General Motors has taken action to prevent the rampant resale of its new, low-production popular cars by rewarding owners of the Chevrolet Corvette C8 Z06 with a $5,000 incentive if they keep them for an entire year.
In a two-step strategy to stop resellers, a letter was issued to dealerships limiting the transfer of warranties during the first 12 months of ownership and prohibiting the seller from making future reservations on specific high-demand models.
GM North America President Steve Carlisle states, in the letter received by Corvette Blogger, that the new policy applies to all of the new Z06, both Hummer EV body type variants, and the recently introduced Cadillac Escalade V.
“When vehicles are quickly resold, particularly by unauthorized dealers or other resellers that do not adhere to GM’s standards, the customer experience suffers and GM’s brands are damaged,” reads the letter.
GM has devised one of the most rigorous measures to stop the flipping of low-volume, high-demand vehicles when combined with the rewards scheme for the Z06.
It demonstrates a clear focus on limiting the secondary market for the first year of popular enthusiast vehicles available on the market, which could, in theory, lead to a reduction in added dealer markups and a return to some semblance of normalcy in the ordering process for such vehicles.
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