Stingray Corvette Forum banner

1 - 15 of 15 Posts

·
Registered
Joined
·
4,657 Posts
Discussion Starter #1
Basically this has flown under the radar on this site........ (unless i missed a thread dedicated to this announcement)

I'm surprised none of the dealers have mentioned this considering many here have access to and take advantage of employee and supplier pricing. According to reports on other sites GM has raised the dealer invoice price on 2016 C7's by as much as 3% while keeping the MSRP the same.

The net effect to program participants is a 3% increase in the price you will be paying for a 2016 C7. It also means the days of 9% - 10% discounts from the likes of Kerbeck and MacMulkin are gone.

Would any dealers care to elaborate?
 

·
Registered
Joined
·
5,006 Posts
The only thing I've heard for sure is Corvette, but it appears the margins on other model lines were already on par with the new Corvette pricing.
 

·
Registered
Joined
·
5,453 Posts
Basically this has flown under the radar on this site........ (unless i missed a thread dedicated to this announcement)

I'm surprised none of the dealers have mentioned this considering many here have access to and take advantage of employee and supplier pricing. According to reports on other sites GM has raised the dealer invoice price on 2016 C7's by as much as 3% while keeping the MSRP the same.

The net effect to program participants is a 3% increase in the price you will be paying for a 2016 C7. It also means the days of 9% - 10% discounts from the likes of Kerbeck and MacMulkin are gone.

Would any dealers care to elaborate?
If they chopped the margin to dealers by 3% they are gonna be pissed and will react in different ways. Look for the dealer to try and raise things like the doc or dealer service fees to make up for it.
 

·
Vendor
Joined
·
70 Posts
2016 Chevrolet Corvette Price Increase – Effective July 17, 2015

2016 Chevrolet Corvette Price Increase – Effective July 17, 2015

Chevrolet is announcing revised model year prices effective with vehicles produced on or after July 17, 2015.

This revision affects 2015 Camaro, Caprice, City Van, Equinox, Express, Impala, Malibu, Silverado, Sonic, Spark,SS, Suburban, Tahoe, Trax, Volt and 2016 MY Cruze Limited, Corvette, Impala Limited, and Traverse.

Optional dealer discounts will decrease 3% and dealer invoice amounts will increase accordingly. Model dealer discounts remain unchanged except 2016 MY Corvette.

Dealer price schedules will be available in GlobalConnect effective July 17, 2015.

Sold order price protection eligibility dates are dictated by the customer and dealer order dates as follows:
-Customer order date must be prior to the date of the price increase.
-GM systems order date (date dealer enters in GM system) must be no more than one work day after date of the price increase.
These units will be invoiced at prices in effect at the date of production; however, the dealer open account will automatically be credited for the price increase once the unit has been delivered.

Refer to the price protection effective date on the invoice.

Chevrolet reserves the right to discontinue or change prices at any time, without written notice. All rights reserved.

Please file this administrative message with your 2015/16 model year pricing information.

It is anticipated that this pricing information will be reflected in the Order Workbench Configure a New Vehicle process at 8:00AM EST July 23, 2015.
 

·
Registered
Joined
·
4,657 Posts
Discussion Starter #6
The only thing I've heard for sure is Corvette, but it appears the margins on other model lines were already on par with the new Corvette pricing.
Absolutely, the margins on the C7 were huge compared to most of the other models. For example, I priced out a 2016 ATS-V and the supplier price was less than 5% under MSRP as it is for most GM vehicles. Hell, on a Cruze the supplier discount is about $500.
 

·
Registered
Joined
·
4,657 Posts
Discussion Starter #7
If they chopped the margin to dealers by 3% they are gonna be pissed and will react in different ways. Look for the dealer to try and raise things like the doc or dealer service fees to make up for it.

Agreed but I think the reality is most dealers were discounting C7's by at least a few percentage points and that most certainly will end. I also believe this gives GM the ability to include the C7 in marketing programs with incentives so perhaps the net price to the average consumer won't be significantly effected, who knows.....
 

·
Administrator
Joined
·
14,879 Posts
Thanks for posting Ken and mjw930.
 

