Car buyers and market watchers are used to seeing big markups from dealers on hard-to-get models – early editions of popular cars, usually, or models produced in small numbers, or both.
It’s no shock to see the Ford Bronco or the Chevrolet Corvette grossed up by thousands of dollars. Motor trend reported $ 30,000 markups on the Broncos, for example. The C8 Corvettes are also marked like crazy.
While boring, it’s somewhat understandable, given how the franchise and dealership system works, as well as how grassroots and supply and demand capitalism work. You don’t have to like the phenomenon, but the logic behind its existence is solid.
Still, we’re pulling the line at a markup of nearly $ 6,000 from a Mitsubishi Mirage.
You read correctly. A Tennessee dealership scored a Mirage – a freakin ‘Mitsubishi Mirage – up nearly $ 6,000 from its Manufacturer’s Suggested Retail Price (MSRP), charging $ 24,260 for one after an extra 5,995 $.
This is the result of the bigger issues surrounding the industry at the moment. Inventories are at historically low levels, in part because of the semiconductor chip shortage, and new and used car prices are all kinds of insane.
Still, it’s a bit shocking to see this kind of markup on a car that is a) produced in sufficient numbers to be far from “rare” and b) marketed as basic transportation for those who don’t. can’t afford much or just want the cheapest car they can get, regardless of their income.
The Mirage is not in great demand, and it is not uncommon or built in small numbers. So it’s either a dealership trying to get as much as it can from every sale, knowing the supply is tight, or a store going after low-income consumers, some of whom may have precarious credit, like Jalopnik asserts. Or it’s both.
Either way, this is another reason not to buy a car at short notice unless you absolutely have to.
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