GV80 Dealer Pricing

TigerHawk

New member
2
1
3
Genesis Model Type
Genesis GV80
So... I was going to buy a 3.5T last week. Or better said was prepared to buy at advertised sticker. When I finally got a salesman to call me back, he said ‘Now is not a good time. We are asking over invoice because all dealers can. If you are not in a hurry, you should wait till summer or fall’. I said, Ok. I went back and looked at their webpage and it showed the MSRP as the price less a couple of possible discounts. So I called him back and said, “So you are telling me that what you have advertised is not correct.” He said “Yes. The manufacture makes them put MSRP on the web page, but they can charge whatever they want.” The MSRP was around $67,000. He told me they were asking $74,000. I said ‘No’. Now here is my view, this dealer has 7 GV80’s on their lot. They had the same 7 two weeks ago and they have the same 7 today. There is 10 inches of snow on the ground and it’s -3 degrees outside. Wouldn’t it be better to sell 3 at sticker than 0 at +$7k? Bottom line: I bought a 2021 Yukon SLT on Friday. I couldn’t be happier. Bye Genesis. No thank you!
 
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lutzb0y

Registered Member
30
9
8
Genesis Model Type
No Genesis Yet!
Yeah, but how many products are we aware of in which gouging takes place, especially brand names seeking to establish themselves? How many U.S. jewelers of repute tack on thousands of dollars to the stated price of a Rolex or an Omega watch? How many kitchen appliance dealers blithely add thousands to a Sub-zero refrigerator? Same re Leica cameras, etc. Their dealers are independent,too, are they not?
I’m sure they are acutely aware of this but unlike Tesla they don’t seem to have the will or moxi to bypass dealers or even regulate them better. There are business ways to deal with this. The main issue is that the brand perception suffers as a result.
 

lutzb0y

Registered Member
30
9
8
Genesis Model Type
No Genesis Yet!
There are large legal differences that are too complex to explain here. Summarized, some industry sectors can legally regulate the retail price of a product’s retail outlets/dealers. But the automobile industry is exempt from that thanks to many years of the National Automobile Dealers Association‘s (NADA) work on state and federal laws to protect dealers who were being seriously abused by manufacturers for a lot of years. Today, auto dealers have some quite unique laws protecting them as compared to most other retail businesses. Not saying it’s right or wrong, good or bad, but those are the facts that govern what a car manufacturer and a dealer can and can’t do. Doesn’t operate based on “logic” or “how it should be”. It’s based on laws.
It’s simple. To control the user experience you have to have control over all aspects of the lifecycle of the car. Product design manufacturing and sales and distribution and service. Tesla is the only one who has been able to do that to date and all the incumbents are now trying to catch up. I hope Hyundai learns.
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lutzb0y

Registered Member
30
9
8
Genesis Model Type
No Genesis Yet!
So... I was going to buy a 3.5T last week. Or better said was prepared to buy at advertised sticker. When I finally got a salesman to call me back, he said ‘Now is not a good time. We are asking over invoice because all dealers can. If you are not in a hurry, you should wait till summer or fall’. I said, Ok. I went back and looked at their webpage and it showed the MSRP as the price less a couple of possible discounts. So I called him back and said, “So you are telling me that what you have advertised is not correct.” He said “Yes. The manufacture makes them put MSRP on the web page, but they can charge whatever they want.” The MSRP was around $67,000. He told me they were asking $74,000. I said ‘No’. Now here is my view, this dealer has 7 GV80’s on their lot. They had the same 7 two weeks ago and they have the same 7 today. There is 10 inches of snow on the ground and it’s -3 degrees outside. Wouldn’t it be better to sell 3 at sticker than 0 at +$7k? Bottom line: I bought a 2021 Yukon SLT on Friday. I couldn’t be happier. Bye Genesis. No thank you!
GV80 is an amazing vehicle. Maybe worth waiting for until when the supplies improve? At this premium price point I hope Hyundai ups their supply game in order to make more money.
 

TigerHawk

New member
2
1
3
Genesis Model Type
Genesis GV80
GV80 is an amazing vehicle. Maybe worth waiting for until when the supplies improve? At this premium price point I hope Hyundai ups their supply game in order to make more money.
Too late for me. I’m driving a new Yukon now.
 

