It hasn’t been an easy start for the 2020 Corvette Stingray. Several setbacks have slowed the launch of the most anticipated Corvette ever, and now GM has closed 2020 orders. Surprisingly, it isn’t all down to Coronavirus, and it’s something we actually saw coming.
Thankfully, Chevy says cutting orders comes from a positive issue. CorvetteForum leaked an apparent email from GM to dealerships saying the orders were canceled immediately, “due to an overwhelming response.” Now, Business Insider has confirmation from GM.
There’s also this whole Coronavirus thing, and workers no longer building them at the Bowling Green Assembly Plant. But that doesn’t sound as good of a reason.
“Due to an overwhelming demand for the 2020 Chevrolet Corvette Stingray, Chevrolet has decided to stop taking sold orders after March 18, 2020,” a GM spokesperson said. They also said orders for the 2021 model year will open early, in late May.
Since COVID-19 is going to affect C8 production for the foreseeable future, GM might as well skip a page, and look to next year.
Photo copyright MuscleCarsandTrucks.comSilver lining: some customers that ordered a 2020 Corvette won’t get their car anymore, but at least they can order a 2021 model sooner. For dealers, it’s not so pretty=. Not all dealers are able to sell the C8, as there is a multi-step process for dealers to sell and service the new Corvette. Earlier this week, we learned GM canceled the dealer training portion, held at Spring Mountain Motorsports Park.
During the difficult times caused by the COVID-19 pandemic, we expect car dealers to suffer. Selling a 2020 Corvette Stingray on order was a sure-fire way to get some money in the doors, but now that may not be possible. This hurts even more when some dealers spent the $5,000 for training to sell the car in the first place.
Then there’s last fall’s UAW strike. In November 2019, MC&T reported the 40-day UAW strike would push production of the 2020 Corvette Stingray back two months. Production was supposed to start in December, 2019. In January, we reported that GM would cut 20 percent of 2020 vehicle allocations. Aside from the strike, Chevy cancelled the exposed carbon-fiber aero pack due to supplier issues.
More unfortunate news came when production began. We learned that said production would only last seven months. In addition, GM said orders for 2020 cars would end in April. Coronavirus didn’t affect any of those events, but it is probably what has ended production a few weeks before it was supposed to in April. All of this led to GM’s decision to halt orders of 2020 Corvette Stingrays.
While it’s a disappointment to customers with canceled orders, you will have earlier access to 2021 orders in May. Furthermore, there won’t be as many people out buying Corvettes off dealer lots with the Coronavirus situation. For those with a canceled order, or just want a Corvette, 2020 models will be more rare, and could see higher value down the road.