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We have several dealerships running GVLAs, and we've been pretty pleased with what we've seen from them so far. In general:

• Low cost per click
  • [USER=13373]@NickA[/USER] the first month was usually in the $1 - $1.50 range, but after that initial month each campaign's CPC dropped into the ~$0.50-$0.60 range, so hopefully yours will or has already gone down significantly as well
• Higher lead submission rate than some standard paid search campaigns
• Low bounce rates, high time on site

Here is a quick performance metric breakdown from 3 of our dealerships running GVLAs with similar ad spend (goal completions & conversion rates courtesy of DI Goals):

[ATTACH=full]7530[/ATTACH]

As far as launching these things... It is not as simple as a flip of a campaign switch and can be wildly labor-intensive if you don't know what you're doing (speaking from *inexperience*). Launching GVAs can take anywhere from 2 weeks to a month and a half, regardless of whether you already have a Google Ads account up and running. 

The "recommended" daily budget from Google and certified partners for the GVLA program is $100/day. However, the minimum recommended spend is $50/day, which has been sufficient for most of our dealerships. 

If you have any questions about launching Vehicle Listing Ads for your dealership in the US, hit me up!