EdP

Supporting Member
SUPPORTING MEMBER
SUSTAINING MEMBER
9,204
5,015
113
Parrish, FL
Genesis Model Year
2018
Genesis Model Type
Genesis G80
I’m sure they are acutely aware of this but unlike Tesla they don’t seem to have the will or moxi to bypass dealers or even regulate them better. There are business ways to deal with this. The main issue is that the brand perception suffers as a result.
Has nothing to do with will or moxie. Write your congressman and get the laws changed. If you have business ways to deal with it let Hyundai/Genesis know. GM and Ford have tried in the past too.
 

nwhit

Hasn't posted much yet...
44
17
8
SoCal
Genesis Model Type
2G Genesis Sedan (2015-2016)
It’s simple. To control the user experience you have to have control over all aspects of the lifecycle of the car. Product design manufacturing and sales and distribution and service. Tesla is the only one who has been able to do that to date and all the incumbents are now trying to catch up. I hope Hyundai learns.
One of those cases where you need a more thorough knowledge of UCC, contracts, franchising, business law and, specifically, the very complex combination of both federal and state laws related to the automobile industry. We can all wish or guess about what Genesis should or could do, but the world doesn’t work that way. It’s complex. Spent decades in the automotive industry and what a company may wish to do is tightly controlled and constrained by law and other business regulations. Also, in the case of Genesis/Hyundai, they are also tightly constrained by international law and regulations/practices. Yes, would be nice if they could do what they originally thought they might be able to do regarding dealers, but they found out the expensive way that things aren’t all that easy or “flexible“. All part of the world of international business! Genesis doesn’t get what they want, and likewise, we don’t either.
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nellie1289

Registered Member
255
239
43
Portland, Oregon
Genesis Model Type
Genesis G70
The dealer I bought my G70 from is selling GV80's for 5500 off msrp, check them out. I recommend them. Kirkland Genesis in Seattle. Plainly listed on their website. These folks are straight shooters i have bought 3 cars from them.
 

hokies111

New member
9
1
3
Genesis Model Type
No Genesis Yet!
The dealer I bought my G70 from is selling GV80's for 5500 off msrp, check them out. I recommend them. Kirkland Genesis in Seattle. Plainly listed on their website. These folks are straight shooters i have bought 3 cars from them.
Interesting- according to Edmunds there's about 3k of markup in GV80s. Does anyone know what Genesis holdback is? If it's 3%, ~5k off should be the best possible deal where they break even and hope to make $$ in finance/service/or manufacturer volume bonuses. I imagine there are no manufacturer incentives.

Even on this car which they are discounting 5,800 - it seems likes they would lose money on it ... unless they are adding in a 1k processing fee which is very possible.
 

YEH

Registered Member
2,632
693
113
NYC/MD
I’m sure they are acutely aware of this but unlike Tesla they don’t seem to have the will or moxi to bypass dealers or even regulate them better. There are business ways to deal with this. The main issue is that the brand perception suffers as a result.

It’s simple. To control the user experience you have to have control over all aspects of the lifecycle of the car. Product design manufacturing and sales and distribution and service. Tesla is the only one who has been able to do that to date and all the incumbents are now trying to catch up. I hope Hyundai learns.

Genesis does so Canada and Australia, but are hampered here by state franchise laws.

And it's hardly just Genesis/the GV80 getting mark-ups.

The Telluride, RAV4 Prime, Bronco Sport (not even the real Bronco) have all had dealerships charging above MSRP.

There are RAM dealerships tacking on $50k to the 1500 TRX.

As for Tesla, they seemingly lower or up their prices every week.
 

Speeder

Registered Member
495
231
43
Quinton, NJ
Genesis Model Year
2021
Genesis Model Type
Genesis GV80
In January the GV80 was the third fastest selling vehicle in the US with the Telluride close behind at #5. This might explain the markups on the GV80 as well as the Telluride. I'm anxious to see the February numbers: The Fastest-Selling New and Used Cars in January - iSeeCars.com
In my area the supply of 3.5T Prestige models seemed to dwindle and the turnover of the 2.5 models has been a bit slow. There was a lull in the number of shipments to the Philadelphia port but it seems to have picked up this past week.

I've been watching the local (tri-state) dealers for several weeks looking for a specific combination.
 

DubaiRich

Registered Member
288
3
18
Napa, CA
Genesis Model Type
1G Genesis Sedan (2009-2014)
My question is, how are they arriving at the figure i.e $7k over MSRP or in the case of the TRX, $50k?
 

EdP

Supporting Member
SUPPORTING MEMBER
SUSTAINING MEMBER
9,204
5,015
113
Parrish, FL
Genesis Model Year
2018
Genesis Model Type
Genesis G80
My question is, how are they arriving at the figure i.e $7k over MSRP or in the case of the TRX, $50k?
It is what they think the market will bear.

This is nothing new. Thirty years ago the Honda Accord was selling over sticker, though not 7k.
 

jimmak

Registered Member
82
72
18
Genesis Model Type
Genesis GV80
I got bought one of the first first Honda Accords when they were released in 1976. My name was on a list. They came in three colors. When my name came up, i was told what color i was getting. There were no deals, but they didnt ask over list. I did manage to get $50 cash direct from the salesperson. The list was around $5300. The low fuel light went on as soon as i pulled off the lot.
My GV80 came with a full tank 😁
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