder if this whole markup trend is a viscous cycle that dealerships get trapped in. Incoming shipments start to slow, so you add a markup to stay profitable. Makes sense. Your competitor manages to avoid marking up as much, so now you lose business to them and feel the need to mark up more just to keep operating. I've heard that dealers also get more allotments from the OEMs if they keep product moving, so it makes sense that once you start to fall behind it'd be tough to get back in the groove... Or some are greedy. Could go either way!
Bottom line, I'd recommend calling every dealership you'd consider driving to. You might find a good one.
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It takes work, but definitely look at Kia threads/forums since as posted on that reddit link, there are dealers willing to just sell at MSRP. People like to say how it's impossible to replace a Bolt (so I'll just keep it) with anything else out there without a markup, but that's a lie and "most" new cars can be bought at MSRP if someone is willing to wait or do some work/research/searching for the right dealer.
I think Jack (OP) is just posting this to make it sound like MSRP is impossible on anything else to spread the markup scare since he's very happy with the Bolt, but again, it's a lie that MSRP is impossible for most new EVs. They are very possible and don't think it's not out there.
I think Jack (OP) is just posting this to make it sound like MSRP is impossible on anything else to spread the markup scare since he's very happy with the Bolt, but again, it's a lie that MSRP is impossible for most new EVs. They are very possible and don't think it's not out there.
There are a couple of YT channels that explain ordering a car from the manufacturer. I don't know if it helps anyone here, Ray and Zac at Your Auto Advocate and I think Kevin Hunter at The Homework Guy both have posted vids on the subject.
No need to disparage motivations. There are plenty of anecdotal criticisms of GM dealership experiences here, and (most) people understand they are anecdotal.
In terms of car prices in general, it may be possible to purchase a car at MSRP, but the data indicates that most buyers (87%) are paying higher than MSRP:
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I just felt this whole thread was unnecessary and just a way to make it sound like MSRP pricing is impossible for EVs.
ICE cars are also marked up as well and used cars are overpriced as are new GM trucks, Camaros, you name it so it's not just the Kia EV. Plenty of people have/did/can get new EVs at MSRP or even less honestly, but the way the post was formed from an old time member who is quick to defend the Bolt with how great it is for them (the Bolt is fine since I bought and owned one as well) seems a bit disingenuous in regards to Kia EV pricing.
It in my recent experience seems really dependent on the dealers. We have been testing driving cars for my son and one Hyundai dealer we stopped at the salesman we talked with kept telling us they didn't have any of the cars on the lot. The markup is X for this model and X for that model and we don't go any lower. That they all sell online before they ever make it to the dealership. So I took a stroll around their lot and found 5 of the exact car I asked about. So I approached a different salesman to ask about those 5 cars and then test drove two of them because they were in fact not sold. So some dealers and salesman are trying to take advantage of the news around all of the shortages and such.
I expect many in my area get away with it being there is a large population and a lot of money in the area. So I expect they are able to sell this line to those who have the money and would rather just pay whatever they ask for to get their car.
Not all the dealers we have went to have been like this. A few said there was a markup but once we started to leave they said if we bought today they would make an exception and give us MSRP.
I expect many in my area get away with it being there is a large population and a lot of money in the area. So I expect they are able to sell this line to those who have the money and would rather just pay whatever they ask for to get their car.
Not all the dealers we have went to have been like this. A few said there was a markup but once we started to leave they said if we bought today they would make an exception and give us MSRP.
I didn't get the impression at all that he was implying that MSRP pricing is impossible. It often requires additional effort, including travel in many cases. Furthermore, it is impossible for everyone to get these cars at MSRP.
As long as some buyers are willing to pay more, the remaining buyers will have to scramble for the, sometimes relatively few MSRP deals, give up on that car, or grudgingly pay more. The EV6 supply is currently very limited, the EV6 supply at MSRP, is even more limited. So for some, getting one at MSRP actually will be impossible.
As for Jack talking about how great his Bolt is, in other posts, I welcome his positive comments. This is a Bolt forum after all. I don't see how that relates to his comment about the $10k EV6 markup by his local Kia dealer though. Maybe many of us are reading too much into his brief comment, myself included.
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So this is my first time posting on "ChevyBolt.org". I bought a 2019 Chevrolet Bolt EV CPO in February 2021. I mostly read threads to see what other people are experiencing, but decidedly don't have much to add to the conversation. So I don't. BUT this is a topic that I think needs some more perspective.
