Dealers Still Marking Up The Corvette C8
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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?
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There are dealerships that stick to MSRP!
We need to get a black list on all dealships that do not….best way is to notify corvette clubs!
Ferman Chevrolet of Tarpon Springs is selling C8 Corvettes for MSRP. The ones that are online are ordered units. Because GM forces them to the website when they ship, they are marked up significantly so no one inquires on the them. These units are ordered sold units at MSRP. Also in our disclosure they are marked as ordered units! These comments should be deleted.
Reality is even when ordering and waiting dealers are adding market adjustments.
My 1LT Elkhart Lake Blue Coupe is MSRP at $63k and when the order was placed back in December the dealer added $10k on the order. At least they were upfront about it. At 3300 production code today. 8 months from the date I gave them the deposit.
You know what’s crazy. I work at a very small dealership as a transportation guy. I had my 2012 Ford Taurus put in as a consignment car. Listed it at 10,500.00. Plain old Black Front driver SEL leather 165,000 miles very clean. I left for the day came back and there was a sold tag on it. Full price. That’s messed up.
The dealer markup situation is EPIDEMIC: GM (Cadillac CT4V & CT5V Blackwing, Corvette…), Ford (Mustang Shelby GT500, Bronco, Raptor…) and now Acura –
My local Acura Dealership Manager advised me that they are adding a +$5K markup over MSRP for the Acura TLX Type-S. Note the MSRP for a reasonably equipped build is in the the $55K range. Here is my email reply to the dealership when the “Markup Conversation” surfaced…
I have had rather unsettling experiences when trying to purchasing limited allocation vehicles. Hence I have decided to omit dealers that are amplifying the price above MSRP from my list. Of course, if there is clear and convincing value that the your dealership is delivering for the markup, I am willing to listen and review substance the “added value” you are proposing.
Otherwise, here are my key concerns on markup of MSRP –
(1) The used car resale value considers only devaluation from MSRP (not what was actually paid when purchased new);
(2) Adding $5K to the MSRP puts the price of the Acura into competitive territory with similar cars from BMW & Mercedes (ie – the price/performance advantage is diluted);
(3) Last but not least, other Acura dealers in my area willing to sell the car to me for MSRP (so why pay more?).
I have not yet placed a deposit, however, if your dealership is willing to place a greater value on gaining a new client with a potential for many future purchases over a one-time transactional markup for profit, I am willing to reconsider.
——-
THEN…. THE “HIPOCRACY OF A REPLY” FROM THE DEALER TO MY EMAIL – “Thank you for getting back to me David. I am sorry you feel that way, but given the numbered cars, there will not be unlimited inventory on the Type S and there is a premium to them. Should you consider an A-Spec we certainly could talk numbers and there are rebates available, we just do not have the wiggle room in the Type S.”
“UP FOR AUCTION IS MY 1945 MONOPOLY GAME! IT’S FROM THE SAME YEAR WORLD WAR II ENDED! THIS ONE IS NOS, IN ITS ORIGINAL SHRINK WRAP! YOU’LL NEVER FIND ANOTHER ONE LIKE IT IN THIS CONDITION, ANYWHERE IN THE WORLD! $10K, FIRM!”
That and dealer-price-gouging-mark-ups on C8’s…People living in an “alternate” reality…makes you wonder where or whether they even went to school and what they learned…if anything…
GM is closely monitoring all dealers engaging in mark up practices above MSRP. Future Allocation for any dealer engaging in such practices will be severely impacted. Probably not the best sales process to engage in if a dealer wishes to maintain allocation.
just remember all those silver and black corvette indy pace cars that were selling for thousands over sticker that were stored away because they were going to make the owner rich someday
Paying $25000 -$100,000 over sticker new will the next owner pay you that ? mark up for the owners pocket let the rich kids fight over them = dealers and the buyer who does not even get to drive it I’ve seen maybe 5 on the road this yr maybe like the Ford gt going into collections not to be driven but at msrp c8 is a great sports car any one should be able to afford buy drive maintain
In 1986, I went to a Detroit Honda dealer to get a quote on the new 2-seat CRX. When I questioned him about the price, he admitted it was above the MSRP. I drove up the road to the Acura (first year in the US) dealer, and bought an Integra at list price and got a more advanced engine, as well.
How about we just tell those Chevy dealers to go F**K themselves!
