The 2024 Corvette E-Ray sets an important precedent for the iconic sports car nameplate, dropping in as the first-ever hybrid-powered, all-wheel-drive production Corvette ever made. Naturally, there are plenty of folks out there eager to get their hands on one of these machines, which could lead some owners to flip their new ride for a quick buck. In order to mitigate this practice, GM has announced new 2024 Corvette E-Ray ownership requirements.
As it turns out, new 2024 Corvette E-Ray buyers will be required to sign a document which stipulates that if the vehicle is sold or ownership is otherwise transferred within six months of taking delivery, the customer will lose the privilege of placing vehicle reservations or sold orders with a dealer for future high-demand models. These high-demand models will be identified by GM, and may include both future Corvette variants and non-Corvette models.
In addition, owners who sell their 2024 Corvette E-Ray within six months of taking delivery will risk voiding the warranty on their vehicle. If a new 2024 Corvette E-Ray owner does sell within that six-month time period, they will be required to communicate the loss of warranty coverage to the transferee.
That all said, the warranty covering the 2024 Corvette E-Ray hybrid system battery would not be voided if the car is sold in six months. The hybrid system battery warranty will remain valid for eight years or 100,000 miles (whichever comes first) regardless if the car is resold in the six-month period outlined.
Last year, GM issued similar ownership requirements for the 2023 Corvette Z06, Cadillac Escalade-V, and GMC Hummer EV, all of which are considered to be high-demand GM vehicles that could be the target of speculators. Vehicles originally had an ownership requirement of 12 months, but the requirement was later lowered to six months. What’s more, GM offered 500,000 My Chevrolet Rewards points (a $5,000 value) to those 2023 Corvette Z06 owners who met the ownership requirements. Unfortunately, the rewards points are no longer available for meeting the ownership requirements for the 2024 Corvette E-Ray.