[TorqueNews]

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GM has already received enough orders for the 2014 Chevy Corvette Stingray to cause a backlog. But is this a good reason to increase pricing? The price increase has already been discussed in this forum, but Patrick Rall from TorqueNews reports that not only the Corvette Pricing, but also the pricing of the most popular package is increased.

Originally reported at http://www.torquenews.com/106/gm-raises-2014-chevrolet-corvette-stingray-pricing-ease-demand

General Motors knew that the 2014 Chevrolet Corvette Stingray would be a hot seller with such incredible performance capabilities coupled with a fairly low price relative to other sports cars that cannot keep up with the C7 Stingray. The new Stingray starts at $53,000 yet it can lay the smack down on much pricier sports cars so not only does the stunning new Corvette apply to Corvette fans – it also appeals to those drivers who just plain love to go fast. Some might scoff at calling a car that has a price ranging from $51,995 to $70,000+ as a bargain but the 2014 Corvette Stingray is a better bargain sports car than anything else on the market today.

The 2014 Chevrolet Corvette Stingray was a big seller as soon as it became available – so much so that a waiting list for the C7 fitted with the Z51 package quickly grew to over a year long. Early demand for the new Corvette was so great that dealers began suggesting that prospective buyers plan on getting a 2015 model instead. Based on this massive amount of interest, GM feels that they can raise the price of the entire Corvette lineup without pushing sales below the expected numbers. Basically, GM is raising the price of the 2014 Corvette to a point where they will expect to be selling as many Corvettes as they can build whereas right now, the company is selling more Corvettes than they can build.

Fortunately, the pricing increase for the 2014 Chevrolet Corvette Stingray is a fairly minor one considering that the base price is $51,995. Both the Corvette Stingray Coupe and Convertible both receive increases of $2,000 to their base price so the 1LT Coupe now begins at $53,995 while the droptop 1LT Stingray starts at $58,995. The high performance Z51 package – which was being equipped on some 75% of Corvettes ordered early on – also gets a jump in pricing from $2,800 to $4,000. This means that the least expensive 2014 Corvette Stingray Z51 Coupe starts at $57,995 while the Z51 Convertible starts at $62,995. Before any options are added, the top of the line 3LT Z51 Corvette Coupe starts at $66,000 while the convertible version of the loaded up Stingray starts at $71,000.

While this may thin the number of orders coming in for the 2014 Corvette Stingray with the Z51 package, there is still going to be a wait for a custom ordered car for quite some time. On the other hand, dealerships around the country have new Corvettes on the their lots right now so those impatient folks with $50-60k burning a hole in their pocket can probably be driving around in a new Vette before this weekend is over – for a bigger price of course.

 

[mjw930]

Great opinion piece, no facts and at least 2 glaring errors.

Error 1 - "so much so that a waiting list for the C7 fitted with the Z51 package quickly grew to over a year long". Sorry but this is simply wrong, Z51 are not only being built and delivered every day dealers have in stock inventory. Sure, poor unenlightened potential customers have fallen victim of dealers who have no allocation or so little allocation they cannot place a Z51 order but in the grand scheme of things they will build over 15,000 Z51's, certainly meeting demand though probably not exceeding it by much.

Error 2 - "there is still going to be a wait for a custom ordered car for quite some time".. Again, this really only applies for small dealers. Hundreds of custom orders are being placed every week yet large volume dealers are still padding allocation with vehicles for stock because they don't have a backlog of customers waiting to custom order. Pick the right dealer and unless you want a multi-roof package your order will get placed within a week and you'll be driveing your car within 2 months. All be it at a higher price than people who ordered 2 weeks ago.