[Rick Altman]

I am tracking several I5 Limited models arriving into California and dealer markup is tantamount to assault. One of them told me "MSRP + $7,474 + accessories + taxes/licensing fees."

Clearly, I will not be patronizing that dealership. And perhaps I will not be buying a car at all right now. I have two topics to raise here:

1. Is Hyundai corporate powerless to act here? Their official position is that dealers should not charge over MSRP, but I know of no reporting mechanism or enforcement mechanism.

2. The dealerships would be happy for consumers to compete against one another and swallow those prices. Meanwhile, we consumers need to find strength in numbers and that probably means banding together beyond this or any other single forum. We need a Facebook page, where we can share who is treating us well and who poorly. Does such a thing exist?

Meanwhile, let's continue to share information here on this forum about dealerships that are more reasonable. I could sure use one right about now...

 

[Apprunner]

I am tracking several I5 Limited models arriving into California and dealer markup is tantamount to assault. One of them told me "MSRP + $7,474 + accessories + taxes/licensing fees."

Clearly, I will not be patronizing that dealership. And perhaps I will not be buying a car at all right now. I have two topics to raise here:

1. Is Hyundai corporate powerless to act here? Their official position is that dealers should not charge over MSRP, but I know of no reporting mechanism or enforcement mechanism.

2. The dealerships would be happy for consumers to compete against one another and swallow those prices. Meanwhile, we consumers need to find strength in numbers and that probably means banding together beyond this or any other single forum. We need a Facebook page, where we can share who is treating us well and who poorly. Does such a thing exist?

Meanwhile, let's continue to share information here on this forum about dealerships that are more reasonable. I could sure use one right about now...

That riverside dealer has quite a markup but will probably sell it at that price. If they can sell it at that price, they should right...capitalism.

 

[Ioniq5 Guy]

Very few Limited models are being produced. The dealers are taking advantage of that.
I placed a deposit on an SEL (in transit) 2 days ago, and that dealer got me for a markup of $3,500 + $800 dealer fee.
He said if I don't buy it, the guy behind me will. And sadly, he's right.
It is in transit, and should arrive in about a week I was told. It was the color combo I was looking for,
so against my better judgement, I shelled out a $1k deposit. I also have a Tesla Model Y on order,
but those clowns keep changing estimated delivery dates, so you cannot depend on their info. It changes
regularly - sometimes for the better, other times for the worse. I didn't want to have to be concerned that
when my Tesla did arrive, about quality problems. I recently sold my 2021 Model Y to get a '22. I got
about $7k more for it when I sold it than what I paid for it, so figured I'd move up one year for not that much more $$.
I placed my order on Dec. 19, and my estimated date is currently May 21 - July 2. If it came with misaligned panels
or common problems I would have refused delivery and then made to wait many more months for a replacement.
I've owned many Hyundai's and 2 Genesis G80's and can depend on their quality. The I5 I'm getting is about
$9k less than the Tesla on order, but doesn't have the same options. To me, the glass roof and AWD are something
I will not miss. Plus I think the I5 is a much better looking EV.

 

[nXt]

That riverside dealer has quite a markup but will probably sell it at that price. If they can sell it at that price, they should right...capitalism.

Riverside definitely sells with huge markups. I went there January 30 and they had Limited AWD Cyber Grey that I have reserved up north. They wanted $5k markup + $3k addons. They wouldn't budge. They even told me I'm a valued customer since I've purchased multiple cars from Riverside Metro Auto Group and I do all my services there.
Anyhow, I walked. The next day I check their website and it's gone. So someone bought it that day.

 

[Apprunner]

Honestly, its all supply and demand. Its downright stupid for a dealership to not take economic advantage when they can...its not like the dealers are doing great. They are getting pinched by the shortages and kinda need to sell cars at a markup to make ends meet. If I owned a dealership, I'd do the same thing as its the rational thing to do.

