Pretty much everyone assumed the 2021 Corvette would be a little pricier than the 2020 version, because historically that’s been the case for the second year of a new model car. And, Chevy is said to be losing money on the lower trims of the ’Vette. But, apparently because of the pandemic, the 2021 C8 Corvette’s $59,995 base price will carry over from 2020.
The base price for the convertible, which is $67,495, is supposed to carry over as well according to Motor Trend. Two other things: Magnetic Ride Control will be an option outside of the Z51 performance package, and there will be two new colors. That’s all in addition to a host of other unannounced changes coming for the 2021 Corvette that remain secret for now.
The price, though, is the topline. Here’s how Motor Trend’s sources describe the situation:
MotorTrend talked to sources who said the impressive base price was only good for the first year, and that the true cost of the technically sophisticated car was about $20,000 higher and would have to be recouped at some point. GM was losing money on low-trim cars and hoping to make it up on higher trims and options. But the events of 2020 have put the price hike on hold. Historically we hike the price in the second year, when the car is still hot, but we’re not going to do that, [Tadge Juechter, executive chief engineer for the Corvette] said.
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Motor Trend also got some stats on which Corvettes people are buying. Chevy has said that the 2020 Corvette is basically sold out.
Of the 20,181 total orders for the 2020 model, 83 percent of demand is for the coupe; 17 percent for the convertible, said Corvette Product Manager Harlan Charles. Breaking down coupe orders, the 3LT is most popular with 44 percent of orders, followed by the 2LT at 40 percent and 1LT at 16 percent. Torch Red is the most popular color, followed by Arctic White, Black, and Sebring Orange. For interiors, jet black is the most requested, followed by black and red two-tone.
The fact that 84 percent of the coupe orders are at the higher trims is a good reminder that the $59,995 price isn’t much more than a talking point for Chevy, since very few people (if anyone) actually buys it at that price. Which is fine—when you’re laying out that much money for a car you might as well lay out a bit more.
But it’s also a reminder that the price might be the oldest trick in the marketing book. “I mean I know I can afford a $59,995 car for sure, but $60,000 might be too much. Though, wait nevermind these other trims are better... I’m actually gonna spend $72,000—definitely worth it. I’ve been had once again.”