C8 Corvette losing a Major Amount on Every Unit Sold

Every Corvette sold is a lose lose for Chevy. As of now there is no official update regarding the hike in price of Corvette but…….

C8 Corvette

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We have just begun to scratch the surface and the C8 Corvette has already impressed us with its ordeal. The new generation kicked off earlier this year with the entry-level Stingray going for pre-orders from Chevrolet’s official website. The specs of the car are more than enough to impress any petrolhead. Moreover, getting the performance of a McLaren or Porsche in a $60,000 package makes this the steal of this decade. While the car is not about to hit the showrooms until February of 2020, it has peaked over 60% off pre-order allocations from Chevrolet before Christmas. However, those getting late in the game may expect a price hike of over $20,000.

This may seem like a win-win situation for one of the most renowned manufacturers in the US. However, Chevrolet admits that it may not have been such a smart move, after all. It was almost too good to be true that such a high-performance car would cost so low since redesigning sports cars of such capabilities requires a lot of funds to retain profitability. A GM source recently confirmed to Motortrend that Chevrolet was initially not planning to sell the Stingray for less than $80,000. The decision was taken to keep the sales of the Corvette from dwindling down.

2020 C8 Corvette Coming
2020 C8 Corvette

Not the first rodeo with the ‘Vette price tag

It is not the first time that prices of a Chevrolet Corvette are to rise significantly. The C7 Corvette Z06 and ZR1 had a similar price hike, about $2,000, the year after they both first hit the showrooms. Still, the Z06 was a 650-hp supercar killer that started out at $83,300. The ZR1 had the most powerful engine ever seen on a Corvette. A supercharged 6.2L V8 packed in 755 horsepower and 715 lb-ft of torque. The starting price was $120,900 for a 2018 variant, which rose to $123,200 by mid-2019.

How much does C8 Corvette mean for Chevrolet?

Lately, many of the leading manufacturers under GM’s wing, including Chevrolet, have hit hard times. Sales of almost all trims have seen a decline, and sports cars are no exception. For 2020, Chevrolet upped its game with the introduction of the new generation of Corvettes. The Stingray is just the first in a lineup that may feature the most powerful sports cars ever to roll out of an American assembly line.

Chevrolet chose a mid-engine design for the C8 Corvettes. The Stingray packs a 6.2L LT2 V8 under the hood. Official data reports 495 hp and 470 lb-ft of torque. Though recent dyno tests suggested that the output may climb to well over 550 horsepower. The C8 Stingray has exceptional handling capabilities, able to take on the Porsche 911 and Nissan GT-R at their home turf. All things considered, Chevrolet is sure to push hard for customers to get their hands on one of these machines. Maybe they went a bit overboard with the effort.

GM loosing money on Corvette
Will the price go up?

A bit off more than what Chevy can chew?

Such a great performance car at such a reasonable price? No wonder most people would jump on to go for the Corvette rather than a Ferrari or McLaren. Nevertheless, that is just the starting MSRP. A few options and performance packages would make the car go over 83 grand, thus breaking even with the projected manufacturing cost. Yet, the discounted prices have worked too well for Chevrolet and you can expect drastic measures to be taken by 2021. The price would not only be increased for the base Corvette but would affect the other trim levels as well.

Chevrolet has not yet confirmed just how much more expensive the Stingray will be by 2021, but that it will also include the Z06 that is yet to be unveiled. The ZR1 will most likely be a limited production run. Both the Z06 and ZR1 C8 Corvettes would get a new LT2 twin-turbo drivetrain. Another trim is rumored to be in the works, though we will need to wait till the first C8 Stingray hits the showroom to get the complete picture.

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