 

[Dave Kaye]

I was quoted an $8K markup on a Limited RWD at the dealership in Gilroy. The San Jose dealer wants $5K markup but still doesn't have RWD Limited's. Between markup and supply I'll have to stay with my ICE sedan for quite a long time. The concierge service calls me occasionally, but they are useless. I believe they are outsourced.

 

[Cmn71]

I am tracking several I5 Limited models arriving into California and dealer markup is tantamount to assault. One of them told me "MSRP + $7,474 + accessories + taxes/licensing fees."

Clearly, I will not be patronizing that dealership. And perhaps I will not be buying a car at all right now. I have two topics to raise here:

1. Is Hyundai corporate powerless to act here? Their official position is that dealers should not charge over MSRP, but I know of no reporting mechanism or enforcement mechanism.

2. The dealerships would be happy for consumers to compete against one another and swallow those prices. Meanwhile, we consumers need to find strength in numbers and that probably means banding together beyond this or any other single forum. We need a Facebook page, where we can share who is treating us well and who poorly. Does such a thing exist?

Meanwhile, let's continue to share information here on this forum about dealerships that are more reasonable. I could sure use one right about now...

I got bitten in suburban Chicago with a $2k markup — plus our ridiculous city taxes — but just kinda shrugged. Sadly the limited supply is what it is. But that $7k-plus is pretty egregious.

 

[Photobird7]

I paid $3000 over MSRP for a Limited with the exact color combo I was looking for. For me, it ultimately came down to supply and my demand. All my life I've taken advantage of the big incentives and discounts and negotiating cars down from MSRP. I figured that in a situation where the supply was significantly limited, and I personally really, really wanted this car, I was willing to pay the premium. I walked away from other dealers who wanted more premium than I wanted to pay, but I ended up finding a premium I could accept. My larger concern is that as we move into the future, manufacturers might artificially create low supply so they and their dealers no longer have to offer incentives and discounts. That would affect everyone, not just a subset who want specific models.

 

[zamafir]

Oh man if you think that's crazy I wont begin to tell you the markups on the rav4 prime since long before the IONIQ ever existed. over 80% of new cars experience markup, regardless of brand or powertrain, this is the car market right now, I don't know what to tell people except wait if it bothers them. It's akin to being shocked at the housing market, I dont know what to tell folks except wait it out. 🤷‍♂️

 

[fbitz777]

makes no sense...I bought a Limited at MSRP a month ago and today another dealer has received another one I had put a small deposit. And I am on a list for another one in May.

 

[BillinChico]

Very few Limited models are being produced. The dealers are taking advantage of that.
I placed a deposit on an SEL (in transit) 2 days ago, and that dealer got me for a markup of $3,500 + $800 dealer fee.
He said if I don't buy it, the guy behind me will. And sadly, he's right.
It is in transit, and should arrive in about a week I was told. It was the color combo I was looking for,
so against my better judgement, I shelled out a $1k deposit. I also have a Tesla Model Y on order,
but those clowns keep changing estimated delivery dates, so you cannot depend on their info. It changes
regularly - sometimes for the better, other times for the worse. I didn't want to have to be concerned that
when my Tesla did arrive, about quality problems. I recently sold my 2021 Model Y to get a '22. I got
about $7k more for it when I sold it than what I paid for it, so figured I'd move up one year for not that much more $$.
I placed my order on Dec. 19, and my estimated date is currently May 21 - July 2. If it came with misaligned panels
or common problems I would have refused delivery and then made to wait many more months for a replacement.
I've owned many Hyundai's and 2 Genesis G80's and can depend on their quality. The I5 I'm getting is about
$9k less than the Tesla on order, but doesn't have the same options. To me, the glass roof and AWD are something
I will not miss. Plus I think the I5 is a much better looking EV.

There are a LOT of features missing on the SEL. Want to do L2V charging? Gotta get a Premium. I have an SE and there are less still on that trim. Many of the systems featured on the Hyundai ads and YouTubes are not included on less than the Premium. Caveat emptor.

 

[BillinChico]

I am tracking several I5 Limited models arriving into California and dealer markup is tantamount to assault. One of them told me "MSRP + $7,474 + accessories + taxes/licensing fees."

