As is often the case for a high-demand vehicle, dealers are putting heavy markups on the Chevy Corvette C8, charging tens of thousands of dollars over MSRP. Of course, that’s to be expected, especially when considering the continuing high demand and low supply involved. However, some of the Corvette C8 markups are simply jaw-dropping.
For example, Dimmitt Chevrolet in Clearwater, Florida is offering a 2021 Chevy Corvette C8 Stingray Convertible 1LT for $115,910, a markup of $35,000 over the MSRP ($80,910). Miami Lakes AutoMall in Hialeah, Florida is offering a 2021 Chevy Corvette C8 Stingray Coupe 2LT for $125,896, a markup of $40,546 over MSRP ($85,350), while Jessup Auto Plaza in Cathedral City, California has a 2021 Chevy Corvette C8 Stingray Convertible 3LT on offer for $168,700, $75,000 over MSRP ($93,700).
Then there’s Ferman Chevrolet in Tarpon Springs, Florida, which lists a 2021 Chevy Corvette C8 Stingray Coupe 1LT for an eye-watering $161,111, a staggering $99,516 over MSRP ($61,595).
Although the markups undoubtedly beggar belief, they should also be understood in light of the current market conditions. Demand for the new Corvette C8 continues to be sky-high, with long waiting lists and very limited supply.
To that latter point, production delays at the GM Bowling Green facility in Kentucky have been a persistent problem since the launch of the new Corvette C8 for the 2020 model year. Originally scheduled to roll off the line in December of 2019, production of the new C8 was pushed back to February of 2020 due to the UAW labor strike. Following the strike, further plant shutdowns were put in place as a result of the COVID-19 pandemic. More recently, production stoppages have been incurred due to various parts shortages and supply issues, including multiple pauses earlier in the year.
All told, the desirability and low availability of the Corvette C8 has skyrocketed dealer markups. Now, the question is this – are customers willing to pay?