Two weeks ago, General Motors announced a price increase for 2021 Corvettes that would go into effect on March 1st. The increase was $1,000 across the board on the 2021’s Coupe and Convertible models. Later that day, a GM spokesperson told us that current SOLD orders at Event Status 1100 or higher as of March 2nd would have price protection. However, there does seem to be some confusion on how the price protection is handled.
Earlier this week, I received an email from a 2021 Corvette buyer named “TJ” asking how the price protection process works as his dealer didn’t seem to know, nor did anyone in Detroit that they called. He later sent me the details of how it was worked out:
“I got it. I just went and signed the papers on my C8 and the dealer is aware of the price protection on units in 1100 status prior to March 3rd. The invoice will reflect the new price, and the dealer then gives the customer the protected price. GM will then reimburse the dealer.”
That sounds pretty straightforward as long as your dealer knows THAT YOU KNOW all about the price protection. TJ was thinking the same thing as he tells us why he thinks it was so hard to find how the price protection would save him from the price increase:
“The reason no one will tell you anything is some dealers will not give the money to the customer.”
And that’s why the bad ones are called “stealerships!”
We’re sure that most dealers who specialize in Corvettes are familiar with this process and will honor the price protection without having to make you jump through any hoops. Just make sure so there are no surprises at signing.
Here was the official statement from Chevrolet regarding the 2021 price increase:
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.
Congratulations TJ on your new 2021 Corvette and may it give you years of enjoyment!
Related:
General Motors to Raise the Price on the 2021 Corvette by $1,000 Starting Monday
C8 Corvette Prices Remain High One Year After Launch
2021 Corvette Pricing Released with Z51 and the E60 Front Lift Seeing Increases
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Confusion with the C8? How can that be??
Let’s be a bit more clear, there is confusion by dealerships, even those that sell many because the price protection is for vehicles at 1100 status which is not normal. Typically it would already be at 2000 to be price protected. This is new to big dealers as well.
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