Clearly, I will not be patronizing that dealership. And perhaps I will not be buying a car at all right now. I have two topics to raise here:

1. Is Hyundai corporate powerless to act here? Their official position is that dealers should not charge over MSRP, but I know of no reporting mechanism or enforcement mechanism.

2. The dealerships would be happy for consumers to compete against one another and swallow those prices. Meanwhile, we consumers need to find strength in numbers and that probably means banding together beyond this or any other single forum. We need a Facebook page, where we can share who is treating us well and who poorly. Does such a thing exist?

Meanwhile, let's continue to share information here on this forum about dealerships that are more reasonable. I could sure use one right about now...

I got my SE from Chico Hyundai. No markup. It came with a cargo net and a first aide kit that I did not want...but not too expensive. The other day at the local Electrify America station a Porsche Taycan pulled in along with a brand new I5. Talks with them a bit. They drove in from the Bay area I believe to purchase the I5, and needed to recharge the Taycan.

 

[Dougie01]

Dealer in Colorado Springs is asking $10,000 over MSRP for all models. I think I got him talked down to $8000 for a RWD version because they are not in as much demand in Colorado. But he has several IONIC 5 cars sitting on the lot so I don't think this situation is going to hold much longer.

Meanwhile, ID.4 is impossible to get, but if you do get one, VW is requiring dealers to sell at MSRP, and if you lease they give you the $7500 federal tax incentive up front. Hyundai corporate is messing this up.

I'm waiting until the craziness passes.

 

[Lin19687]

Meanwhile, let's continue to share information here on this forum about dealerships that are more reasonable. I could sure use one right about now...

We are sharing and there are a number of threads already on this. A bunch of posts that are specific to CA.
Someone listed who sells for MSRP but you are not likely to find it for a limited

 

[zamafir]

Meanwhile, ID.4 is impossible to get, but if you do get one, VW is requiring dealers to sell at MSRP, and if you lease they give you the $7500 federal tax incentive up front. Hyundai corporate is messing this up.

Nope.

This is why I passed on one long before I started searching for an IONIQ5.

Dealers are selling reservations at MSRP.

Once a reservation is declined and it is open to the general market the sky is the limit.

I was offered $3,500 markup to buy a gray gradient Pro S in Jan and my parents were offered $10,000 markup for a white gradient Pro S in Feb and have sense moved to the Polestar 2 given how expensive the ID.4 is for what it is.

 

[GreginAZ22]

Honestly, its all supply and demand. Its downright stupid for a dealership to not take economic advantage when they can...its not like the dealers are doing great. They are getting pinched by the shortages and kinda need to sell cars at a markup to make ends meet. If I owned a dealership, I'd do the same thing as its the rational thing to do.

The thing is dealerships are doing great. They have made record profits the last 2 years. They are not doing this because they have to, they are doing this because they can.

 

[zamafir]

The thing is dealerships are doing great. They have made record profits the last 2 years. They are not doing this because they have to, they are doing this because they can.

Yup, and they are doing it regardless of brand, of form of motivation, etc, which is why I likened it to the housing market.

If someone is upset with the markups and have the ability to go to a place with low demand they should, that seems to be the only way to get a top trim vehicle quickly, or just wait.

**** Tesla was charging a 12k premium to get a car on time vs waiting, so yeah, it's the norm.

 

[Dougie01]

Once a reservation is declined and it is open to the general market the sky is the limit.

Correct. I oversimplified it. Agree that the de-contented US ID.4 is perhaps less competitive than the Hyundai.

 

[nyc_rock]

You can understand the dealerships position in all this. They have to make money and they probably have 40% less cars to sell because of supply chain issues.

 

[evermore]

As much as I like the Ioniq 5, I am not willing to pay markups. Ford is holding the line on prices on the Lightning (I am on the waiting list for it) but another vehicle you might want to consider is the Polestar 2 which, because of the markups, is actually cheaper than an Ioniq 5.