The 2022 Kia EV6 has a starting price of $40,900. With an available Federal Tax Credit, Kia estimates this electric crossover could have a price as low as $33,400. But, what the brand is saying and what is actually happening on the ground with Kia’s new EV crossover are two different things. Consumers are reporting massive dealership markups, that is, if the Kia EV6 is available at a dealership at all. So, why are these markups happening, and are they avoidable?
What’s the deal with dealership markups?
Not every vehicle can be had at MSRP, depending on market conditions and profit margins, prices can easily exceed what is recommended by the manufacturer. For the 2022 Kia EV6, these markups have been widespread. And they make buying this EV crossover a difficult task.
Reports from Cars Direct claim that some buyers are seeing markups in excess of $20,000. And that quickly negates things like the available tax incentives to lower the price of new EV models.
Why is the 2022 Kia EV6 being marked up?
There are a number of factors that go into determining the final price of a car at a dealership. Apparently, the profit margin for a dealership when it comes to the EV6 is fairly slim. And that, paired with current inventory shortages negates the buyer’s ability to haggle down a more favorable price.
With no firm rules on whether or not a dealership needs to sell the 2022 Kia EV6 at its MSRP, dealers have more control over the final price. And that means consumers may be unlikely to pay the sticker price or below for this electric vehicle.
The 2022 Kia EV6 is an EV with added costs
With the success the EV6 has seen from awards and praise from critics, it makes sense that Kia dealerships want to get what they can for this exciting EV crossover. That said, these massive markups could end up causing the consumer to sour on the Kia brand. And as Kia continues forward with its plans to add more EVs to the lineup, we cannot imagine that is something that the brand wants.
These markups that the EV6 is seeing have become so notable, that Kia fans have begun to track them on the forums. These numbers can be seen on the Kia EV Forums, and members seem fairly frustrated with the dealership experience.
Should you buy the Kia EV6?
The Kia EV6 is a competent EV crossover that offers legitimate practicality. But, with dealership markups, for many, the value proposition may not be there. This is unfortunate because the EV6 has already won multiple awards and impressed critics. Which is not necessarily an easy thing for a new vehicle to do.
Hopefully, as more Kia EV6 models arrive at dealerships, markup rates will go down. Allowing more people to get behind the wheel of this EV crossover. The 2022 EV6 has multiple trim levels and is even available with all-wheel drive. Even with the ridiculous pricing, some buyers still find the new EV6 to be worth buying.