GM’s new all-electric SUV is already in demand. The 2024 Chevy Blazer EV is being marked up by as much as $10,000 in some cases.
The 2024 Chevy Blazer EV is beginning to appear on dealership lots after the first models were shipped in July.
After officially revealing the electric Blaze SUV last summer, GM said it would be available in four trims. These included the 1LT, 2LT, RS, and SS models, plus an additional law enforcement-specific police pursuit vehicle (PPV).
The base 1LT model has since been dropped, as the 2LT is now the cheapest 2024 Blazer EV variant.
After opening orders for reservation holders last month, we learned the first two models would be the 2LT AWD and RS AWD, starting at $56,715 and $60,215, respectively.
Both models qualify for the full $7,500 EV tax credit, meaning the base 2LT trim can be bought for under $50,000. However, that’s only if the dealer doesn’t mark it up.
The 2024 Chevy Blazer EV is being marked up at dealers
According to an analysis of national inventory data from CarsDirect, the 2024 Chevy Blazer EV is being marked up, with some citing high demand. One Mukwonago, Wisconsin dealer has a 2024 Chevy Blazer EV RS listed at $70,215, or $10,000 over MSRP.
The dealer claims market adjustments are based on supply and demand “as well as the current market situation.”
And this is not uncommon; several dealers have the electric SUV listed for over $70,000. Dealerships in California and Illinois are also offering the 2024 Chevy Blazer EV RS at those prices. A dealer in California with the model listed at $71,161 is shown above.
Electrek’s Take
Is a $10,000 markup on the Blazer EV justified? The electric SUV is still very new to the market. Inventory data (from CarsDirect) shows around 550 listings in the US compared to over 7,600 for the gas-powered 2024 Blazer.
Meanwhile, many automakers are moving in the opposite direction with pricing. Tesla has been slashing prices all year, pressuring others to follow.
Ford just introduced a new incentive on the F-150 Lightning (with up to $15,00 in savings) after sales disappointed in the third quarter.
Hyundai slashed EV lease prices recently on the IONIQ 5 and IONIQ 6, offering some of the cheapest rates since launching. The move came after Tesla introduced its own lease price cuts last week.
GM has struggled to ramp production of its Ultium-based models like the Blazer EV. The automaker revealed this week that it will push back Silverado EV and GMC Sierra EV production at its Orion assembly plant in Michigan. The automaker says the move is “to better manage capital investment while aligning with evolving EV demand.”
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