Price increases.
- Thread starter jwl300
- Start date
No, I heard our friends at GM Canada were slow this year to load the 2025 Corvette into the autobook system and everything is delayed.
There are hundreds of 2024 Corvettes sitting on dealer lots including over 400 out in Western Canada. GM has already lowered the interest
rate from 7.79 to 5.49% but they are going to have to do more to clear the inventory after the 2024 dramatic price increase which crushed the
market for the car.
Thank you for the update! Wow....400 huh, that is crazy. Does this mean they will not do another big increase for 2025? Fingers crossed.
I have asked contacts at GM about a price decrease and was told they never do that. However in the past rather than do a price decrease they have offered a 0% financing special on Corvette at the end of C7. I believe if GM Canada was wise they would hold off from any price increase now and consider it later on which is usually in January.
From a business prospective doesn’t make sense for GM to keep corvette prices the same for 2025 as the numbers aren’t on par with USD. I could see them increasing the price, but decrease production in Canada and give more to USA or other more attractive and profitable countries that currently have more demand than supply.
They should build less Stingrays for the US and Canada and increase production for the international markets. E-Rays are now arriving in Australia and New Zealand for 275K and 285K local currency. They need to build what models are in demand and that isn't Stingrays any more.
400 cars has to be damn near 20% of the Canadian MY24 builds. Some disguised dealer back dollars would be a win along with 0% financing on or before October. West dealers for the most part are already willing to sell at cost but that doesn’t make up for the jack in pricing (exchange rate adjustment) that was put on us this past year. I don’t expect anything like what GM did with the Camaro in November 2015 coming out with a 20% discount. That put languishing dealer Z/28’s at $87K MSRP ‘s into the $60’s. But given todays cost of capital, consumer & dealer behavior all suggests their will be another shoe or two dropped to assist most of these vehicles in finding new garages before Christmas.
Some of these Canadian 2024 C8’s will continue to be on a “stop sale order” until the affected VIN’s receive replacement seat belt retractors. So even if you make a deal, the dealer will not be able to deliver/release your new Corvette until the recall is closed out. Mr. Corvette may have additional insight regarding the timing on this recall that was announced early June. So buyer beware, make sure you check the VIN on a C8 you are interested in for this recall.
Your advice is correct, if your looking at buying one off the lot have the VIN run first to make sure it's not impacted by the recall. I have had no one from Canada ask me to dig into the stop sale on seat belts up to this point.
Just browsing through Auto Trader. Inventory for all C8 has almost double from 170 ish to over 300 just for Ontario.
Many of the new 2024 are listed $3-4k below msrp. Fwiw.
Many of the new 2024 are listed $3-4k below msrp. Fwiw.
That is just crazy. Unimaginable a few years ago. BE WISE GM. Do not increase 2025's price too much!
A wise General would come out after the Labour Day weekend with financing capital somewhere between 0% & 1.99% given the Fed & BOC are in rate cutting mode. Plus, add in some dollars for the dealers so they would be motivated to sell the C8 over hang out there. That is if the Canadian dealers & market matter to them. I still expect something to help the situation will happen, fingers crossed its good. I will buy another if a good offer comes to pass.
I think inventory will continue to climb especially if the US demand for the SR slow down.
A low miles used maybe the best bargain especially when you factoring in the Luxury Tax for a brand new one.
A low miles used maybe the best bargain especially when you factoring in the Luxury Tax for a brand new one.
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The problem with low mile 22 or 23’s is that the private vendors STILL haven’t accepted the new market reality otherwise I agree. Especially if no further manufacturer incentives are offered that would be a great way to go. I offered $95 on a $106 MSRP (low option 2LT) that is marked down to $103 (big deal) and I knew they had a cost of $97.5. I was told my offer would only be considered seriously if there was GM dollars back to the dealer versus taking a loss. So I wait.
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