The Average Transaction Price for the C8 Corvette Was $82,489 in Q2 2021

Don’t let that low base price of $60,995 for a 2021 Corvette Stingray Coupe fool you.

Most buyers can’t seem to resist adding lots of options to their new mid-engine sports car, based on recent data from Cox Automotive.

They’re reporting the average transaction price (ATP) of a new Corvette in the second quarter was more than $20,000 higher than that starting point. In fact, it was a whopping $82,489 – the highest figure ever recorded for the Corvette.

Of course, multiple factors are at play here – not the least of which is that the Stingray has proven to be a gamble that’s paying big dividends for Chevrolet. Sales rose 224 percent to 7,971 units in the second quarter, the highest such figure since 2016.

Such popularity has meant that it’s virtually impossible to get any kind of discount off the MSRP, with some dealers even charging thousands of dollars over the list price.

That demand seems unlikely to be satisfied in the coming year, based on GM Authority’s interview with Tony Johnson, director of car and crossover marketing for Chevy.

“We have more orders than we can handle,” Johnson said. “I can’t give you a number (on how many orders we’ve received), but I can tell you it’s significant.”

Johnson says Chevy is working to meet that demand, adding, “We know there’s a lot of customers who really, really are excited to get their hands on a Corvette.”

Besides the immense popularity of the new car, the Bowling Green factory has also faced many production challenges over the past two years, starting with a UAW strike in late 2019, then continuing with parts shortages during the pandemic that have forced multiple closures of the assembly line.

Overall, Cox Automotive reports that Chevrolet’s ATP reached a record high for a second quarter, climbing 11 percent to $45,083. The Tahoe was up 15 percent to a record $64,663, while the Suburban gained 9 percent to $69,270.

Besides the Corvette’s big sales increase, the Bolt EV climbed 335 percent to its highest volume ever for a second quarter at 10,857 units, albeit with heavy incentives.

Source:
Cox Automotive via gmauthority.com

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