Quote:
Originally Posted by OldDartmouthMark
This is clearly a money-grab by the dealer. I wonder what Hyundai/Kia Canada thinks about that. They are clearly not benefiting in any way from this situation, especially with the negative press they are receiving through no fault of their own (the dealer is a franchise owner who purchases the vehicles from the company at a fixed price - they are trying to squeeze customers for more money by basically selling the cars to a 'higher bidder').
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In a way, they’re benefiting from the shortage because they don’t need to provide incentives or subvented rates to dealers. They’ll respond by raising the MSRP if they see this as a trend, as they’ve already done (Telurides and Palisades have seen a huge price jump). I think Toyota has already announced that they’re looking at having more dynamic pricing for MSRP, which Tesla is already doing (ie adjusting monthly or quarterly rather than yearly). The Koreans are more price focused and may resist as a selling point, but eventually will follow industry trends.
Personally, I wouldn’t buy a new car in this market, but I think deals are to be had on the used market. Inventory is building up and dealers are cutting prices on cars they bought for well over what they’re worth now.