As if C8 Corvette supply and demand wasn’t already playing a huge factor in the elevated prices for the privilege of owning one, production bottlenecks seem to be exacerbating the issue. The C8 Corvette is no exception as it consistently sells at about 2 percent above MSRP, according to AutoTrader, which places it within the top 20 cars with a price higher than what’s on the sticker. These are known as the “Toughest 20.”
Supply and demand are in constant motion with the C8 Corvette Stingray, as the heightened prices hasn’t hurt sales, and orders for the 2021 Corvette had to be suspended so that GM can make the attempt to catch up. In fact, Corvette chief engineer Tadge Juechter once told MC&T that the company could sell “triple the amount” of C8 Stingrays compared to what it can build.
Corvette Isn’t The Only Vehicle With A High Price
The C8 is far from the only vehicle seeing price markups. Leading the charge is the Mercedes-Benz G-Class, selling at 18 percent over MSRP. The 2021 Cadillac Escalade is ranked at number 8, selling for at four percent over MSRP. That’s actually ahead of the Chevrolet Corvette, which is ranked number 15. The Jeep Wrangler is two behind at 18 on the list with an average transaction price tracking at one percent above MSRP, with the GMC Yukon XL at number 19 at the same percentage. The Ford Bronco is on the list, too, at number 14, selling at two percent over sticker on average. Rounding out the list is the Chevrolet Bolt EUV is number 20 at 0.5 percent over suggested retail price.
Comparatively speaking, there are more GM products selling above the total retail price than any other automaker in America, according to AutoTrader data.
Second-Hand C8 Corvette Purchases Aren’t Cheap Either
Even if you wish to search for a vehicle and buy it second-hand, you’re likely to come across higher than average prices as people take advantage of the high demand, and lack of supply. But the Corvette is just a small story in a greater picture of a total and utter bottlenecking of automobile production happening around the world, due to the global microchip semiconductor shortage. This, in turn, has forced automakers into a holding pattern for necessary chips required to build vehicles. There doesn’t seem to be an immediate end in sight.