01-18-2008, 09:16 PM | #99 |
Drives: 2006 Cobalt, 2004 Taurus wagon Join Date: Oct 2007
Location: California
Posts: 3,812
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There are plenty of alternatives to filling your own car up with gas though (just as there are plenty of alternatives to buying a Camaro as soon as it comes out). Gas demand is relatively inelastic, but not completely inelastic.
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01-19-2008, 12:19 AM | #100 | |
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price gouging noun pricing above the market price when no alternative retailer is available
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Who cares about the Blue Oval crowd and their little Ponys? We're getting our Camaro back-and it'll be Supercharged!-MDAII Team LS3 |
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01-19-2008, 12:27 AM | #101 |
I used to be Dragoneye...
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Price Gouging exists...and there is no excuse for it. I don't like to think about why people pay so much above MSRP, otherwise respected as what the car is worth (nevermind how much people feel it's worth...) because I go all cross-eyed, and develop slurred speech for a time.........
1-2k dollars, okay; maybe - But 20k+ over MSRP for a Challenger, c'mon!?! And as for your Corolla statement....um, I could sworn that was due to inflation...you know - the decrease in relative value of the dollar, which in turn, drives up the prices of everything. But - if it's really true that we've all just decided to pay 10's of thousands of dollars more for a car over the years. I wanna see the agreement I signed, because I wouldn't have agreed to that - I'd love a new car for $1500! I'm not trying to rip on you - maybe I just read your post wrong. |
01-19-2008, 12:46 AM | #102 |
Drives: 2006 Cobalt, 2004 Taurus wagon Join Date: Oct 2007
Location: California
Posts: 3,812
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Price gouging doesn't exist, because by definition there can be no alternative. Well there are many many many Chevy dealerships in the US (not the mention the world) and beyond that many many many many many competing products. So if people pay over MSRP, that is their choice, and if dealers accept that money, well why not? Mark ups over MSRP can exist only when demand exceeds supply. Under such a situation MSRP pricing does not provide a proper rationing mechanism. So the dealers must choose another rationing mechanism. They could do "first come, first serve" but then they are not making the full economic gain that the market allows. Very inefficient.
The other option is markups. So suppose there are 5000 people who are after 4000 cars at an MSRP of $30,000. 1000 of those customers are willing to pay $40,000. So they pay $40,000 and get the first 1000 Camaros. Now the dealer has 3000 cars at $40,000 but no customers willing to pay that price. So the dealer drops the price to $35,000. Now 2000 more customers are willing to pay that price to get cars. So now we're down to 1000 cars and no additional customers willing to pay that price. There are 2,000 customers who are willing to pay a lower price. 1000 of those customers are willing to pay $31,000. The other 1000 customers aren't willing to pay that price, so they go elsewhere. So the dealership gets rid of the last cars. The product has been rationed so demand perfectly matches supply. The dealer makes maximum profit, and no one paid more than they were willing. So where's the problem? What's immoral about that? There is certainly nothing illegal or deceptive about it? MSRP stands for Manufacturer's Suggested Retail Price. It doesn't mean the fair price for the vehicle. It doesn't mean what the vehicle is worth. It is just a number provided as a guideline to start building market price off of. It is just the manufacturer's best guestimate of a price that will give dealers a decent profit and what the market as a whole is likely willing to pay for the car. |
01-19-2008, 01:04 AM | #103 | |
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Who cares about the Blue Oval crowd and their little Ponys? We're getting our Camaro back-and it'll be Supercharged!-MDAII Team LS3 |
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01-19-2008, 01:10 AM | #104 |
www.Camaro5store.com
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^And if you've searched and searched and searched, but still can't find a dealer willing to sell at MSRP (Say all are 5K over MSRP)? Since we are going by definition, there would not be an alternative (to purchase at MSRP) and the dealers selling at thousands over MSRP would be "price gouging."
Could this be possible? I mean, could it?...that you possibly couldn't find a dealer selling at less than 5K over invoice? This, FOR FACT, could be a possibility (not likely to happen, though). But, if it did....PRICE GOUGING. Realistically, I see what you are saying (about selling them off in decreasing prices). But, if you wanted to get into GT500 and the sales guy said, "Fork over $50K...PLUS another 20K on top of that and it'll be yours!"...with that "I'm gonna screw you out of 20K because I can" smile. C'mon. You don't think this guy is screwing you? You don't think that's price gouging? Sure, you might have the 50K to pay MSRP, but ...you ain't gonna be getting into one of those!!! Don't recall anyone selling them at MSRP as an alternative. |
01-19-2008, 11:48 AM | #105 | |
SoCal Race Team #13
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That said, thats why the GT500 and the first year Challenger are limited production. It creates HIGH desirability with low supply which = high prices. We wont have that problem with the camaro so FEW if ANY dealers will be able to get away with large markups for more than 2-3 months (when supply over takes demand). With the camaro, don't worry, chances are you wont have to pay a markup unless your first in line at your dealer and he's the type to squeeze that extra money. And I always chalk that up to the "I gotta be first" syndrome.
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A.K.A - Diarmadhi (old handle) - So much to do.. So little money
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01-19-2008, 01:02 PM | #106 |
Drives: 2009 WhiteHot G8 Gt Join Date: Jan 2008
Location: California
Posts: 71
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I was talking with my uncle about how I have to get this car and I am so excited. Well he tells me that it is going to be too expensive, he has a couple friends that went down to the local dealership and put their $1000 down payment on a $56k Camaro. I sure hope that's not going to be even close to the price for a V8(base model if more than 1). If so I am gonna ride my Saturn to 200k miles and drive off into the sunset. Somebody please tell me this is a crock.
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01-19-2008, 02:43 PM | #107 |
SoCal Race Team #13
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Its crock, the base v6 and base v8 will have to compete with the mustang price tag. That being said, i WONT say that a 56k camaro is imposible.. but it will be a special limited production. Not a normal mass produced version.
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A.K.A - Diarmadhi (old handle) - So much to do.. So little money
Owner : Fast-Stache Industries LLC |
01-19-2008, 04:17 PM | #108 |
Pillaging Viking
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bowtiedriver, I panicked a bit like that a few weeks or so ago when I heard of a similar price at a dealer here in Sweden. But that was before I heard that it was being brought to Europe as a standard model here too. And before that I knew that it was being mass produced. So yeah, that price is probably what some limited editions are going to sell for, but also for those who NEED to be first with having one. I'd say it's a pretty sure bet that it's going to be down to about 28-30K for a base V8 pretty quickly.
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05-13-2008, 11:01 AM | #109 | |
Drives: 2005 GTO, CAI & exhaust Join Date: May 2008
Location: Texas
Posts: 7
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05-13-2008, 12:47 PM | #110 | |
www.Camaro5store.com
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Second, did he say they were going to mark them up 2-5K? If so, add that name of the dealer to the price gougers....name and address if you can. Seeing as though WE HATE dealers who gouge, we want EVERYONE we can, to know about thier "customer service." |
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05-13-2008, 01:54 PM | #111 | |
Drives: 2005 GTO, CAI & exhaust Join Date: May 2008
Location: Texas
Posts: 7
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Ill do that. |
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06-09-2008, 05:39 AM | #112 |
Drives: 05 Ford Mustang GT Join Date: Apr 2007
Location: Lexington, KY
Posts: 15
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I know a guy that leased his GT500 with the dealer markup added in. If I wanted one of those cars I would be waiting at the dealership when it is turned in because it will probably sell for high 20's.
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