Official Canadian Pricing-it's out!

Mr.Corvette

Mr.Corvette

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Hi Everyone, bad news on Canadian Pricing. When the US went up $1500-$2800, GM Canada decided to increase pricing massively $11,986 on Stingray coupes and $18,101 on the Z06. E-Ray pricing has been increased $10,031 since it was announced in January. US pricing went up $1395 + $200 for freight by comparison.
Here's what I have so far for base prices without $2300 freight which is up $5:
Stingray coupe $87,699
E-Ray coupe $138,799 2LZ $146,299 3LZ $153,799 ZER Package $575
Z06 Coupe $146,299
Stingray HTC $96,699
E-Ray HTC $147,799
Z06 HTC $155,299
 
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Mr.Corvette said:
Hi Everyone, bad news on Canadian Pricing. When the US went up $1500-$2800, GM Canada decided to increase pricing massively $11,986 Stingray coupes and $18,101 on the Z06.
Here's what I have so far for base prices without $2300 freight:
Stingray coupe $87,699
E-Ray coupe $138,799 2LZ $146,299 3LZ $153,799 ZER Package $575
Z06 Coupe $146,299
Stingray HTC $96,600
E-Ray HTC $147,799
Z06 HTC $155,299
Click to expand...
So GM Canada is no longer subsidizing the Corvette. That's pretty much the U.S. base * 1.35 without shipping.?
Hmmm 66,300 * 1.35 = 85,050
 
Terrible news. First the initial 2023 Z06 pricing comes out, more than expected, based upon comments made by the GM C8 engineers 👎, then Canada gets 50% or less of its usual C8 allocations👎, preventing people like me from getting a (now) "lower priced" 2023 Z06👎, then after waiting all this time (almost 3 years so far)👎, I get the "privilege" of paying what will likely be $20,000+ more (once freight and PDI are factored in) to more likely $25,000+ more (once accessories are included, which accessories will no doubt see increases as well) 👎and THEN, add on the federal luxury tax for a vehicle over $100,000.00, which will now tack onto whatever the increase is. For Canadians, a 2024 Z06 nicely optioned out, will likely be around $250,000.00 all in and that's for someone like me in Alberta who pays the lowest provincial sales tax in the country, at 5%. It'll be worse for buyers in other provinces, who must pay 10% or more for provincial sales tax, and (heaven forbid) an additional provincial luxury car tax for buyers in BC. Imagine what a BC buyer will now have to pay.

Let's look at the actual numbers.

I'd priced out the Z06 I wanted at $197,084 + taxes (including freight and PDI), using 2023 Canadian pricing. That works out to $217,132 including all taxes for an Albertan, using 2023 Z06 pricing. That's by not purchasing all accessories I can easily tack on later, to avoid the luxury tax. So I'd have about $220,000 into the car once the other accessories have been tacked on later...and that's before paying for PPF and ceramic coating (likely about $230,000? in total, into the car, with PPF and ceramic).

Now add another $25,000 plus associated taxes (making it another $28,875 more) and you get $246,007 or about $260,000 all in (with all accessories and PPF/ceramic). How to you spell "D-I-V-O-R-C-E"? Bad enough to convince a spouse w/o the additional $30,000+. Not funny. Not welcomed. Not expected. It may result in a change of plans. The Lotus Emira with its standard transmission, is suddenly looking all the more interesting. Yes I know it's a completely different vehicle compared to the Z06, however aside from its more desirable sports car stick, lower gas cost and better looks, and a much more "rare" unique look compared to the ever-increasing numbers of C8's on the road, its price (even after an increase) makes it all the more affordable and more easily justified to an angry spouse who fails to see the attraction of any sports car...

Well done GM. Oh and make sure us Canadians will be blacklisted if we deign to sell a C8 Z06 into the States within our first year of ownership (compared to the double-standard of 6 months for US owners looking to sell with a warranty), even with these Canadian higher prices, which make it less likely anyone will want to do that except Canadian dealers and their friends who'll get a discount on their 2024 Z06's...but they won't have to worry since any repercussions against dealerships by GM appear to be totally non-existent despite the highly publicized (at the time) January 2022 letter from GM's North American president Steve Carlisle...

All this should be appropriately described as: "GM throws open the door and greedily welcomes buyers of exotic high-end cars, thumbing its nose at their traditional Canadian Corvette base, with the new and increased 2024 C8 Z06 pricing in particular."

