I'm sure a lot of guys will step back and re-evaluate, but at the end of the day, there will not be a mass exodus IMO.
I keep hearing about a $12,000.00 increase, but what dollar amount would be acceptable?
How much of the increase is normal inflation?
How much is due to the ongoing supply chain issues of Covid?
How much is for the extra few safety features in the '24?
How much is due to the value of our dollar as compared to the US?
Is a '24 not supposed to be intrinsically worth more than a '23? If 2 identical cars were lined up at the same price, I'm pretty sure the audience would choose the newer model.
The list goes on, and on, and that's before we even touch upon the whole subsidizing Canadian cars (wait, what?), or responsibility to one's shareholders.
Historically (in all the past C8 years) the price increases have been modest ($1,000 to $2,000 each year). And that's through the COVID years with their supply chain problems/delays (so nothing new there). The changes for the 2024 model are minimal and not IMO costly at all. If they were, the US price increase would have reflected that, but they had their usual modest price increases. And yes, new vehicles are usually viewed as more attractive, for the lesser depreciation rate if nothing else, but that's not resulted in more than modest price increases each year (again, that's nothing new). The Canadian/US exchange rate has been lousy for years for us in Canada, so that's nothing new either, and it can change depending on a ton of variables. And if we focus on the US/Canada exchange rationale, should we expect ALL Canadian prices to increase to match the US exchange rate...which is illogical and assumes we should be treated like the US (ie. we're the identical market to the US). So as Canadians should we face a 35% price increase on everything across the board for our food, clothing, housing, etc.? GM makes a profit on all sales, even the past Canadian sales. It's not in business to lose money so set their past Canadian pricing accordingly. Similarly, GM set its pricing differently for Australia, Japan and Europe, based upon those different markets. The point being, this isn't "one market" (ie. the same vehicle prices
don't apply to all of planet earth) and like other countries or geographic locations, Canada is a different market place and until 2024, saw a different pricing structure.
All that said, this is NOT a normal or expected 2024 price increase for the Canadian market. Trying to paint it otherwise is just wrong. Canada has been targeted and IMO we've been singled out and not treated fairly. A choice was made to lump in a single huge increase, all in one year and only for Canada. And it's a $12,000 increase for the 2024 Stingray; the Z06 and E-Ray CANADIAN (only) price increases were a lot more, so for people like me waiting years for a Z06, it's even more painful, compounded by the luxury tax we now all face in Canada. I empathize with all wanna-be Canadian C8 Stingray and E-Ray buyers, as well.
Whether you choose to stay in or cancel your deal, depends upon your personal finances and priorities. Those that aren't wealthy, were just able to afford a new C8 using past pricing models, and can't justify the extra funding, will cancel or at best, sacrifice their dreams of a "perfect vehicle with all the bells and whistles" and settle for less options/accessories and order a lesser/compromised vehicle. GM has made a choice to cut off its Canadian market, firstly by cutting Canadian allocations by 50% or more and giving those same allocations to overseas markets (not cutting back on the US allocations), then secondly and more recently by making the C8 line less affordable in Canada. Sad, disappointing, frustrating and unexpected days for Canadian C8 fans looking to buy a C8.
PS to Murray: I did notice one accessory increase: the rims with red stripes increased $400 in 2024, compared to 2023. I'm not sure if there are other increased option/accessory prices for Canada.
