Yahoo Autos Chevy Will Offer $5000 in Incentives to Corvette Z06 Buyers Who Don't Flip Their Cars
From the moment the C8 Corvette arrived at Chevy dealerships, the mid-engine sports car began to trade hands at above MSRP. Dealers got in on the action with markups of their own, while some owners took to flipping the sports car once it became clear production would still be constrained for the foreseeable future. Now that GM has announced the 2023 Corvette Z06’s base price of $106,395, some Corvette fans are already bracing themselves for another onslaught of price gouging. A report from CorvetteBlogger suggests GM has a plan to combat the flipping madness.
According to the report, Chevrolet sent an email out to prospective Z06 customers shortly after announcing the car’s MSRP. While the early part of the message was centered around the new pricing information, those who read further down the page were treated to an interesting new offer from GM. More specifically, it appears the automaker intends to award Z06 buyers $5000 worth of incentives if they retain ownership of the sports car for at least 12 months. GM isn’t planning on cutting loyal owners some checks, but rather it will dole out 500,000 My Chevrolet Rewards points to program members who meet the ownership requirement. These points can be redeemed in place of cash for a number of different things, such as lease payments through GM Financial, vehicle accessories, or dealer service appointments.
While there are certainly a ton of Z06 buyers who intend on keeping their cars, the financial reward for flipping one of these things will undoubtedly outweigh what GM is putting on the table. It is also worth noting that the automaker states this program is only available for a limited time, suggesting it may be a 2023 model year exclusive. For that reason alone, this program likely won’t be very effective at curbing markups in the long run.
We'll have to wait and see if this actually helps clear the market of overpriced, barely driven Z06s.
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