Originally Posted by Yonkers
I think both of you are wrong. It IS illegal to price gouge on ESSENTIALS during times of crisis. Like gas, water, milk, bread, etc.
That said, a BMW is a luxury item and not an essential item so it is not considered price gouging.
Not to belabor the point, but I hate being told I'm wrong when I'm not.
You're absolutely right that many states have laws to restrict price hikes when an emergency or disaster is declared. Only about half the states do, though, and there's no federal law directly addressing it. When I said it was "generally not illegal," I meant that in general, you can raise the price on something, even essentials, to match the market rate. How much you can raise it will vary from state to state.
In any case, it's a horrible analogy and I agree that BMWs are another case entirely. While I'm sure dealers have some pricing restrictions in their franchise agreements, obviously BMW dealers are not restricted from adding "market adjustments" to the price.