Anticipation for the 2023 Chevy Corvette Z06 is high, with countless fans eager to get the new mid-engine supercar into their driveway. Unfortunately, GM Authority has learned that 2023 Chevy Corvette Z06 production will be heavily constrained for the foreseeable future.
According to GM Authority sources, 2023 Chevy Corvette Z06 production will be constrained at just 10 percent of accepted orders due to what the automaker refers to as a plant restriction. For now, there’s no end date in sight with regard to this latest production constraint, and for the time being at least, the constraint is applied for the entire 2023 model year. That said, it’s possible the constraint may change over time.
As GM Authority covered previously, production of the 2023 Corvette Z06 will begin in September at the GM Bowling Green plant in Kentucky. It’s unknown at this time the number of orders GM is accepting for the new mid-engine supercar, nor is it known how many units GM will end up building. That said, we can safely assume there won’t be many throughout the 2023 model year.
Per previous GM Authority coverage, GM will allocate new units of the 2023 Chevy Corvette Z06 to dealers using a Historic Sales Volume model based on 2020, 2021, and 2022 Corvette C8 Stingray 3LT sales volume. This is in contrast to an Average Day Supply dealer allocation model, which takes into account the number of days it takes a dealer to sell a certain vehicle.
Pricing for the 2023 Corvette Z06 starts at $106,395, making it less expensive than a variety of high-end rivals. Notably, the new Z06 is also expected to include a $2,600 gas guzzler tax.
As a reminder, the 2023 Corvette Z06 is motivated by the atmospheric 5.5L V8 LT6 gasoline engine. Output is rated at 670 horsepower and 460 pound-feet of torque, while under the skin, the new Z06 rides on the GM Y2 platform.
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Comments
Screwed up launch only giving dealers more reason to pad the sales price!
Going to be the game of who has the deepest pockets
For around $200k, you can buy a real Italian car.
Not sure if I’d call this a constraint.
GM has stipulated there will be 2500 units of the Z06 for 23. GM has contracted with suppliers to produce parts for those 2500 units. Those parts will be received over the course of the year and Z06s will be produced throughout the year as those parts are received.
It’s a low volume super car. This shouldn’t be tough to comprehend for individuals wanting this car. Get in line and wait your turn.
Saw an invoice from a particular dealer who is stating the Corvette Z06 ordered will be charged at $90,000 above MSRP…
Wonder how far up that dealers ars a Z06 will make it😂😂
Probably not very far. At only 2,500 units in 2023, very few will be unaccounted for. To use similar wording, “there’s an ars for every seat” – no matter the cost.
That dealer got seriously shamed on social media about that and has since lowered all pricing on the Z06 to msrp and is refunding all those who paid the premium.
Mac Haik Chevrolet in Texas.
Have to wait until the stock price goes back up so they can produce these profit loss productions and keep the profitable company appearance up a little longer. Guess no one else noticed how they once again back dated and increased sales figures. Their corvette sales numbers by year are higher than thier own corvette production numbers once again.. shocker..
I t sounds like sour grapes is your forte. GM is fine financially, they dominate the large SUV market and their trucks and cars sell well too. They are a major manufacturer in China, where the “Real” money is made so your facts a highly flawed.
Keep raising the price along with dealer mark ups and sales will tumble! Greed will be the demise of our wonderful Corvette at the rate it’s going! Tomg
Raising the price will have little affect on sales. Folks are willingly paying over MSRP already and that proves my point. Actually, GM is not the bad guy in this scenario, it’s the dealers. But the car buying public complains, but then rolls over, and pays the price.
Face it, if you got your hands on one of these first Z06’s, of which there will only be 2500 made and demand probably numbers in the tens of thousands, you’d be sure to voluntarily sell it for a fraction of fair market value just so the next buyer could profit when he sells it, wouldn’t you?
Everybody thinks they’re righteous until they’re put in the same situation. I’m sure you never went into a dealer and told them you’d take $50k less than market value for your trade in. Next fact is, if you were fortunate enough to get a dealer to sell such a car to you for 5-6 figures below market price, I’m sure you’d still price-shop him on the next car you get once things return to normal.
