Last Updated on
The 2020 C8 Corvette is one of the most desirable convenience sportscars in the industry. The eight-generation mid-engine platform has raised the demand for the vehicle among potential buyers. The first models of this sports car arrived at the National Corvette Museum in Bowling Green, Kentucky, and the museum even posted a video of the trims in the first week of this month. After that, models got shipped to various dealerships in the US and Canada.
Both owners and dealers are taking advantage of the rising demand by posting multiple listings on eBay, Facebook Marketplace, and craigslist. Internet flood posts carry higher prices than in the market, but vehicle admirers are not surprised because there is a huge demand. One such post enlisted the 3LT C8 trim along with Z51 package, quality wing spoiler, five trident-spoke wheels, and Magnetic Selective Ride Control at an MSRP of $119,900 on eBay. However, it has many extra features, the original vehicle price if $88,220.
Another listing had a similar difference in price. It enlisted the 2LT Z51 Performance Package trim with Select Magnetic Ride Control, GT2 bucket seats, and other features at a Buy it Now price of $125,000. Meanwhile, the sticker price of this car is $81,290. Unfortunately, this is not the only bad news in the market. Recently General Motors (GM) released an announcement that the production of the C8 Corvette has stopped due to the rising coronavirus pandemic.
Additionally, there is no news regarding resuming the production by the manufacturer because it is in the hands of the CDC. Therefore, buyers are getting impatient. They are willing to buy these cars at the “Buy it Now” price instead of the sticker price. Potential owners should note that this is not the first time that the cost of the 2020 C8 Corvette has risen in the market.
In November 2019, an eBay listing priced a 1LT trim at $110,000. The listing also showcased a build slot and not a manufacturer built shot. The seller stated his intentions for making a profit with the vehicle in the post. User estate-sales-deals enlisted this, and the seller has received 100 percent positive feedback and seems to be completely legitimate. Also, the sticker price of this vehicle is $68,000, with the extras mentioned by the seller.
Besides this, there were many other discrepancies in this post. Primarily, it stated that it was the first wave of early release. However, at the time, dealers already knew about the delay in production due to the UAW strike. The post also stated that the sports car generated 650 hp, which is way higher than the 558 hp mentioned under the 2020 Motor Trend dyno test.
In a November post, GM questioned consumers’ first thoughts on the high price it enlisted in the post. It’s interesting to see what people are willing to do to get their Corvette, especially with the production suspension. We are also eagerly awaiting the response of next year’s models. Stay tuned for more updates from GM, C8, and other models.