Selling over MSRP is not new for ANY brand. A dealer/friend of mine explained that MSRP is “just a number” and it’s “the market that sets the price range”. I was surprised that Chevy/GM would allow any dealer to sell a new vehicle over MSRP. But then, my dealer also acknowledged that there are some vehicles that they simply can’t sell at MSRP and always have to discount. So… what others here have already said here is true, the market price is determined by what people are willing to pay. Like it or not, that’s the free market system and goes well beyond dealers. We’ve all seen the multitude of used C8’s being advertised by private sellers for consistently above the original MSRP. In many cases over MSRP by $25 – $30k even in the used/private market. I do not consider myself a greedy person, but if I were to sell mine (which I paid MSRP for) I would sell it at market prices (above even MSRP) and not something less just for the principle. Would I then be part of the “problem” or would it be the person willing to pay market. Or… would it simply be the way the market works.
Look GM tried to discourage this as much as they can but laws regulate things to the point an MFG is limited to the extent of what they can for a dealer to do. The government laws protect the dealers from many things including what they charge for product. This is why your widow sticker has a MSRP on it to let you know what they feel is the correct selling price.
In other words you were warned.
This is also not food or water. If they are screwing people on price at the dealer then don’t buy the car. You only get screwed if you pay the price.
Stop complaining about the dealers and GM as the control is in the hands of the buyers. Get mad at the idiots over paying. In time the prices will drop back and they will be the ones still screwed.
All Corvette prices are up now as even C4 and 5 prices are up. People are buying used products now as that is often all they can find.
My truck I bought new in 17 I paid $38K for it is bringing $42K on the market used now.
The lack of chips, the lack of inventory and the rush coming out of the virus has driven prices up in the car market. We are also seeing the same in the housing now as houses are short, wood went up and demand is high.
I have seen many houses going over asking price by people that never even set foot in the house. Many are buying sight unseen as houses are selling in hours not days.
These are strange times we are now navigating though. As for the Vette. You want a fair price sit back and wait as it will come to you. If you need one that bad then pay the penalty but you know you can live with out one if you really want to.
The smart folks are the ones who will wait till next year and let the ZO6 arrive and those with the Z51 models now will trade up and give the market a number of low mile C8 models at a discount.
2489048754 anyone wishing to sell 2020 vette call Ms. MOTOR CITY please
They are not marking them up. One of the cars on there is mine and I am picking it up this weekend. The reason they adjust the price is they get a lot of calls about them. It is to deter callers. They had one that was canceled and they did sell it for $125 but those in the article are all spoken for.
Picked it up Friday and paid MSRP. Thanks Bogi and Ferman cheverolet. See you from the Z06.
See you for my Z06 order. For now I’m enjoying my LT2. I’m really happy it’s worth every penny and all the hard work I did to get it.
Not worth anything over MSRP.
It’s a Corvette, in a coupe of years anyone that paid over Will wish the had the cash back.
Whenever it gets traded in or sold it will be a used Corvette and the dealers win again
The Ferman dealership in Tarpon Springs has all of the Corvettes presold at sticker pricing. The additional money you see online is to deter incessant callers from attempting to buy before their Corvette arrives. For proof, feel free to call in and receive the same story.
Dan and Freman thank for my new baby. I love it and loved working with Bogi. I already ordered a Z06.
Just curious. How did you “order” a Z06 – or do you mean that you’re on a dealers standby/waiting list ? Thanks
I’m on a waiting list with a $500 deposit.
Minor correction on original launch date: Chevrolet made a big deal about the launch date being July 18, 2019, which the Internet documents copiously, as in this GM Authority blog:
“After roughly two years’ worth of rumors, speculation, and spy shots, we now have an official date for when Chevrolet will hold the mid-engine Corvette C8 reveal. That magical date is July 18th, 2019, according to an official email sent out by Chevy to fans, followers and owners. That’s one less thing to speculate about.”
Guy & Dolls,
i know of a dealership that will sell you a new corvette for sticker price and if you are out of state they will deliver it to you for a charge of apprx $1,800…
check out Chevy Dude on youtube, watch the channel and he will answer all your questions…
they are an honest chevy dealership… ask for Mike.
good luck!
Penske Chevrolet in Cerritos Auto Mall ( Calif) is $35,000 over sticker.