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CA Chevy dealer allegedly adds $50K 'market value adjustment' to 2015 Z06

It seems to happen with every eagerly anticipated new car – dealerships, recognizing that crushing demand far outstrips the initial limited supply of a new model, inflate the price via a so-called "market value adjustment." We've seen it in the past with a number of new models, and now it's happening again with one of the Detroit 3's hottest vehicles. A dealership in Roseville, CA, outside of Sacramento, has allegedly attached a staggering $49,995 market value adjustment to a 2015 Corvette Z06. We say allegedly because, despite the evidence uncovered by BoostAddict, John L. Sullivan Chevy's online inventory listing doesn't display the price premium of the Z06 in question, a (normally) $93,965 model with the top-end 3LZ trim. It's unclear if either of the dealer's other Z06s, both 3LZs, one of which is in transit, will receive similar price adjustments. Now, legally, Sullivan Chevy isn't doing anything wrong here. Dealerships are under no obligation to observe a manufacturer's suggested retail price, a point General Motors' spokesperson Ryndee Carney pointed out to Autoblog via email. "For the Corvette Z06, Chevrolet has established a Manufacturer's Suggested Retail Price we feel is right for the market. Actual transaction prices, however, are the province of the dealer," Carney said, adding that a dealer zone manager will be discussing the price hike with the dealership. While we also reached out to the dealership over both the market value adjustment and the price of the Z06 as it appears on the company's website, we've yet to hear back as of this writing. Should they reply to our inquiries, we'll be sure to update you. Until then, we'd like to hear what you think about this case. Is Sullivan Chevy simply pricing the cars as high as it thinks the market can bear, or is this a cash grab for an hotly anticipated product? Have your say in Comments.

U.S. new-vehicle sales in 2018 rise slightly to 17.27 million [UPDATE]

DETROIT — Sales of new vehicles in the U.S. rose slightly in 2018, defying predictions and highlighting a strong economy. Automakers reported an increase of 0.3 percent over a year ago to 17.27 million vehicles. The increase came despite rising interest rates, a volatile stock market, and rising car and truck prices that pushed some buyers out of the new-vehicle market. Industry analysts and automakers said strong economic fundamentals pushed up sales and should keep them near historic highs in 2019. "Economic conditions in the U.S. are favorable and should continue to be supportive of vehicle sales at or around their current run rate," Ford Chief Economist Emily Kolinski Morris said after the company and other automakers announced their sales numbers Thursday. That auto sales remain near the 2016 record of 17.55 million is a testimonial to the strength of the economy, said Mark Zandi, chief economist at Moody's Analytics. The job market, he said, has created new employment, and wage growth has accelerated. "That's fundamental to selling anything," he said. "If there are lots of jobs and people are getting bigger paychecks, they will buy more." The unemployment rate is 3.7 percent, a 49-year low. The economy is thought to have grown close to 3 percent last year, its best performance in more than a decade. Consumers, the main driver of the economy, are spending freely. The Federal Reserve raised its key interest rate four times in 2018 but is only expected to raise it twice this year. Auto sales also were helped by low gasoline prices and rising home values, Zandi said. It all means that people are likely to keep buying new vehicles this year even as they grow more expensive. The Edmunds.com auto-pricing site estimates that the average new vehicle price hit a record $35,957 in December, about 2 percent higher than the previous year. It will be harder for automakers to keep the sales pace above 17 million because they have been enticing buyers for several years now with low-interest financing and other incentives, Zandi said. He predicts more deals in the coming year as job growth slows and credit tightens for higher-risk buyers. Edmunds, which provides content, including automotive tips and reviews, for distribution by The Associated Press, predicts that sales will drop this year to 16.9 million.

2.0-liter turbo four reportedly returning to Chevrolet Equinox line-up for 2022

Chevrolet's popular Equinox crossover will enter the 2021 model year with comprehensive updates and a turbocharged, 1.5-liter four-cylinder as its only available engine. The 2.0-liter turbo four offered through 2020 is allegedly leaving the line-up, but it will be replaced for 2022 with a newer engine that produces slightly less power while returning better fuel economy, according to a recent report. Called LSY internally, the new 2.0-liter turbo four already powers the Cadillac XT4, among other models in the General Motors portfolio. Enthusiast website GM Authority learned it will deliver 237 horsepower at 5,000 rpm and 258 pound-feet of torque from 1,500 to 4,000 rpm. For context, the 2.0-liter available through 2020 (known as LTG) made 252 horses and 260 pound-feet of twist, and the 1.5-liter posts figures of 170 and 203, respectively. As a trade-off for the slight drop in horsepower and torque, the LSY is smoother, quieter and cleaner than the LTG it replaces. Transmission options remain unconfirmed, but the four-cylinder will likely shift through a nine-speed automatic. Front-wheel drive will come standard, and all-wheel drive will be offered at an extra cost. Chevrolet hasn't commented on the report; it hasn't even confirmed the Equinox is losing the LTG engine for 2021. If the rumor is accurate, details about the 2022 Equinox should be released during the first half of 2021. GM Authority added the GMC Terrain, which is closely related to the Equinox, will receive the new engine for 2022 as well. Both should have gotten it for 2021, but the on-going global pandemic delayed its launch. Related Video: