The month-long car buying binge triggered by the federal Cash for Clunkers trade-in program has led to a shortage of some fuel-efficient cars. Now, the shortage is having an ugly consequence.
Daily Tech reports, "Rogue Toyota dealers" have begun "price gouging on [the] scarce 2010 Toyota Prius." Daily Tech reports, "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."
Autoblog adds, "It wasn't all Toyota dealers that took to making dough while the sun shone, of course." Since the practice wasn't spread throughout all Toyota dealerships, Autoblog notes, "the gist of the story appears to be that if you really want a Prius, shop around for MSRP and you'll probably find it."
This isn't the first time we've seen asking prices for the green icon go up. Last summer, with gas prices peaking at more than $4 per gallon, the prices of even some used Prius sedans jumped over what Toyota advises dealers to charge for a new model.
If you're in the market for a new car, check out the U.S. News rankings of this year's best cars as well as this month's best car deals.