Good move GM and thanks (NOT)! 👎 👎 👎 👎 👎 (of a possible 5 thumb rating)
 
CamsC8 said:
No way!

This is a massive disappointment and quite timely actually as I'm literally going to be one of the first to order an E-Ray. OR will I...

Geeeeeezus. The Lux Tax plus this increase are almost deal breakers.
Click to expand...
Cam, on the E-Ray Ontario buyers are looking at an extra $13,602 on the base price with luxury tax and HST on both unfortunately. GM was using a 25.17% exchange rate on the car prices but decided to up it to 35% to keep the cars coming here, or GM corporate could ship our cars elsewhere in the world and make a lot more profit. I'm just happy I don't have to pay $15,000 freight to Australia or a base price that starts at $175K like they have to deal with.
 
netsinah said:
Terrible news. First the initial 2023 Z06 pricing comes out, more than expected, based upon comments made by the GM C8 engineers 👎, then Canada gets 50% or less of its usual C8 allocations👎, preventing people like me from getting a (now) "lower priced" 2023 Z06👎, then after waiting all this time (almost 3 years so far)👎, I get the "privilege" of paying what will likely be $20,000+ more (once freight and PDI are factored in) to more likely $25,000+ more (once accessories are included, which accessories will no doubt see increases as well) 👎and THEN, add on the federal luxury tax for a vehicle over $100,000.00, which will now tack onto whatever the increase is. For Canadians, a 2024 Z06 nicely optioned out, will likely be around $250,000.00 all in and that's for someone like me in Alberta who pays the lowest provincial sales tax in the country, at 5%. It'll be worse for buyers in other provinces, who must pay 10% or more for provincial sales tax, and (heaven forbid) an additional provincial luxury car tax for buyers in BC. Imagine what a BC buyer will now have to pay.

Let's look at the actual numbers.

I'd priced out the Z06 I wanted at $197,084 + taxes (including freight and PDI), using 2023 Canadian pricing. That works out to $217,132 including all taxes for an Albertan, using 2023 Z06 pricing. That's by not purchasing all accessories I can easily tack on later, to avoid the luxury tax. So I'd have about $220,000 into the car once the other accessories have been tacked on later...and that's before paying for PPF and ceramic coating (likely about $230,000? in total, into the car, with PPF and ceramic).

Now add another $25,000 plus associated taxes (making it another $28,875 more) and you get $246,007 or about $260,000 all in (with all accessories and PPF/ceramic). How to you spell "D-I-V-O-R-C-E"? Bad enough to convince a spouse w/o the additional $30,000+. Not funny. Not welcomed. Not expected. It may result in a change of plans. The Lotus Emira with its standard transmission, is suddenly looking all the more interesting. Yes I know it's a completely different vehicle compared to the Z06, however aside from its more desirable sports car stick, lower gas cost and better looks, and a much more "rare" unique look compared to the ever-increasing numbers of C8's on the road, its price (even after an increase) makes it all the more affordable and more easily justified to an angry spouse who fails to see the attraction of any sports car...

Well done GM. Oh and make sure us Canadians will be blacklisted if we deign to sell a C8 Z06 into the States within our first year of ownership (compared to the double-standard of 6 months for US owners looking to sell with a warranty), even with these Canadian higher prices, which make it less likely anyone will want to do that except Canadian dealers and their friends who'll get a discount on their 2024 Z06's...but they won't have to worry since any repercussions against dealerships by GM appear to be totally non-existent despite the highly publicized (at the time) January 2022 letter from GM's North American president Steve Carlisle...

All this should be appropriately described as: "GM throws open the door and greedily welcomes buyers of exotic high-end cars, thumbing its nose at their traditional Canadian Corvette base, with the new and increased 2024 C8 Z06 pricing in particular."

Good move GM and thanks (NOT)! 👎 👎 👎 👎 👎 (of a possible 5 thumb rating)
Click to expand...
I wonder how much of this decision was determined by current policies in Ottawa? They're ramping up the killing all sorts of subsidies for anything to do with fossil fuels, and a "high end, gas guzzling, sports car" might have caused someone to contact GM corporate, and suggest they stop the give aways. Or, GM Canada may have decided to be "good corporate citizens" and just did it for brownie points/future political capital. It also increases Ottawa's revenue on Corvettes from taxes by quite a bit, not just the luxury tax, but HST and anything else they can squeeeze out of us.
I may have to "tap" on this project, unless there's some fine print in the contracct I signed, that mitigates the pricing increases, but I don't think so. It's a heckuva car at last year's prices.
 
