The Detroit Bureau reports that dealerships are experiencing a six-month backlog on the new Chevrolet Corvette Stingray, and to manage demand, some are charging anywhere from $5,000 to $20,000 over MSRP. Because of a series of franchise laws, General Motors cannot block this upcharging.
And its not just US demand that is creating the backlog. GM is aggressively trying to expand in other international markets, as Chevrolet is taking orders of the Corvette from Asia, Europe, and the Middle East.
As much as $70,000 is certainly a lot to pay for a new Corvette Stingray, especially with a more powerful Z07 supposedly on the way. But that was nothing compared to the $1.1 million that Rick Hendricks forked over for the very first new Corvette Stingray to roll off the line. The NASCAR race team owner and dealer made the winning bid at a charity auction last January.
Oh, and for anyone whining about waiting for their new ‘Vette to arrive, Hendricks had to wait 10 months.