·
Registered
Joined
·
4,657 Posts
Discussion Starter #10
2016 Chevrolet Corvette Price Increase – Effective July 17, 2015

Chevrolet is announcing revised model year prices effective with vehicles produced on or after July 17, 2015.

This revision affects 2015 Camaro, Caprice, City Van, Equinox, Express, Impala, Malibu, Silverado, Sonic, Spark,SS, Suburban, Tahoe, Trax, Volt and 2016 MY Cruze Limited, Corvette, Impala Limited, and Traverse.

Optional dealer discounts will decrease 3% and dealer invoice amounts will increase accordingly. Model dealer discounts remain unchanged except 2016 MY Corvette.

Dealer price schedules will be available in GlobalConnect effective July 17, 2015.

Sold order price protection eligibility dates are dictated by the customer and dealer order dates as follows:
-Customer order date must be prior to the date of the price increase.
-GM systems order date (date dealer enters in GM system) must be no more than one work day after date of the price increase.
These units will be invoiced at prices in effect at the date of production; however, the dealer open account will automatically be credited for the price increase once the unit has been delivered.

Refer to the price protection effective date on the invoice.

Chevrolet reserves the right to discontinue or change prices at any time, without written notice. All rights reserved.

Please file this administrative message with your 2015/16 model year pricing information.

It is anticipated that this pricing information will be reflected in the Order Workbench Configure a New Vehicle process at 8:00AM EST July 23, 2015.
I had to read this a couple times to make sure I was comprehending it correctly.

First, it looks like GM bases dealer cost as a percentage discount from MSRP. That's important to recognize since 3% less discount is more than a 3% rise in invoice price.
Second, dealer cost on options goes up across the board.
Third, dealer cost on the base vehicle remains the same for all vehicles EXCEPT the Corvette.
Forth, we don't know yet what the increase in cost (decrease in discount) is for the base price on the Corvette although other dealers are assuming it's the same 3%. That won't be known until the morning of the 23rd.

Ken, are my observations correct?
 

·
Registered
Joined
·
32 Posts
So if you have a corvette on order and it is in system to be produced even after the 23rd, your price does not go up. We can refer to the previous post in this forum which states price for corvette and all options. Correct?
 

·
Senior Member
Joined
·
18,667 Posts
If you have already ordered, and you and your dealer have a written agreement you are just fine! As you will be with our forum dealers. If however, you were to walk in and order now (as compared to last month), what dealers will give you as a percentage or amount off list would be reduced.

And Z06 discounts are still not happening except under the most unusual/atypical circumstances.
 

·
Registered
Joined
·
4,657 Posts
Discussion Starter #13
So if you have a corvette on order and it is in system to be produced even after the 23rd, your price does not go up. We can refer to the previous post in this forum which states price for corvette and all options. Correct?
If you have already ordered, and you and your dealer have a written agreement you are just fine! As you will be with our forum dealers. If however, you were to walk in and order now (as compared to last month), what dealers will give you as a percentage or amount off list would be reduced.

And Z06 discounts are still not happening except under the most unusual/atypical circumstances.
To be clear, MSRP is not going up, only the invoice cost to the dealer will increase. If you have a contract with a declared price you should be golden. If you have a price based on MSRP you should be golden. If you have a price based on Invoice then you should also be golden UNLESS your dealer pulls a fast one and closes your deal based on the Invoice that comes with the car and not their final cost which will be adjusted under price protection.

All of this also assumes your dealer entered your order into the GM system as a Sold Order and did it on or before the dates in the notice.

If you have an order with a dealer it may behoove you to talk with them and make sure everyone is on the same page.
 

·
Registered
Joined
·
3,662 Posts
I did a quick check of Kerbeck's inventory: 2015's are being discounted 9% to 11% but 2016's only 6%. Z06's excluded, of course.
 
1 - 15 of 15 Posts
About this Discussion
14 Replies
10 Participants
Henry427
Stingray Corvette Forum
We’re a forum community dedicated to the 7th Gen Corvette Stingray. Come join the discussion on performance modifications, accessories, purchasing, maintenance and more!
Full Forum Listing
Top