GM: Price gouging creates ‘negative press' (like this)

As Ford Motor Co. tries to stop dealers from charging more than sticker price on the F-150 Lightning, General Motors is threatening to withhold shipments of the Chevrolet Corvette Z06 and upcoming electric vehicles over profiteering shenanigans.

GM has learned of "a small minority of bad actors" demanding extra reservation fees, making unauthorized deals with brokers and charging "far in excess of MSRP," Steve Carlisle, the automaker's North American president, said in a letter posted on Corvette Action Center last week. Such actions "do not support a positive sales experience for our customers" and in some cases violate terms of dealers' franchise agreements with GM, Carlisle said.

"This puts our collective interests at risk and generates negative press that reflects poorly on GM's brands and your dealerships," he wrote.

Carlisle's letter comes several weeks after Ford sales boss Andrew Frick said dealers overcharging for the electric version of the F-150 could have their allocation reduced. Some dealers have reportedly been marking up the pickup, which is scheduled to go on sale this spring, by as much as $30,000, though Ford says the vast majority are charging around sticker price.

The 2023 Corvette Z06, due out this summer, is expected to start at about $90,000, though Chevy hasn't provided official pricing.

The right to buy the first one, once it actually exists, is up for auction Jan. 29, and is likely to fetch six or possibly even seven figures — with no complaint from GM and the proceeds going to help military families.