Dealers own the car when they order it. They can offer to put your name on it, but that check left their bank account first and they own it, for better or for worse. The manufacturers and their stockholders liked it that way because that immediately absolves them of any risk and they can immediately show a profit before it even leaves their production line. Right now it happens to be in the dealers favor, but that hasn’t been the case for most of history, with cars literally overflowing from dealer lots and their profit margins squeezed to near-zero, and that’s why the manufacturers can’t/won’t take any action about markups. So GM plays plenty of the bad guy in this situation.
Spot on. The dealers didn’t make the market, buyers did. Supply-demand is always the driver of transaction price. Why should a franchised dealer invest millions to comply with the manufacturers requirements and then sell a vehicle and watch the secondary market demand AND GET get thousands more than they made on it? And if MSRP is all any vehicle should ever be sold for then why do buyers demand thousands off MSRP for overstocked readily available vehicles? Supply and demand.
I heard that GM will not honor the 1st year of warranty for secondary owners of Z06 cars flipped within one year of original purchase. Given that this is a “clean sheet” engine that shares no parts with any other, there could be trouble. Very risky to run around without a warranty in the 1st year of production. So let’s give GM some credit here for discouraging the flips.
Disgusting. This is what gives free market capitalism a bad name. Every seller is entitled to make a reasonable profit, but what happened to ethics, integrity ? I suppose you would say that selling a bottle of water to a man in the desert for $1000. is just fine, because he is desperate. It is not as simple as saying something is worth whatever someone is willing to pay for it. That philosophy corrupts society, breeds greed, avarice, selfishness. and will eventually cause it to collapse because it is the ” every man for himself ” attitude, and it never ends well. Ask yourself Are those the values you want your children to have ?
That’s ok. Those buying early during the first year of production of an exotic “clean sheet” engine with lots of new technology placed in a very hard to service mid-engine car – are asking for trouble. Production will eventually catch up closer to demand over time – and the later cars are bound to have fewer defects.
If you want a good value, fun to drive car, with limits very high (higher than my sense of preservation allow),
order up a Stingray C8, you will not regret it.
It is easier for me to dig-in and turn my sights onto my C8 and realize that this is the car I will stay with.
I did a price and build for a friend on a 2023 Convertible , $83,000 dollars, with very little to zero mark-up.
He was thrilled at the prospect. There are several MSRP dealers, the dealer I use is $5k markup, but they offer something special for the $5k, you can back out of the deal, even after delivery, and get all your money back, including the $5k.
My order for a red mist HTC went in Friday. Coulndnt get z51 package. I had a small mark up but the dealer had a used one, 12k miles 2022 with many options and they wanted 139k for it. Of course many will let you back out because if they sell it, the mark up will be tremendous, more than a small mark up from the person that would habe kept it
I’m not unfairly picking on them or being over-dramatic in saying this…this is the worst new vehicle launch since the failed 1983 Corvette launch, and I can’t believe that they’re F-ing it up again during an anniversary year for one of their best brands. This is what I’d expect from Tesla, not a global leader that’s been making cars for 110 years.
With it’s scale, GM should have been better poised than (they are and) others to handle the pandemic / supply chain challenges…it just sounds like pathetic, amateurish excuses at this point.
Being a lifelong GM enthusiast, I never liked or joined in when ppl called them Government Motors after their bailout, but they really are showing the same level of incompetency as the current gov’t…in several areas.
I’m glad that I’m not a shareholder.
It seems that it’s a wait and pay sceem,low production 2023 means wait for the 2024 which no doubt will cost more even though your on the list for the 2023
Spell check?
We would all buy a Z06 if the dealers we not trying to hose us with $90k markup. Even though I love my Black Camaro, Mary’s relationship with Biden is terrible. Mary – We know Tesla is already kicking your arse. I will never, never buy an EV.
I would think, just an opinion, the production restriction is due to the hand-assembled Z06 LT6 engine. There are only so many assemblers, and it takes about 1/2 day to fully assemble this engine, given that all the parts are available, and at the assembler’s finger tips.
And, given the complexity of this engine, it is not something they can tell the assemblers to speed up, hurry up, and slap them together.
