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.
We added the previous starting MSRP prices and the statement from Chevrolet.
Corvette Action Center
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!