The latest eighth-generation Chevrolet Corvette brings world-class performance without the supercar price tag. Nevertheless, the new 2021 Corvette still had a substantially greater average transaction price in February compared to the previous seventh-generation Corvette.
In an emailed statement to GM Authority, General Motors Car, Performance and Motorsports Communications Assistant Manager Trevor Thompkins confirmed that the average transaction price for the 2021 Corvette during the month of February, 2021 was $86,185. Critically, that’s a massive $26,000 increase over the previous-generation C7 Corvette.
As a reminder, pricing for the 2021 Corvette starts at $59,900 for 1LT Coupe models, and $67,400 for 2021 Corvette Stingray 1LT Convertible models. Note that those prices do not include the $1,095 Destination Freight Charge.
As GM Authority covered in February, Chevrolet attained record average transaction prices during the 2020 calendar year, with Chevrolet spokesperson Megan Soule confirming with GM Authority that Chevy’s average transaction prices in the U.S. reached $36,400. Not only is that a six-percent increase over the 2019 figure, but its also the highest average transaction price in brand’s 110-year history.
That said, General Motors sold just 21,626 units of the new C8 Corvette in 2020, making it a relatively low-selling vehicle in terms of volume (Chevy sold more than 1.7 million vehicles last year).
Nevertheless, demand for the new mid-engine sports car, including the latest 2021 Corvette, continues to run high, despite the absence of incentive deals. According to a recent report, the 2021 Corvette was in fact the fastest-selling car in the U.S. last month, with units spending less than two weeks on dealership lots before being sold (13.1 days, to be exact). The 2021 Corvette was the fastest-selling car in the U.S. in January, as well.
Now, with the impending arrival of more-expensive, go-faster variants of the C8 Corvette, including the new Z06 and E-Ray, the Corvette’s average transaction price will likely climb even higher, although both will be very low-volume. To note, GM recently announced that it would no longer accept new sold orders for the 2021 Corvette, with order books for the 2022 model year opening this summer.
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Comments
It may also be pointed out that corvette is apealing to more high end buyers with the new 8th gen who are willing to fork over more dollars for the little amenities offered on the LT2 trims
That could be true. But they are building more convertibles now and more LT3 trims. I bought an LT3 with some extras and it’s $90,000.00. The dealer said that they expect it this Tuesday (3/30/2021) in the morning and I can probably pick it up in the afternoon. Finally, after one and a half years of waiting. HAPPY DAYS.
You are lucky , congrats!
In the Phoenix area one Chevy dealer with 12 listed wants $30k over sticker. Another dealer south wants $15k over sticker. As we know gm has stopped taking orders for the 2021.
At that price over sticker , get a Porsche.
I really don’t understand why we have to pay some much money for an American Sports car that uses so many foreign parts including parts from China. How disgusting GM! Buy the way over the past 51 years I have owned 8 Corvettes and presently own two, an 89 and a 2019. My family and my wife’s family were GM employees and very loyal to the brand. You are making it very hard to continue that loyalty.
The C8 is still one of the highest American content vehicles available.
Canadian and US parts.
” why we have to pay some much money” No one is being forced to buy anything.
Where are these C8 Corvettes sitting on lots for 13.1 days? I want one.
So the $59K base price is now out the window? Didn’t see that one coming. *rolleyes*
None of this really matters though, when discussing a car that you can’t actually find in a any showroom anywhere to test-drive/purchase.
smh @ gm upper management decisions these days.
You can still order one at base price.
And get it when? Eighteen months—or more— from now? No thanks.
I waited 18 months for my C8. Just picked it up 2 weeks ago. Worth every single minute of the wait…
can’t order a MY2021 any longer.
Waiting for, over, 13 months, now. They promised me a 2021 , after my 2020 order was not made. I am beginning to doubt my 2021.
Wayne Middleton,
You can always buy a Mustang or FCA product and get immediate delivery.
My last 3 cars were Mustang GT s . Great cars, no problems whatsoever but now I want what I ordered. At least Ford Canada delivered as the orders came in and not allotment.
We saw other make halo vehicles follow the same trajectory. Those who are paying over MSRP may be in for a shocker when the new models are released!
You have to PAY for those HIGH salaries, Health insurance, Corporate perks , Workmans comp claims and Pensions some how . Welcome to AMERICA ! Its what OUR forefathers invisioned ! lol
What cars with similar performance and features don’t cost a whole lot more? The C8 is still a bargain, and no one is forced to buy a highly optioned version.
KM,
I’m sure you can find a good used Sunbird that will fit your needs and budget…
I paid $75k for my new fully loaded 2012 GS roadster, so taking inflation into account, and the total redesign, not a shocker.