I continue to express to friends that this is a ‘hand grenade’ of an engine, 4 hollow cams shafts, 8,600 RPM red line, all sorts of mechanical gadgetry and electronic technology, never used in a GM/Chev/Corvette production engine before, hence the hand-assembly of each engine.
I’m sure they started assembling these engines a while ago to build up inventory, but it is labor intensive, to be sure.
As the old adage goes, never purchase the 1st production year of a new Corvette, and with this engine, this may be more true than ever before.
This article has more questions than answers, like: Exactly what is a “plant restriction” and if production is constrained to 10% of accepted orders, why would the plant even accept an order if they can’t build the car? Also, how does the “constraint” and “plant restriction” affect the Stringray? Z06 production delayed (again) until next month, ok, does that mean that the plant plans to backlog parts before starting production? That would probably be a good idea, but, a 90% reduction in Z06 planned production sounds like a 100% reduction in good planning. The first sentence in this article should have been: “All of the following is pure speculation”. At least there is one thing we can learn for sure from reading this article and that’s we haven’t learned anything for sure from reading this article.
I agree on this article has more questions than answers. GM has produced so much hype about the Z06 that you would think the production planning would have been better prepared to meet the demand. That said, Covid, supply chain issues, etc. probably disrupted the plan but you always have a backup plan. The bottom line is whatever the issues are, GM needs to be very transparent as to the issues and plans moving forward. They need to set realistic delivery expectations for their potential Z06 clients as we will only produce xxxxx numbers in 2022, xxxx numbers in 2023, xxxxx numbers in 2024. If any of those production levels change we send out updates. I personally am on the list and would like to level set on when I can expect to order the car. If the Z06 is going to be produced in limited numbers I can accept that but GM then needs to communicate that message clearly so as to not disappoint their customers.
Guess it’s meeting the cost and exclusivity requirements of being a supercar.
Whatever happened to, first come first served? I have been waiting for over 30 months for my C8. I tried for a 2020 , no dice . I was promised , by Corvette concierge, that I would be getting a 2021 and when that fell through , my dealer said, for sure you get a 2022. Guess what? Now with 3 price increases later, and thank GOD , I am price protected for my 2023 order but at this rate it is not looking good. So I inquired about a Z06 and my dealer said I would be 15th on their list , which means a 15 year wait!!! I have been in first place at my dealership since May. They were promised 4, 2023 C8s but have gotten one up to now. Completely ridiculous customer service from GM. If I ever get my dream car , the C8 convertible , that will be my last GM for a long time.
You have a Dealer issue, go somewhere else. I looked on-line last week and found new Stingrays, lots of them, either at Dealerships or in transit, and at what looks like MSRP. Many colors and options to choose from…don’t wait any longer, go get yours.
I live in Quebec, Canada, we have a delivery issue , all over Canada. Right now, Canada is getting 1 % of C8s. I have looked all over Canada and nothing doing. They all say, wait.
First, all of the drudgerous hype and anticipation, then a pricing announcement which shocked many, and now ‘oh by the way’ you’re not going to be able to get one even if you are willing to pay the price, taxes, and markup. C’mon GM – do you really disrespect your loyal customers that much.
The Z06…..unicorn of current regular production ICE cars. It is being built and marketed just as GM planned. A low production HALO car.
I’m not surprised at all. This just confirms and validates my decision to stick with my 2022 C8 Stingray with 20k in options. It’s built just the way I wanted and only waited 11 months for it. I appreciate my C8 even more.
Lots of non sense here…
What is the yearly production of a Ferrari 488 (this is for John that a real italian supercar; well this is a real american supercar)?
Try to understand the Camaro production volume vs the Camaro ZL1 production volume. Same thing as the regular Vette vs the Z06.
I bet that most of the tools / molds for the exclusive Z06 pieces are low production tools. The suppliers have to allocate the production of that very small and limited volume at their factories most of the time in a 3rd shift basically squeezing it. Time for set up of a mold like these is a constraint as well.
Have you seen production of seat covers when there are 10 different colors of stitching? same thing with all hand made steering wheels…… It is a slow process. Skilled people that take their time.
