The 2020 Chevrolet Corvette Is COSTING GM $$$ — Will Prices SPIKE For 2021?

If it's too good to be true, it probably is.

That's an adage that shouldn't be forgotten, Spies. That's because it is all too true. Especially when the auto industry is involved.

According to the latest reports, the C8 Chevrolet Corvette is going to be costing General Motors some serious bucks for every unit sold for less than $80,000. This explains why its price rises quite a bit via its nice menu of options and parts to choose from.

The folks at MotorTrend go into greater detail but basically it can be summarized as such: The budget for the C8 project assumed the vehicle would start at $80,000 and not sub $60,000.

Knowing this, should we all get ready for GM to jack up the prices of Corvettes for the 2021, 2022, etc. model years?

According to our source, the original budget for the C8 project assumed a starting price of $79,995. This is certainly reasonable considering the enormous amount of work needed to redesign the car into a mid-engine configuration, but it's a huge jump from the C7. In order to keep customers from revolting, Chevy is taking it on the chin and willingly losing money on every C8 it sells for less than $80,000. No doubt a factor in the C8's laundry list of options and dress-up parts is the hope buyers will load up their cars with extras and turn their $60,000 Stingrays into $80,000-plus Stingrays. The C8 Stingray Z71 3LT we tested rang up at $88,305.

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MDarringer - 12/4/2019 8:30:56 AM

0 Boost

Not only will prices spike, but traditional Corvette buyers will find the car overpriced and not buy. This could very well be a massive stumble for GM.

runninglogan1 - 12/4/2019 8:45:45 AM

+3 Boost

Nah

Vette71 - 12/4/2019 9:06:51 AM

-1 Boost

Look for the reintroduction of the C7 as the "Corvette Classic" at a lower price point.

HoustonMidtown - 12/4/2019 2:06:54 PM

0 Boost

Check back in a year to see how wrong you are (again)....

jtz7 - 12/4/2019 6:10:12 PM

0 Boost

Not if they turn it into a CUV like the Mustang.

mre30 - 12/4/2019 9:22:51 AM

+2 Boost

Hmmm, kind of a mess if you ask me - I wondered how Chevy could price it like that.

There is only so much that people will pay for a Corvette IMO

CANADIANCOMMENTS - 12/4/2019 11:53:19 AM

+2 Boost

This Zora model should have been at the top of the lineup. The C7 should still be around. More models, more price points, more margin, more sales. How many 911 variants are there? How broad is the price range from a base 911 to a GT2? GM needs to think differently.

Truthy - 12/4/2019 2:03:00 PM

0 Boost

With the C8 on sale only the low priced C7 would find any volume with the few remaining men with rupees and white shoes.
The C8 should have been a Cadillac. Keep the C7 a Chevy and introduce a twin turbo V6 for a lower price lighter model to broaden the range toward more Chevy prices.

MDarringer - 12/4/2019 7:25:34 PM

0 Boost

Racist: "...men with rupees and white shoes..."

skytop - 12/4/2019 2:15:06 PM

0 Boost

GM can afford the loss to satisfy the Vette enthusiasts.

ricks0me - 12/4/2019 5:00:08 PM

+1 Boost

GM is following the Tesla business model …. nothing to see here but red ink …. next item please

jtz7 - 12/4/2019 6:09:11 PM

0 Boost

You damn right. You read my mind after I already posted.

jtz7 - 12/4/2019 6:08:12 PM

0 Boost

Why not just do like Ford and turn and make it an SUV so it will sell?

cidflekken - 12/5/2019 5:37:32 PM

+1 Boost

But the assumed starting price means a profit. Starting at $60k might mean break-even versus necessarily a loss.

MrEE - 12/9/2019 8:17:21 AM

+1 Boost

Camero can fill the $60k and below price point.

Corvette can be more exclusive and in a few years the resale market will serve the lower price points.

MDarringer - 12/9/2019 8:40:54 AM

+1 Boost

Except that in the market, that has not happened with buyers. When the Camaro's price rises, buyers stay away. Dumping the C7 was hellishly stupid.