soulsea

Reviving this thread for a little 'itoldyousoitis' ...

As I pointed out in my communication with GM, the inevitable byproduct of this policy has happened. I wish it were an unforeseen consequence, except for the fact that many of us foresaw it.

So few cars are being currently made and with the second hand market being handcuffed by the warranty restriction, it has resulted in ADMs being actually much higher than they would have been if GM had done nothing, except for the dealers who are profiting even more as the restrictions are funneling the market to them. Exactly the opposite of say Bronco Raptors, which are being being flipped on masse and whose markups are gradually and organically fading. Still over sticker because of low supply but nowhere near where the premiums used to be because the market is taking care of it, as only it can.

So all of you who applauded and 'f yeah'ed' this policy thinking that it was the right move and it will solve the flipper (ie high premiums for used cars) problem, and that it would help you get a car faster and at a lower price, you did a Tupolev and killed us.

1:47

Jridden

"You arrogant ***, you've killed us!"

khartford

Mr. Soulsea,
I recognize genius when I see it. Your correspondence with G.M. should go into the Corvette Forum Hall of Fame. You truly shine in this age of deteriorating grammar and spelling mistakes. Well done sir!

AustinVetter

GM knew this would happen without any doubt. It was BY DESIGN. I said this would happen early on. Anyone paying attention felt the same way. You take customer cars out of the equation and it would give the dealers a monopoly on the sale of the cars. Exactly what has happened. GM also allowed dealers to order dealer stock rather than honor their customer lists. The last thing corporate GM (not the teams) care about is the consumer. Their loyalty is to their dealer network and the proof has been how the Z06 has been handled... from stripping the warranty from customer cars to allowing dealer stock to looking the other way on outrageous ADM's. Nothing surprising here.

m48xhp

Hi Forum,
I want to bump this thread in the hope of petitioning for a change. We've seen the market change dramatically, just in the last 30 days where dealer inventory markups and auction prices have come down a lot. Averaging probably $10-20 over sticker, and some outliers for less. Long story short here, no one is profiting on "flipping" a Z06 anymore. Even if you are able to get one at MSRP, the taxes you will pay will eat the potential profit of selling it.

As we all saw this coming, I thought it was a big mistake for GM to continue their 6 month retention policy on the 2024 Z06, but they did anyway with no recourse against dealers selling over MSRP.

This is now hitting me personally as I have a Z06 at the dealer ready for pickup that I ordered and long ago agreed to a non-refundable $5000 deposit and $15,000 price over sticker. I don't want to pay over sticker as much as the next guy, but now I'm at the point where I cannot even backout of the now bad deal without them trying to keep the deposit. I do not wish to back out and want to honor the agreement I made. It's built how I want it and I did agree to it....BUT, I want to petition GM to eliminate the retention policy. If I get in a pinch and need to sell in 3 months I cannot without the "blacklist" and cannot without the warranty being voided, further tanking the car's value. And even if I sold the car the very next day and didn't care about those 2 things I would likely lose money. The policy is no longer a need.

I'm happy to make this appeal to Mr. Bell or anyone else at GM if anyone has a correct contact as @soulsea did long ago, but would like to see if anyone else would like to stand with me here that also has a 2024 order where they previously agreed to a markup and deposit and I can cc you. And Soulsea, if you could DM me his email address, I'd be happy to take it offline.

Thanks

416vette

You may as well enjoy the car...

m48xhp

I will, thank you. But in the spirit of this thread, and to also help all future Z06 owners, I think its fair to get this removed.

416vette

It does seem to be working as intended.

m48xhp

it did. and has now run it's course. time for it to be removed.

soulsea

I think you’re correct. If the thing is wholesaling anywhere close to sticker then the policy becomes moot. It’s been a while so I don’t know if he’ll still respond to me but I’ll reach out to him to plant the seed.

m48xhp

that would be great. I actually found his email from previously looking into something else unrelated. But thank you for your help on this matter.

RiptideHTC

GM has not made one intelligent decision since the C8 reveal.
Do any of you really think they're going to start making intelligent common sense decisions now?

23/C8Z

6 mos? Flippers. Deal with it.

m48xhp

no one is flipping for a profit anymore. that's my point. now they are only hurting enthusiasts with this BS