One: The "S" in MSRP stands for "Suggested". Meaning that it is just a suggestion. The dealership can charge more, less or exactly the MSRP based on market conditions or whatever you, the customer, are willing to pay. For example, the last car that I purchased new was a 2017 Toyota Prius v Four Model. Total sticker price including MSRP, delivery, and "distributor's installed options" amounted to $30,953, but I only paid $27,500 without much haggling in March of 2018. (MSRP was $29,695.)
Two: The Kia EV6 is a new vehicle. You ALWAYS pay more for the latest and greatest technology, and in this market that's going to be more than MSRP. In fact, the latest sales figures say that more than 80% of all new vehicles sold in January for more than MSRP. Plus, there is a growing list of used vehicles that are selling for more than MSRP.
Three: If you are interested in a Kia BEV, and don't want to pay more than MSRP; I suggest you scroll down the list of new vehicles at your local dealership. Many dealerships have a growing inventory of the 2022 Kia Niro EV. In fact, Lumberton Kia is selling one for $5000 off of MSRP (kiaoflumberton.com). Of course, this is not the latest and greatest technology, but it is still a competitive ev, and it still qualifies for the $7500 tax credit.
Conclusion: If you don't want to pay more than MSRP, then don't. Frankly, I don't want to pay anywhere close to MSRP. Even at MSRP, these cars are WAY overpriced. When we get on the other side of the chip shortage, supply chain disruptions, COVID, yada yada yada, you're going to be way upside down if you finance (and most people do). In less than two years, the manufacturers will be making bigger, more efficient and cheaper BEVs with better battery technology and range. At that time, I look forward to buying the last Chevy Bolt for sale at my local Chevy dealer for the best price!
One: The "S" in MSRP stands for "Suggested". Meaning that it is just a suggestion. The dealership can charge more, less or exactly the MSRP based on market conditions or whatever you, the customer, are willing to pay. For example, the last car that I purchased new was a 2017 Toyota Prius v Four Model. Total sticker price including MSRP, delivery, and "distributor's installed options" amounted to $30,953, but I only paid $27,500 without much haggling in March of 2018. (MSRP was $29,695.)
Two: The Kia EV6 is a new vehicle. You ALWAYS pay more for the latest and greatest technology, and in this market that's going to be more than MSRP. In fact, the latest sales figures say that more than 80% of all new vehicles sold in January for more than MSRP. Plus, there is a growing list of used vehicles that are selling for more than MSRP.
Three: If you are interested in a Kia BEV, and don't want to pay more than MSRP; I suggest you scroll down the list of new vehicles at your local dealership. Many dealerships have a growing inventory of the 2022 Kia Niro EV. In fact, Lumberton Kia is selling one for $5000 off of MSRP (kiaoflumberton.com). Of course, this is not the latest and greatest technology, but it is still a competitive ev, and it still qualifies for the $7500 tax credit.
Conclusion: If you don't want to pay more than MSRP, then don't. Frankly, I don't want to pay anywhere close to MSRP. Even at MSRP, these cars are WAY overpriced. When we get on the other side of the chip shortage, supply chain disruptions, COVID, yada yada yada, you're going to be way upside down if you finance (and most people do). In less than two years, the manufacturers will be making bigger, more efficient and cheaper BEVs with better battery technology and range. At that time, I look forward to buying the last Chevy Bolt for sale at my local Chevy dealer for the best price!
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FYI...Markup Tracker: EV Dealer Markup Tracker (USA) (Responses) - Google Drive
The claims that dealerships doing worse now is a complete lie propagated by dealerships. They have made a record profits last year selling new cars. It's true that they currently sell less cars than before. For US production cuts were ~3million cars, but still net sales were about 15million cars. Meaning dealers sold roughly 20% less cars. But profits per car went multiple X than before, not only now they charge at least MSRP but also often some markup on top of it. So net this market is way more profitable for them.
So no need to feel bad about dealerships, negotiate those markups down. They are not gonna take them out unless you ask them too.
So no need to feel bad about dealerships, negotiate those markups down. They are not gonna take them out unless you ask them too.
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record profits on used cars too!
There is a story on Chitpole, record profit. sales up over 100%, CEO pay up over 100%, worker pay up 50c an hour was stated as the REASON for price increase. Always a sucker somewhere.
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But you will have to wait, and "everybody" won't. Especially since Kia continues to starve the market of their BEVs. When the Kia Niro EV first came out, it got great reviews. When I looked for one in my town (Charlotte, NC), nobody was selling it. Only dealerships on the West Coast had them, and I bought a Bolt because I didn't want to pay MSRP on an order or transfer. Now the dealers in my area are selling them finally, but still overpriced in my opinion.
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