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CamsC8 said:
No way!

This is a massive disappointment and quite timely actually as I'm literally going to be one of the first to order an E-Ray. OR will I...

Geeeeeezus. The Lux Tax plus this increase are almost deal breakers.
Click to expand...
I feel the same way Cam. I was hoping to get an allocation for an E-Ray but based on the new numbers I think I will be priced out. Guess I’ll put some of that money into my 2020.
 
Mr.Corvette said:
Cam, on the E-Ray Ontario buyers are looking at an extra $13,602 on the base price with luxury tax and HST on both unfortunately. GM was using a 25.17% exchange rate on the car prices but decided to up it to 35% to keep the cars coming here, or GM corporate could ship our cars elsewhere in the world and make a lot more profit. I'm just happy I don't have to pay $15,000 freight to Australia or a base price that starts at $175K like they have to deal with.
Click to expand...

As set out above: "GM...decided to up it to 35% to keep the cars coming here, or GM corporate could ship our cars elsewhere in the world...".

Yes paint me (now) a bitter cynic but keep in mind I'm someone who's driving his second C8 and the only Canadian who took precious vacation time from a busy job and unhappy spouse, to fly to the 2022 Corvette "Bash" in Bowling Green Kentucky all the way from Western Canada to see and learn about the C8 Z06 at the end of April last year...so I was ++ invested and definitely drank the Kool-Aid.

However I ++++++ doubt GM will give up on its marketing goal of "world-wide sports car domination" and return Canada's allocations or even keep them the same merely by making a price increase, as opposed to continuing to market them to Japan, Australia and (moreso the "home" of Porsche, a HUGE target) Europe. GM's plans to cut Canada's allocations and enter these other markets, were made years ago and included producing the right-hand drive Corvette to better capture interest in those other markets by convincing their buyers that GM is committed to them. GM will not reduce the percentage of US allocations (its loyal Corvette "home crowd" second only to what used to be its "loyal" Canadian crowd) since it won't risk incurring the wrath of that market, so as usual, that leaves Canada as the "who gives a s**t" target for the already reduced allocations and (now) massive price increases and I fully expect, more reduced allocations as GM looks to capture even more of the overseas market share. No doubt GM is selling another story to its Canadian dealerships to try and explain/placate the Canadian market as much as possible (how to you spell PR "d-a-m-a-g-e-c-o-n-t-r-o-l"?), however as always, actions speak louder than words and with the "General" steering its ship towards these overseas markets in its never-ending thirst for better shareholder profit, it won't slow down or change the direction of that ship. And why not in the meantime, squeeze whatever price increases and profit it can out of the lowly Canadian market, while the demand and hype is there for the Z06 and E-Ray (especially)...

My 2 cents, as usual, but the more I consider the history and what's now happening in Canada, the more I think of giving up on the Z06, much to the joy of my spouse who (some might say surprisingly) I value far more than any vehicle.
 
DenisC8 said:
wow I am still processing this news
Click to expand...
Me too Denis but the more I think about it, the more I lean towards cancelling my (much waited for and now fairly recent) #1 spot on my dealer's C8 Z06 list...what an unexpected disappointment!!! Or should I say yet another unexpected disappointment in a continuing series of many such GM C8 "made for Canada" disappointments.

The other option (of course) is to let some other "sucker" pay all the new vehicle taxes, wait for the market/hype to cool down and then in a few years, look to buy a low mileage Z06 IF I'm still interested in the car at that point...or more likely look at something even better which is bound to come out by then, and likely by another vehicle manufacturer that treats Canadians better or at least doesn't favour one country (USA) over Canada so much...
 
Holy frig. I just got a allocation, was waiting to hear on the constraints on Thursday. But now I may pass and just keep my current c8. That price increase is ridiculous if that's true.
 
Truly a severe blow to those of you looking to purchase a 2024 Vette regardless of the model.
I expect this price increase has been fuelled by two factors;
1) the price they get shipping to foreign markets
2) the fact that Canadian used buyers have been willing to pay 30% plus over MSRP, I know our
local used lot has sold over 80 used C8s for an average of 30% above MSRP.
GM has obviously been paying attention to the used market.
 
It's simple, really. GM is a business. GM will set prices, and decide on sales locations such as to maximize profits. They may have initially been unsure as to how the C8 would sell in Canada and started off with the discounted pricing. Demand is now high enough in Canada that GM can now charge prices roughly equal to US ($conversion taken into account) prices and not lose any sales because of that.
 
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