It will no longer be affordable below $60,000
We knew that the C8 Corvette would not be a sub-$60,000 vehicle for long. The mid-engine sports car was launched at $5 less than the benchmark price with destination charges. Most buyers chose a base-model 1LT without an option. It was still a proud point for the automaker, but that will change soon. It will be very soon.
According to the Corvette Action Center website, a $1,000 price hike will be implemented on March 1. Motor1.com confirmed this report with a Chevroletspokesperson. He told us:
The MSRP for the 2021 Chevrolet Corvette Stingray coupe or convertible will rise by $1,000 starting March 1. The price hike on the 2021 Corvette Stingray will not affect customers who have received event code 1100 or more by March 2. We adjust prices on all of our products frequently and are confident that the Corvette will continue to be a winning formula for performance and reachability.
Although $1,000 is a small leap, it officially takes the mid-engine machine past the $60,000 barrier. It was just marketing talk, and this was supported by 2020 statistics for the C8. Although 1LT coupes made up 15.9% of 2020 Corvette sales this does not mean that they were cheaper than $60,000 and had no other options. The vast majority of buyers went straight to the top-tier 3LT model with an MSRP above $70,000.
Chevrolet stated that the Corvette’s price would not rise for 2021 in June 2020. However, this was before COVID-19 was fully understood. Only half of the cars that were produced in the Bowling Green factory’s first year of production ended up being sold. The Corvette has been plagued by numerous production shutdowns since 2021. It’s not clear when things will get back to normal. Another scheduled factory shut down will take place from March 1 to March 1. Just in time for the price rise.