General Motors to Raise the Price on the 2021 Corvette by $1,000 Starting Monday

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General Motors to Raise the Price on the 2021 Corvette by $1,000 Starting Monday

Photo Credit: Chevrolet.com


I wouldn’t say that a price increase was unexpected, but the optics aren’t the greatest at this point in time as the assembly plant is continuing to face hurdles to produce the 2021 Corvette.

According to the Corvette Action Center, General Motors will be raising the prices across the board by $1,000 on the 2021 Corvette starting on Monday, March 1st.

We reached out to several sources who have unofficially confirmed that the price increase will be happening. We have also reached out to several members of the Chevrolet PR team for comment. This is the statement that was received this afternoon:

The MSRP of the 2021 Chevrolet Corvette Stingray coupe and convertible at all trim levels will increase by $1,000 beginning March 1. Customers who have event code 1100 sold orders and beyond by March 2 will not be impacted by the price increase on the 2021 Corvette Stingray. We monitor and adjust pricing on all our products regularly, and we’re confident the Corvette remains a winning formula of performance and attainability.

The pricing increase will be added to the starting MSRP for each trim group. The new prices will be:

2021 Corvette Coupe MSRP
Previous MSRP shown in parentheses

  • 1LT – $60,995 ($59,995)
  • 2LT – $68,295 ($67,295)
  • 3LT – $72,945 ($71,945)

2021 Corvette Convertible MSRP

  • 1LT – $68,495 ($67,495)
  • 2LT – $75,295 ($74,295)
  • 3LT – $79,945 ($78,845)

There has also been discussion that customers with a submitted dealer order will be price protected, and the statement shows that everyone with a sold order at 1100 or higher by March 2nd will not see their prices raised. That is great news for those that have been waiting patiently for the number to be called.

Earlier this month we had heard that GM would be making an announcement regarding the Corvette and that the “Concierge Teams had been prepped”. We are now in the camp that believes this memo to dealers was most likely in regards to a price increase.

As General Motors has prioritized the 2021 Corvette for production including the availability of semiconductor chips, while at the same time losing approximately 18 days of production in recent weeks to other parts shortages and weather delays, the price increase could be an attempt to recoup some of those loses resulting from the extended downtime.

The Corvette Assembly Plant has been running at near full strength this week and so far 5,706 Corvettes for the 2021 model year have been produced. The plant will be closed March 1-5th due to supply issues relating to transmissions.

Update
We added the previous starting MSRP prices and the statement from Chevrolet.


Source:
Corvette Action Center

Related:
C8 Corvette Prices Remain High One Year After Launch
2021 Corvette Pricing Released with Z51 and the E60 Front Lift Seeing Increases
Buying a 2020 Corvette as an Investment? Sell It Now for the Best Return!

 



15 COMMENTS

  1. Glad to have my 2020 C8 Corvette at the old window sticker price. Many people are paying
    tens of thousands over window sticker for used and new C8’s. I could make a lot of money if
    I sold my C8 but you only go around one time on this planet and I am going to enjoy
    my Corvette

  2. Price increase? No big deal, the dealer will just subtract it from their $15,000 mark up. ;^)

  3. With so many C8 owners adding PPF, Ceramic coating(car & rims), new Wheels, new Exhaust, engine covers, changing the Steer wheel, new front and rear spoilers, ground effects, the extra 1k should be a problem.

  4. More than 1 year ago I put $5,000.00 down at my local dealer and was told to expect my car in August 2020. Then GM pulled back half of my dealer’s allocation and only gave them half of what they were supposed to get. Since then they raised the price on the Z51 package and on the front lift. Now they increase the car by another $1,000.00. That’s the THIRD price increase i’ve had to endure and absorb through no fault of mine! I would NEVER pull that crap on any customer of mine! NOT HAPPY. Very poor way to treat a customer. I’ve owned GM cars and trucks for over 40 years. This is very likely the last one for me…. anything but Mary B’s electric powered crap.

  5. I assume GM has given all 2020 holdover purchasers their cars. I’m surprised that GM held off this long with minimal cost increases, given the popularity of the C8. A one thousand dollar increase is not that huge.

  6. GM never fails to disappoint! Once again screwing over the consumer with endless delays now a price increase as well!

  7. Car is still the best performance bargain on the planet hands down. The problem is not the price, it is getting one!

  8. I am not blaming GM for the price increase; I am blaming all those with too much money. GM is just doing what any business would do when they have a product that is in high demand: “charge what the traffic will bare”. Love to have a C8. Never have paid sticker for a car, and never will. I will keep my C7 Grand Sport until I can get the next version below sticker. If it never happens, then I will never buy another Corvette.

  9. i have had a corvette starting since 1962 a 1957 was first one i have had every generation of vettes 18 total some new others with a couple miles had the 67 427 L-88 bought used low miles still around in my home town in windber pa flipped 11 12 13 when gm was giving 3000 rebate kept cars for about 10 months 8 kmiles sold to Lexus dealer walked down the street with plate and left with a new vette sold my 2018 GS LT-2and after my 2021 was built i sold my 2018 from when i built my car a waited 2 months recieved del. on feb.8 my 2021 LT 2 Z51 wheels lift engine pkg and cover rockers and wheel covers red brake cal.great great so was the other vettes wait them out do not pay over keep your 17 18 .

  10. If $1,000.00 is a problem for a Corvette buyer, then perhaps he or she should get a much cheaper car. GM is rumored to be losing money on Corvettes now. True or not, the new car got some upgrades and changes. It was underpriced upon release in 2020. If you do not have the income and patience for a new Corvette, Ford would like your money. People at GM and especially Corvette are good people doing a great job. The snags in production are being worked out. Some people need to upgrade their attitudes.

  11. My C8 was a bargain at window sticker. If it was 1K more it was still a bargainn You have to drive this car to see what it is really worth. I have owned many Corvettes and even a
    Dodge Viper. My C8 is quicker, more comfortable, and more eye catching than any vehicle
    I have ever owned or have seen on today’s street. Five stars to GM.

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