It’s always good news when we hear that consumers in new markets will be able to buy the Chevrolet Corvette direct from the manufacturer.
Last week The Covenant Car Company, exclusive distributors of Chevrolets in the Philippines, announced that the C7 Stingray will be officially offered for sale in the country for the first time in Corvette’s 65-year history. The 2019 Corvette Stingrays will go on sale in the country in early 2019.
The C7 Corvette Stingray will be offered with the 455-hp LT1 V8 coupled to an eight-speed automatic transmission. The Corvette will only be offered exclusively in the 3LT trim package and it includes Magnetic Ride Control, Competition Sport Seats, and the Performance Data Recorder.
“Bringing such an iconic American supercar in the Philippines is a testament of General Motors’ commitment in the country and the rest of the region. Throughout its history, the Corvette has proven the position of Chevrolet as a leader in producing vehicles with spirited performance and high-quality design,” Ian Nicholls, President of General Motors Southeast Asia, said in a statement.
The announcement came during The Covenant Car Company’s Chevrolet Motorama 2018 event which features the full line-up of Chevrolet’s offered for sale in the Philippines. The Torch Red Corvette Stingray is on display through November 28th at the SM Megamall Fashion Hall in Manila.
“We are extremely proud that the Corvette’s first launch in Southeast Asia is happening in the Philippines,” said Atty. Alberto B. Arcilla, President and Managing Director, TCCCI. “As we preview the legendary sports car in the country – on its 65th year anniversary no less – we are happy to provide the market with a driving experience like no other.”
The Corvette Stingray is priced at 8,546,888 Philippine Pesos which is $163K in US Dollars. The Philippines places heavy taxes on vehicle imports and the additional markups come from the country’s 40% custom’s import duty, a 10-12% VAT and a 100% tax for engines with a displacement greater than 2.7 liters.
Those high taxes have created a black market for performance cars in the country. Unfortunately, the government likes to send a message to auto smugglers by crushing those cars with a bulldozer as it did recently with a 1969 Corvette Stingray and other high-end vehicles.
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