GM stunned the vehicle world when it revealed that the mid-engine 2020 Chevrolet Corvette Stingray would begin under $60,000. Real to its word, Chevy just recently released full pricing details on the C8 Corvette, revealing a beginning cost of $59,995 consisting of location charge. That makes the mid-engine Corvette a big bargain, however according to our intel, that brag-worthy base cost won’t last long.
A well-placed source exposed to MotorTrend that the sub-$60,000 base rate would last for the first model year. For 2021, you can anticipate seeing a price hike. Just how much of a hike? Back in 2013, the 2014 Chevrolet Corvette released with a beginning cost of $51,995– a number that was easy to swallow considering that it represented a jump of just $1,400 from the outbound C6. However a couple of months into the C7 Corvette’s inaugural year, Chevy raised the base cost to $53,993, citing higher-than-expected demand. By the 2015 model year, the C7’s starting cost had risen to $55,995, a full $4,000 more than its original MSRP. Of course, it would’ve been hard to find a C7 for price tag at launch anyway, but that’s another story (the one you can wager will duplicate with the C8).
We don’t understand precisely how much the base rate will increase on the 2021 Chevrolet Corvette Stingray, but the strategy to raise it does not surprise us. Practically everybody in the industry hypothesized that the C8 would be substantially more expensive than the C7. Not just did GM redesign the car from the ground up with a new mid-engine layout, it had to invest in all-new tooling for its Bowling Green plant. Selling more Silverados and Equinox wasn’t going to cover that cost alone. By announcing a base cost that was lower than anticipated, Chevy got everyone’s attention and managed to produce more hype around a car that was currently amongst the most hyped in history. Plus, diehard Corvette fans might grumble about the transfer to mid-engine and absence of a manual transmission. However, they can’t complain excessively about a rate distinction of simply $3,000 in between base C8 and C7. By introducing with a lower starting price, Chevy alleviates repeat Corvette buyers into the C8’s inevitably higher cost range with less danger of sticker label shock.
But even if the cost does go up next year, we still have high hopes that the C8 Corvette will be a cars deal. It simply won’t be a sub-$60,000 one for long.