We attended a Corvette Show in Biloxi on Saturday. Two C8 Corvettes were there. They attracted lots of attention. They looked well worth whatever the owners paid. They had a pretty good turnout and Corvettes of every generation were seen, although we only saw one C4. An 89 Convertible.
How sad, gm is alienating another generation of young car enthusiasts pricing them out of the market. Once again only us older generation folks will have the funds to be able to purchase a new C-8. At the current average C-8 prices I would rather own a new Porsche for my mid-life crisis. At least I don’t have to wait a precious year to receive it.
Don’t worry man the younger generation is only concerned about getting an uber to get their latest soy products at starbucks and co. First of all good job using the societal “mid-life” crisis statement. It is such a weak thing to say and insulting to folks to have saved their hard earned money to get said car. As it takes time to become well off. To be fair what young person who just started working could get a new corvette of any generation? Now you are partially correct in that GM is alienating the younger generation with actual cool cars. That is why cars like the camaro and other SS cars used to exist. The corvette is a halo car for chevy and not everyone can afford a halo car.
You did not pay too much, you might have bought it too soon. According to some people. Dealer premiums
will come down, and there are at least 2 dealers I know of committed to MSRP only, and the wait times are long.
I waited 1 year + 1 month for delivery. And very pleased. Anyone priced the other American mid engine sports car from Ford the GT40 ? Is it anywhere near the price of a C8 ?
Still better than what the europeans offer in terms of performance and value. The best C8 trims have not even come out yet too. Don’t get me wrong a Porsche 911 GT3 or 911 Turbo S are excellent sports cars. But like all things just because one pays way more that does not mean something is exponentially better. Just like McIntosh is very premium but Mark Levingston costs significantly more for performance that is marginally better to someone.
I wonder how this will impact the long awaited arrival of the right hand drive version into Australia, supposedly due end 2021. Speaking to a dealer last week, he suggested the price will be in excess of A$200,000 – equal to around US$150,000. Our Government has put a “luxury car tax” which is an extra 33% tax on the value of the car, so assuming the end price is A$200,000 (end price could be more), the Luxury Car Tax will be around A$50,000 (I paid A$50,000 luxury car tax on my 2019 Camaro with a purchase price of A$175,000 after Right Hand Drive conversion), means that we will be charged around US$115,000 for the car from GM, and we are not sure of the accessories or performance packages available.
But, it will still be the best value for money sports car on the market and probably best summed up with the sound of the exhaust!
purchase at base price my a#$ !!!!!! good luck with that. Greedy dealers should lose their franchise. Vette is the most profitable car they make yet that’s not enough. Remember Harley, forget sticker and also wait, today good luck selling one for sticker, how many do you want. Maybe AMF will buy the vette line, LOL. remember what people where paying for the 1978, kept them in the wrappers and today good luck, you loose.
there are dealers selling at MSRP. You have to contact some of the larger corvette dealers. Kerbeck, recently sold, is selling at MSRP and you can order the base. So you can get a corvette for 62,000.
To many dollars chasing to few goods.
It is all about supply and demand. Those comparing Porsche to a corvette will find the maintenance more costly.
The corvette at its price is a great deal that is why the demand is so much and why are they selling for more than list price?
Supply and demand in the end determines the price of anything, It is a commodity.Why do silver and gold trade at the prices they are at ? Supply and demand ! Another factor to figure in In 3 years will the Porsche be worth 60 % of what it cost ?
It appears the resale value of the C-8 is going to be higher than most other cars return in a given period.
This is a lot of car for the price GM is asking .
Yes the Vette is a good deal but take a good look at the current 911 in terms of fit, finish and materials. It’s in a completely different league.
Most importantly, drive one. As close to sports car perfection as you can get.
But don’t buy the 911. If you have to have one, lease it. Because when the warranty runs out, the true cost and pain of ownership becomes all too apparent. I’ve had 3 of them, including a 2016 GT3 RS. They’re fun cars. But feeling raped every time you interact with the dealer for service finally got old for me. It just isn’t worth it. That is why the C8 is a breakthrough: design and performance competitive with the very best but a decidedly more moderate, American approach to service. Perfection is all well and good until you see how much it costs.
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Interesting, thank you. When the article says “Average Transaction Price” — does this price include the sales tax? Is this the total cost of the transaction? Or is this figure simply the net price, prior to the addition of tax? Thanks in advance for any help.
I would have never thought a Mid engine supercar would be available for under $100,000. People that have bought at list price are very lucky others are paying what they feel they are worth. In a few years you’ll never be able to get one for this kind of price. This car is in a different league. If you think they will be readily available on the lots at todays prices in the future, good luck! They will all go up with the next Z06 and later models. Look at what the 2019 ZR1 was priced at. I always wanted a Ferrari but could never afford to buy, service and drive one. I now have my little red 2021 HTC Corvette ( Ferrari ) and I’m loving it. Thank you GM.