The C8 Corvette is in high demand, with every last unit getting scooped up at a very fast pace. In fact, the mid-engine Chevy Corvette was the fastest-selling new car last month. No surprise then that dealers are marking up the C8 Corvette, sometimes quite significantly. However, the markups should begin to go away now – here’s why.
As GM Authority covered previously, the C8 Corvette Stingray recently moved to an ADS (Available Day Supply) dealer allocation model with the introduction of the latest 2022 model year. For those readers who may be unaware, a dealer allocation model sets the number of units of a certain vehicle which the dealer will receive. The ADS allocation model determines this based on the number of days it takes the dealer to sell the vehicle – the more quickly a vehicle is sold, the greater the allocation that dealer will receive.
Previously, dealer allocation for the C8 Corvette was based on historic volume, with dealers that historically sold greater volume receiving higher allocation. The speed with which those vehicles were sold would not play a role in determining the vehicle allocation, so high prices did not necessarily play a role.
Now, however, that changes with the new ADS dealer allocation model. So, how does that affect C8 Corvette markups?
Quite simply, the ADS dealer allocation model encourages dealers to sell units as quickly as possible, with the goal of achieving a higher-than-average days-to-sell in order to receive greater allocation. As such, there is a greater incentive to offer the most competitive price possible, thus potentially removing the high dealer markups seen previously.
As a reminder, production of the 2022 Chevy Corvette C8 is set to begin on September 6th, 2021, according to GM Authority sources. It should be noted that the exact date is subject to change given external factors, such as the ongoing global microchip shortage, among other things.
The 2022 Chevy Corvette C8 introduces a few changes and updates over the preceding 2021 model year, including new exterior colors, as well as a the introduction of the IMSA GTLM Championship C8.R Edition.