The mid-engine Corvette is undoubtedly one of the most hyped cars of all time. A project that was nearly 50 years in the making, the C8 Corvette revolutionizes the American sports car in a way that has been unrivaled in its history. Better yet, Chevrolet was able to release the car with a sub-$60k price tag, cementing its place as a true value proposition. According to a report by MotorTrend, this budget base price won’t be sticking around for long, and the 2021 Corvette Stingray could see a bit of a price hike.
While this information cannot be confirmed at this time, MotorTrend does say that their source is well placed. While it may seem odd to schedule a price increase for the cars second model year before any have hit showroom floors, there are a number of reasons Chevrolet might be doing this.
In the months leading up to the mid-engine Corvette reveal, fans and critics alike speculated that it would carry a heavy premium over the seventh generation car that it replaces. The sheer cost involved in creating a mid-engine platform from scratch, as well as retooling the Bowling Green factory suggested this would be the case. Chevrolet was also aware that changing the recipe of a deeply loved classic could alienate the people who buy these cars. It is possible that Chevrolet wanted to assuage the Corvette old guard by keeping the base price of the C8 close to that of the outgoing C7 despite the dramatic transformation.
This reported 2021 Corvette price bump isn’t a first for the nameplate either, as the C7 had a similar price hike a few times early in its run. When the C7 Corvette Stingray was released in 2014 it carried a sticker price of $51,995, which was an inconsequential $1,400 more than the outgoing C6 generation. Chevy raised the base price of the Stingray to $53,993 mere months into the car’s first year, citing the sheer demand for the sports car. One year later for the 2015 model year the Corvette’s cost ballooned by $4,000 more, up to $55,995.
Indeed, the 2021Corvette C8 Stingray may have a price bump compared to the inaugural 2020 model, but looking at the past suggests that it won’t be ridiculous. Chevy knows that the real money will come later with the high performance versions of the Corvette, and that it is best not to alienate your buyers. At the same time, the C8 remains a relative bargain.
No dealership is going to sell a 2020 Corvette at MSRP anyway, so the price hike may be null compared to the car’s real market value.