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Cars Many C8 Corvettes will LOSE General Motors money

16:20  03 december  2019
16:20  03 december  2019 Source:   motoringresearch.com

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We already know the price of the C 8 Corvette is going to increase slightly for the 2021 model year, but a new report may give us some more insight as to why. The publication spoke to an anonymous senior source at General Motors , who claimed the company is losing money on every C 8 Corvette

According to a new report, GM is actually losing a lot of money for every 2020 Corvette Stingray they sell below ,000. Fearing mass abandonment from their customers, GM decided it was better to take the loss on the cheap C 8 s in hopes that most would opt for the pricier trims and packages.

a red car: Chevrolet Corvette C8 loses GM money © Provided by Motoring Research Chevrolet Corvette C8 loses GM money One of the big selling points of the C8 Corvette is its surprisingly low starting price. It sounds too good to be true. But instead of customers feeling the pinch, it’s General Motors.

In America, the new Corvette will open up at the equivalent of around £46,000. This, for what is effectively a mid-engined supercar, with near-on 500hp, a dual-clutch gearbox, a quality cabin and a sophisticated construction. Now, it’s been revealed that those new Vettes that sell for under the equivalent of £61,000, will lose Chevrolet and General Motors money.

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As we know, General Motors had to pull a few strings in order to start pricing the mid-engined 2020 Chevy Corvette at ,000. That said, it apparently hasn't come cheap for the automaker who reportedly loses money on every Corvette C 8 sold under ,000.

More than a half-century since a mid-engine Corvette was envisioned by Zora Arkus-Duntov, the 2020 C 8 Corvette Stingray debuted in California. In the back you can fit a reasonable suitcase, or perhaps more befitting the typical Corvette buyer, a pair of golf bags.

a close up of a car: Chevrolet Corvette C8 loses GM money © Provided by Motoring Research Chevrolet Corvette C8 loses GM money
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This, according to Motor Trend, which discovered the extent of the Corvette’s disappearance into the red via an anonymous source high-up at GM. As a result, the low starting price won’t last beyond 2021. Supposedly, the sweet spot for profit and volume on the new Corvette is on cars optioned between the equivalent of £60,000 and £76,000. Anything over £76,000 (or $100,000) sees a drop-off of buyers given the expense.

So why are Chevrolet and General Motors taking this hit, especially on such an eagerly-anticipated and important car? Well, that’s exactly why. The mid-engined Corvette has been a long time coming, and something of an inevitability.

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A source from General Motors revealed that every Corvette C 8 sold at that base price will be making a loss for the company, so prices must increase for With all this in account, you bet that GM is hoping most first-year Corvette buyers are optioning them up; as fully optioned - the price reaches just under

More specifically, the source said GM is losing around ,000 on every low-trim 2020 Corvette model. That’s because the original budget for the C 8 That would have been the correct price for GM given the huge amounts of cash that went into developing the mid-engine car but the carmaker likely

However, one of the biggest worries about its arrival has been cost. One of the Corvette’s long-standing party pieces has been the value proposition. Take that away, and support and the customer base dissolves. In addition, it then has to face much stiffer criticism, as the price levels the playing field by comparison to rivals that have, in the past, been more tightly buttoned-up.

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a close up of a car: Chevrolet Corvette C8 loses GM money © Provided by Motoring Research Chevrolet Corvette C8 loses GM money
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The Corvette is no stranger to price rises. First-year C7 generation cars were sold at a relative discount, though not to the extent the C8 will be.

Chevrolet’s hopes are pinned on customers inflating the price of their car themselves, by getting pen-happy on the options list. Taking a leaf out of Ferrari’s optional £3,995 carbon fibre book…

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Chevy loses money on every sub-K C 8 sold, a source tells us. The all-new mid-engine C 8 Corvette 's impressive ,995 starting price is only good for the first year, as we reported back While we still don't know how much the C 8 's price will rise in 2021, a more senior GM official tells us it would

The Chevrolet Corvette ( C 8 ) is the eighth generation of the Corvette sports car manufactured by American automobile The C 8 Corvette Stingray uses a new version of the LS based GM small-block engine derived from « previous—Chevrolet, a marque of General Motors , road car timeline, United

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a red car parked on the side of a road: Chevrolet Corvette C8 loses GM money © Provided by Motoring Research Chevrolet Corvette C8 loses GM money

Chevrolet is playing the long game with the C8. There are high-performance variants in the Z06 and ZR1, which can command higher prices. Exactly how much more expensive the base car will become in 2021 remains unknown. According to Motor Trend’s GM insider, the price would have to ‘go through the roof’ to cover costs.

Talk of loss on the Corvette is curious, given the common benchmark against which it’s tested, the Porsche 911. The long-standing German sports car happens to be the most profitable car in the world. The C8 is an all-new ground-up car, however. Porsche benefits from generational development, and a layout that hasn’t changed for near-on 60 years.

The post Many C8 Corvettes will LOSE General Motors money appeared first on Motoring Research.

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