And regarding the engine being hand built, GM has been doing so since the existence of the Wixom Performance Center, where each and every Vette engine has been built by hand, with one super skilled technician putting together one engine at a time, so yes, there is a “takt time” for each engine, which first and above all strives for Safety of the technicians, then comes Quality and then Production.
The Vette engines on top of everything are 100% Hot tested, which nowadays in the majority of other plants, they are not.
So yes, there is a constraint, but it is a natural constraint due to the nature of a super car. Wait for an even worse “constraint” when the ZR1 arrives.
Sonic, correction for Corvette engine production. Not each and every Corvette engine is assembled at the Wixom PBC, only certain higher performance engines….Z06, ZR1, C6 GS w/manual trans, like my 2013.
The C8 LT2 is assembled in BG.
You are correct Mike 8TY. Had some omissions in my comments. Wixom is now closed, but still all the HP engines are hand built. I am sure that your engine still has the adhered metal plaque with the signature of the engine assembler.
Yes, Sir, none other than Chuck DeKubber built my LS3.
Still seeking him out at various GM/Chev/Corvette events to have him autograph it.
8TY4SPD – license plate on my numbers-matching 1980 with 4 spd man trans, the best old model Corvette for cruising.
MNL13GS – ditto my 2013 GS 6 spd man trans, the best late model Corvette for cruising.
Just my opinion.
This is getting tired and lame. Perhaps GM should not have a total of 55,000 C8’s backed up in the order books. Forget the Z06. 55K is two years of orders in total right there. GM need to get straight, use their scale to source from reliable suppliers and stop making Business 101 errors like continuing to accept orders they cannot possibly deliver on any time soon.
What does steve carlisle say about all of this ??? Pretty quiet !!! All of them are quiet !!!!!
GM is not serious ,they are playing with customers a game that reveal a aspect of no trust !
One constraint that effects both the Stingray and the Z06 is the Z51 performance package. That is stopping the production for a lot of builds. One problem is supply and demand.
What’s the hold up? When will that constraint be lifted? It would be helpful to many buyers to find out more about that constraint. That would be a great article to read if someone would do the research.
After reading this article a few times, I am starting to wonder what GM’s long-term strategy is for the Corvette both ICE and EV. Since there is this big push to have all vehicles be EV’s I am starting to think GM is rethinking its strategy for the Corvette. I am thinking the ZO6 will end up being a limited production run for the next two years followed by a limited production ZR1 for two years. In parallel, they will introduce the E-Ray which will not have a limited production followed by the Zora which most likely be a limited run. I am starting to believe GM’s strategy is to eventually eliminate the ICE Corvette by 2030. I hope I am wrong for a lot of reasons but politics and money control the direction of the auto industry and the push to eliminate ICEs is well on its way whether we like it or not. I am sure I will get a lot of thumbs down on this comment which is fine, it’s just something to think about.
I don’t think your thoughts are unreasonable. I had similar thoughts. How will it look if gm has an ICE vehivle as a highly sought-after, high demand vehicle? I’m looking forward to see how the E-ray does.
Getting in line and waiting your turn is no longer an answer. A friend ‘ordered’ and put a deposit on a Z06 in 2019, when the C8 first came into being. Now, 3 years later the major chain owned dealer who promised MSRP and delivery based on deposit date tells him he is 12th in line (he was 2nd) and he will probably see a car in 2024. Dealers need to be able to make a buck, but they should also need to keep their promises. No longer, now its just ‘how much are you willing to pay’. He now says ‘screw the bowtie, if I have to pay Porsche GT3 money I am going to get the GT3. This was going to be a conquest sale for GM as a lifetime Ford and BMW guy was going to get his first GM product. Now he is pretty bitter.
I have a Z06 order in, but realistically, it’s probably not going to happen. Therefore, I picked up a 2022 3LT loaded with 230 miles for $100,000.00. Was over MSRP, but a May 2022 build and no regrets. At my age can’t take it with me. The Z06 ordered from a dealer that sells at MSRP and only $500 deposit.
Stop advertised something that you delivered, it’s not serious and absolutely a minor league way to deal a sports car ! go to Porshe and take a lessons ! Be professional!