We knew the C8 Corvette wouldn't stay a sub-$60,000 car forever. As it was, the mid-engine sports car debuted just $5 under the benchmark price point with destination charges included, and the vast majority of buyers didn't choose a no-option base-model 1LT anyway. Still, it was a boasting point for the automaker but that will be changing soon. Very soon.
We have word from the Corvette Action Center website that a $1,000 price increase across all Corvette trim levels will take effect on March 1. Motor1.com confirmed the report with a Chevrolet spokesperson, who told us the following:
"The MSRP of the 2021 Chevrolet Corvette Stingray coupe and convertible at all trim levels will increase by $1,000 beginning March 1. Customers who have event code 1100 sold orders and beyond by March 2 will not be impacted by the price increase on the 2021 Corvette Stingray. We monitor and adjust pricing on all our products regularly, and we’re confident the Corvette remains a winning formula of performance and attainability."
$1,000 certainly isn't a big jump, but it does officially take the mid-engine machine beyond the $60,000 barrier. Realistically, it was always just marketing speak and that was backed up by 2020 sales statistics for the C8. 1LT coupes accounted for just 15.9 percent of 2020 Corvette sales, but that doesn't mean those cars were under $60,000 with no additional options. On the other end, the vast majority of buyers jumped straight to the top-tier 3LT model, which had an MSRP over $70,000.
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In June 2020, Chevrolet said the Corvette's base price wouldn't increase for 2021, but that was before the full scope of COVID-19 was fully understood. Instead of producing 40,000-plus cars for the first year of production, only half that rolled off the Bowling Green assembly line. Numerous production shutdowns have further plagued the Corvette for 2021, and it's unclear when things might get back to normal. As it stands, another scheduled factory shutdown will run for five days starting March 1, just in time for the price increase.
Source: Chevrolet via Corvette Action Center