Can you say, ‘markup’?
Right now, the first examples of the 2020 Toyota Supra are making their way onto dealer lots. Toyota’s suggested retail price for this vehicle starts at $49,990 for a base 3.0 model, rising to $53,990 and up for a 3.0 Premium or $55,250 for a Launch Edition. Now, if you expect to walk into a dealer and actually pay that price for a brand new Supra right now, I have just two words for you: good luck. Autoblog reported one Toyota dealer in Baltimore is asking $100,000 — yes, six figures — for a 2020 Toyota Supra Launch Edition.
It’s not unusual for dealers to mark up hot new products. After all, why not make as much money as possible if the dealer knows people will pay it? That’s the free market, and the MSRP is, as its name makes clear, just a suggestion. The Honda Civic Type R and Jeep Gladiator are two other examples of the practice. But seriously? Double the price?
Apparently dealers are using the $2 million Supra sold at auction as justification for their markup. According to user Psychodo on the SupraMkV forums:
“So I received some wonderful news via email from Larry H Miller Toyota in Colorado Springs:
‘I just want you know that we are going to get our first Supra this July. This Supra has already sold, but we will get 7 more this year. Most of them are expected to sell before they get here. The first Supra sold this year sold for more than $2,000,000 above MSRP at an auction. We are pricing our Supra at $50,000 over MSRP. Please, let me know if you would like to claim your Supra before it sells.'”
Would you pay six figures for a Supra?
You may think that’s crazy, at least if you’re anything like me. If the dealer is truthful in their statement, though, someone did pay double the MSRP just to have a Supra before anyone else. Our friend Patrick George over at Jalopnik did helpfully point out the folks at SupraMkV forums who are tracking dealers without markups. So, if you’re in the market for a Supra, it’s a good place to look. As of January, Larry H. Miller Toyota apparently wasn’t marking up the Supra, but perhaps they had a change of heart.
They’re not all this badly overpriced.
Fortunately, not all dealers are pricing 2020 Toyota Supra models this high. Searching some new car sites can net plenty of examples under $60,000. Yes, they’re still marked up, but they’re not charging double the price.
I hope these absurd markups wind up as the exception rather than the rule. Nevertheless, it pays to shop wisely. If your local Toyota retailer is giving you a bad deal, it may be worth looking elsewhere.
Let us know some of the deals (good or bad) you’ve found in the comments below!