$60,000 Starting Isn’t Enough
The 2020 Chevrolet Corvette has a starting price of $60,000. It now seems that the price might be a little too low. Well, we’d actually love it if GM would give away Corvettes, but it is a company and they need to make money, and at a $60,000 starting price, the company isn’t making any money.
According to Motor Trend, GM will lose money on every 2020 Corvette sold for less than $80,000. The development of the C8 Corvette was costly, and GM has to sell a lot of Corvettes that cost more than $80,000 to make up for that. There’s a good chance that GM will actually raise the price of the C8 Corvette for 2021, but it won’t go up enough to make each and every Corvette the company sells return a profit.
Motor Trend actually noted that the assumed starting price of the C8 was $79,995. That’s a pretty far cry from the $60k starting price that the car ended up with. The next hurdle for Chevrolet will be the performance variants of the Corvette. Chevy is hoping to hit between $80,000 and $100,000. The company did say that once the price hits six figures they see a dramatic decline in sales. It’ll be interesting to see where the price tag falls. We have our fingers crossed for the Z06 or ZR1 to be under $100k, but it doesn’t sound like Chevy will be able to make that happen.