Following the discontinuation of the Chevy Camaro, the Chevy Corvette is now the Bow Tie brand’s sole performance car offering, with a lineup currently consisting of the C8 Stingray, C8 Z06, and C8 E-Ray. Now, it appears as though the C8 Corvette was Chevy‘s most expensive model during Q4 2023, and featured a drastic uptick in average transaction prices (ATPs).
According to a report from Cox Automotive, the C8 Corvette boasted an ATP figure of $106,032 over the course of Q4 2023, which is up 20.9 percent from Q4 2022 numbers. This makes the Vette the priciest Bow Tie product by a long shot, as the second-most expensive model was the Chevy Suburban at $76,275.
It’s worth noting that Chevy Corvette sales figures actually dropped 2.4 percent during this timeframe to 8,915 units.
So, why the dramatic rise in ATP? Well, production of the track-focused Corvette Z06 was under constraint toward the end of the 2022 calendar year, but supply slowly improved over 2023, and more Z06 units were sold in Q4 2023 than in the same period a year prior, thus raising the Corvette’s ATP.
Notably, sales of the Bow Tie brand fell 0.5 percent to 406,848 in Q4 2023, while overall General Motors sales stood at a 0.2 percent gain to 619,684 units.
As a reminder, the Stingray is powered by the naturally aspirated 6.2L V8 LT2 gasoline engine, rated at 490 horsepower and 465 pound-feet of torque in standard form. Meanwhile, the Z06 features the naturally aspirated 5.5L V8 LT6 gasoline engine, rated at 670 horsepower and 460 pound-feet of torque.
Under the skin, all C8 Corvette models ride on the GM Y2 platform, while production takes place at the GM Bowling Green plant in Kentucky.
Of course, the electrified Corvette E-Ray – which stands as the first hybrid, AWD Vette – kicked off production at the Bowling green facility in December 2023.
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Comments
Is that with or without the dealer mark-ups?
Thats not a dealer mark up thats a I appreciate your business mark up!!!!!
Says the jealous, broke, in debt up to the eyeballs, no work ethic, pay off my loans, generation whatever the limp wrists call themselves.
if your daily driver wont do 200MPH whats the point of buying it
A slow down “units produced” (and hence sold) is hardly a valid explanation for the increase in ATP. Since the calculation of ATP is an AVERAGE, it is calculated to intentionally ignore TOTAL sales. It is an average of all sales, regardless of production output.
The most likely reasons for any increase in ATP are:
-Buyers opting for more expensive options:
-Dealers increasing their local markup over sticker price.
C8 buyers are frustrated with the Z06 orders coming out so slowly while the MSRP CREEPS UP. Poor logistics by GM. Buyers are looking elsewhere.
It seems that Corvette is leaving behind the concept of an affordable sports car.
Looks like we need that “Billy Bob” bargain Vette contemplated during C5 development more than ever.
So glad I have my 22 htc/love it!
Let’s also not forget that Chevy jacked up the pricing on Oct. 2nd, which also increased the overall pricing. $2K on base, and $100 or more on accessories, and increase on NCM and shipping. This caused some to either delay or walk away from orders.
Some of this profit comes from Canada. GM decided that 25% in exchange rate was not enough , anymore , so now they go for the banks going rates , which is 33%. You can blame the dealers for that. They would order C8s and sell them back to American dealers , to get a better profit because of the exchange rates. So GM said let s get in on that also.
So then GM and Barra are surprised after several price increases on its sole performance car, that just can’t seem to get delivered on time (if at all) once ordered that sales are down?
Unfortunately I don’t believe anyone at the last executive board meeting on profit margin even raised an eyebrow.
While I received my car in approx 8 weeks after ordering and took delivery at the NCM, I was totally blind-sided by the price increases that should have been completed at the start of the 2024 ordering cycle, and not 6 weeks after it had started. While I did receive price-protection from my dealer, not all that ordered did. Hell, I could run GM better than Barra at half the price of what they’re paying her.
Crazy Mary destroyed the Camaro by not allowing the factory to build as many cars as the dealers want. Now it’s time to get rid of the Vette. What is the reason for me waiting 2 years now and still not placing my order with Ciocca Chevrolet. GM had to know that thousands of buyers would want the Z !!!
The manufacturer constrained output is clearly part of GM’s marketing strategy to elevate the C8 from a competitor of domestic sports cars into the market to a competitor of more expensive foreign sports cars. Those too have quite limited unit production in order to make them “sought after” rather than “common place”.
Image and exclusivity is everything when you reach this price point.
I wanted to buy one but the criminal level of price dealer mark ups drove me away.The car is fantastic so you don’t need gimmicks to sell them and what sense does it make to show a factory MSRP when the dealers won’t honor it? Ridiculous. Sell them for the price that is advertised and they won’t be able to make enough. More Vettes on the road equals awesome.