There are plenty of reasons for C8 Corvette buyers to be frustrated with General Motors. While not entirely the fault of the automaker, the mid-engined sports car has faced quite a few challenges during its short time on the market. Just yesterday we reported on yet another production delay caused by a supplier issue, marking another disappointing moment in the C8’s run. As it turns out however, this isn’t the only bad news we have to pass onto the Corvette faithful this week. A new report from Corvette Action Center states that General Motors is about to crank the price up on the 2021 C8 Corvette starting next week.
When the C8 Corvette made its debut in July of 2019, a lot of hype surrounded the car’s sub-$60,000 MSRP. Well folks, this is no longer that something that General Motors will be able to tout starting next week. According to the report, GM has made the decision to increase the price of a 2021 C8 Corvette by $1,000 across all trim levels. This means the $59,995 base price will now sit at $60,995. Considering how much trouble GM has had getting these cars to customers, the timing of this decision seems a little odd.
That said, Corvette Action Center suggests that there might be a reason for this choice. According to the publication’s sources, GM is desperate to try up C8 Corvette production numbers by any means necessary. The report suggests that GM is limiting production of other platforms in order to save shared parts, such as semiconductors, for the sports car. This sort of move could ultimately hurt GM’s profitability, and this could perhaps be the reason for the price increase. That said, this isn’t the first we’ve heard of GM wanting to up the price of the Corvette. In fact, those rumors started almost as soon as the car debuted. Whether or not this time is different is still up in the air.
For those of you who already have an order placed for a 2021 C8 Corvette, don’t panic yet. All orders submitted to GM’s Order Workbench system that carry a status code of 1100 or higher are locked in at the price you agreed to. For the folks whose dealers have not yet placed their orders however, you could get hit with this potential Corvette price hike. Either way, we’ll have to wait for a statement from GM to learn what is actually happening here. Be sure to check back to MC&T for updates as next week approaches.