Despite Kia’s explicit request not to mark up prices, some dealers are adding as much as $7,000 over the Manufacturer Suggested Retail Price (MSRP) for the new Kia EV9 electric SUV. The EV9, Kia’s first three-row electric SUV, opened for orders in November after generating significant consumer interest with pre-orders, according to Erica Watson, Kia America’s VP of sales.
The EV9’s starting price of $54,900 is seen as a “wake-up call to the industry” by Kia. Recognizing the importance of maintaining price transparency, Kia urged dealers in November to avoid marking up the EV9. A letter from Kia, read by online auto research firm CarsDirect, emphasized the significance of the EV9 customer to the brand and the importance of price transparency in their purchase experience.
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Despite these efforts, dealerships are already marking up the EV9. According to CarsDirect, some dealers are promoting the 2024 Kia EV9 GT-Line with a $7,000 markup, listing a selling price of $83,315. Dealerships like Van Nuys Kia in Southern California are listing the EV9 GT-Line with an MSRP of $76,925, including $3,750 in Kia Customer Cash. However, without the incentive, the selling price exceeds MSRP by nearly $5,000.
While markups are common, especially for highly-anticipated EVs, Kia’s request for price transparency has not been universally followed. The report notes that Kia offered $2,000 for every smooth EV9 delivery, but ultimately, there is little Kia can do to enforce its request.
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Despite these challenges, Kia delivered over 1,400 EV9 models in the US last month as demand for larger EV SUVs increases. With ample rear legroom and more shoulder and legroom than competitors like the Tesla Model X, the EV9 is poised to be a strong contender in the electric SUV market.
