What does "Gringo Price" mean in the following context?
"A lot of places will “Gringo Price” you. Remember those scammy repair places in the US? They exist in Portugal too."
Source: How to Buy a Car in Portugal
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The definition of "gringo" according to Merriam-Webster Dictionary:
a foreigner in Spain or Latin America especially when of English or American origin
Here is the definition from Oxford dictionary:
(in Spanish-speaking countries and contexts, chiefly in the Americas) a person, especially an American, who is not Hispanic or Latino.
So if you are visiting these countries (Latin America, Spain, ...) you may face "gringo pricing" which is the overcharged price that foreigners may be presented with when shopping for something in these countries.
This may happen because people in these countries may think that since you are an American or you come from Europe, Canada, Japan or ... you are very wealthy (or you are not aware of the exact price), so they may have a special price for you.
According to the Cambridge Dictionary
used in Latin American countries to refer to people from the US or other English-speaking countries
Notice that the word gringo is not commonly used in Spain nor Portugal as you can verify in the entry of the Wikipedia linked in another answer. Nowadays we know the word because it appears in Western movies.
The author of the article is not talking about a general trait of a whole country, he's talking about "those scammy repair places". Those places exists in all countries that got cars. They do not sell cars, they repair them, and they are going to charge you whatever they want. And they may charge you even more if you don't know the native language, the "Gringo Price".
Have you seen U Turn, a film directed by Oliver Stone? That's the place and that's the attitude. And all the film occurs in an U.S town.
That's the whole point and it got nothing to do with you being from a richer country. It's NOT about you being from the U.S.A. It's about you being foreigner, ignorant about mechanics and unable to discuss the price.
You owe me money, gringo! And this car aint goin' no place 'till I get it!
In Spanish and Portuguese, gringo is a term used for foreigners, specifically, English-speaking foreigners. The specific meaning varies, but Wikipedia says this about the Portuguese usage:
In Portugal the word gringo is not commonly used. Also, there is the word "Ianque" (Portuguese spelling of Yankee). It is never used in a formal context. It specifically describes someone from the United States (as does "Americano"), and is not related to any particular physical or racial features. The most common slang terms used throughout the country are "Camone" (from the English "come on") and "Bife" (pronounced like "beef", but equivalent to "steak" in English) for English born. The most used and correct expressions are "estrangeiro" ("foreigner" in English).
So, in this context, "Gringo Price" is the price for American foreigners. The article goes on to suggest that the price is higher:
Remember those scammy repair places in the US? They exist in Portugal too. The only difference is they rob you extra because you are a foreigner and people assume you are rich.
In informal contexts verbs can be coined on an ad hoc basis from a noun phrase
(optional modifier) + noun; the reference is to a commonly occurring scenario.
Be wary when shopping for a new car. The salesman may try to factory undercoat you.
That is, may try to charge you for a service which is widely understood to be of no value.
The constructions are not only novel but elliptical. You are not being factory undercoated yourself, but are being charged for the cost of factory undercoating the car.
The counter workers in that coffee shop have been trained to upsell customers. They always try to chocolate cupcake you.
The writer of the cited article is a Spanish speaker. It says so on his profile. Also, there was no reason for him to capitalize the expression.
The expression preço de gringo [gringo price] is very Brazilian sounding. The writer probably heard it in a Brazilian (Portuguese) context.
In the Aurelio dictionary,it says a designation for foreigners, especially North Americans. [by which they mean Americans]. The same definition is in the Iberian Portuguese dictionary, Priberam.
Here is the usage chart for the word in Spanish, from the Real Academia Espanola:
adj. coloq. Extranjero, especialmente de habla inglesa, y en general hablante de una lengua que no sea la española. [translation: coloquial, foreigner, especially English speaking, and in general a speaker of a language that is not Spanish]
adj. coloq. Dicho de una lengua: extranjera.[said of a foreign language]
adj. Bol., Chile, Col., Cuba, Ec., El Salv., Hond., Nic., Par., Perú, Ur. y Ven. [in those countries, the word means: an American, or U.S. citizen] estadounidense. U. t. c. s.
adj. Ur. inglés (‖ natural de Inglaterra). in Uruguay, an English person [from England]
adj. Ur. ruso (‖ natural de Rusia). Also, a Russian
m. y f. Bol., Hond., Nic. y Perú. [in those countries, a blond person with a white face] Persona rubia y de tez blanca.
m. coloq. Lenguaje ininteligible. [colloquially, an unintelligible language]
A gringo price is a price charged to rich foreigners or to "Americans" insofar as Americans are identified with money. Gringo on its own is either an American or a rich foreigner.
Finally,gringo often has a negative political connotation. As can be seen here as used by Arturo Pérez-Riverte:
He said: Tenemos que olvidarnos del hispanocentrismo y comprender que los españoles somos solo una parte de la lengua. El caudal vivo, el español de futuro, el que van a hablar en todo el mundo, y desde luego los cabrones de los gringos, es el español. Somos una patria sin fronteras ni ideologías. Somos 500 millones de compatriotas con una bandera legítima, el Quijote. Nuestra patria es la lengua española.
Translation: We need to forget Hispanocentrism and understand that we, Spaniards, are only part of the language. The living channel, the future Spanish, the one everyone is going to speak, and due to that, those gringo bastards [one possible translation of cabron], is Spanish. We are country without borders or ideologies. We are 500 million compatriots with a single legitimate flag, El Quijote [Don Quijote]. Our country is the Spanish language.
As other answers have stated, Gringo is not a term generally used in Europe. The expression is simply one that makes sense in one context (Non-locals being charged extra in Central/ South America), and is well known enough to make sense when being applied in a different context.