Looks Like 50%+ Markups Are Becoming The Norm For The 2023 Toyota GR Corolla


The other day, we reported on a Toyota dealer selling a GR Corolla with a roughly 50 percent markup over MSRP, and as more units of the desirable hot hatch begin reaching dealers, it was only a matter of time before we began to see similarly absurd “market adjustments”.

The latest instance comes from a Toyota dealer in Virginia, who, like the last dealer, is also applying a significant markup to the car’s MSRP. The price they’re asking? A whopping $60,037.

See Also: Honda Dealership’s Payment Plan And Markup On Civic Type R Would End Up Costing $90k

That price would be one thing if we were talking about the Morizo Edition ($51,420 base MSRP) or even the Circuit Edition ($43,995 base MSRP), but the car they have listed for sale is the base Core model, which as a starting MSRP of just $36,995. Given that, the dealer’s asking price amounts to a staggering 63.9 percent markup. Even if we were to bring that price up to $40,000 flat to account for some options and fees, the number this Toyota dealer is asking would still be a 51.5 percent markup.

Related: Nissan Dealer Lashes Out Defending Z’s $130,000 Price, Asks “Why Should This Car Have No Markup?”

Pictured is a Toyota GR Corolla Morizo Edition. It is not the same vehicle for sale in the story.

With all that being said, we can at least begin to understand why the car is such a hot commodity that dealers are marking it up to almost twice its original price.

For starters, its turbocharged 3-cylinder engine makes an impressive 300 hp (223 kW) and 272 lb-ft (370 Nm) of torque. Combine that with all-wheel drive, a manual transmission, and a mere 6,600-unit production run for the U.S., and you’re left with an instant cult classic that’s sure to become a collector’s item down the line.

That being said, we’d hope that whoever’s buying these cars, marked up or not, will end up using them for their intended purpose rather than letting them just sit in a garage for their entire life.


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