Toyota Dealers Prius Price Gouging
While many of the domestic automakers offered steep price cuts on top of “Cash for Clunkers”, many buyers chose to purchase vehicles from foreign manufacturers instead. Leading the pack was Toyota, whose Corolla was the leading vehicle purchased under the program by the first week of August.
DailyTech has an exclusive inside look at some Toyota dealers’ so-called “market value adjustments” (MVAs) on popular vehicles such as the 2010 third-generation Prius hybrid. With the typical sticker price of the Prius coming it at around $26,000, many dealers across the country have been charging $3,000 to $10,000 markups, more than offsetting the “Cash for Clunkers” rebate of $3,000 to $4,500 in some cases.