2023 Chevrolet Corvette prices rise by $15,000 in Australia, wait times stretch to two years and beyond

The 2023 Chevrolet Corvette has been hit with a massive $15,000 price increase in Australia as the US continues to restrict the number of cars heading our way.

US car giant General Motors has been accused of price gouging from Australian customers after it raised the recommended retail price of the iconic Chevrolet Corvette sports car by $15,000 across the range, as the company continues to severely restrict local supply.

The 2023 Chevrolet Corvette will be hit with a massive $15,000 price increase in Australia from the end of this year, compared to recent price increases of $1,000 to $1,500 in the United States.

The price hike from the General Motors factory in the United States follows exorbitant delivery charges for dealers in Australia of up to $25,000 on the first batch of vehicles.

While most Chevrolet Corvette dealerships in Australia charged between $5,000 and $10,000 for dealership delivery to boost their bottom line on the limited number of sports cars assigned to them, some dealerships charged customers VIP their normal delivery charges under $2,000.

Industry insiders say higher RRPs – and excessive delivery charges for dealers – would “evaporate overnight” if General Motors increases the number of Chevrolet Corvettes sent to Australia from the United States.

However, after receiving their latest price list today, some Chevrolet Corvette dealers in Australia accused General Motors of taking money after seeing the final prices paid for the first batch of cars sold in Australia during of the last year.

“GM saw the invoice prices that customers were willing to pay in Australia and decided to use more of that,” a dealership said on condition of anonymity.

General Motors Specialty Vehicles (GMSV) – the local division of US car giant General Motors – remains powerless to prevent dealers from charging excessive delivery fees.

It appears that GMSV has increased the Chevrolet Corvette‘s RRP to carve out a larger share of each vehicle’s profit.

However, GMSV told dealers the price increases were caused by ‘supply chain’ restrictions and ‘economic price increases’, such as exchange rate fluctuations in the value of Australian and US dollars. .

Each of the 55 GMSV dealerships in Australia has been allocated just four Chevrolet Corvettes over the past 18 months.

The latest award delivers just two Chevrolet Corvettes to each dealership starting late this year and early next year.

Conduct has been advised that some dealerships are holding over 50 customer orders for the Chevrolet Corvette in Australia, pushing local wait times well over two years at current right-hand drive production rates.

However, a GMSV spokesperson said the company expects Australian vehicle allocations to increase with subsequent batches.

Industry experts say there’s little customers can do but “shop around” if they’re unhappy with the starting price they’ve been offered for a new car. But the limited supply of vehicles limits the bargaining power of buyers.

For the 2023 Chevrolet Corvette, a popular option – the “Engine Appreciation Pack” which includes engine bay lighting and carbon fiber accents – will not be available to Australian customers.

Customers who have already ordered a car with this option will receive a $1,500 gift card in lieu of the missing equipment. Paid options such as the Z51 performance pack and front suspension lift remain available.

GMSV promises more personal preference options on future vehicles while offering “smaller and more frequent dealer allocations.”

“This means there will be greater visibility into the production schedule as well as the ability for customers to customize elements of their vehicle,” a statement from GMSV said.

GMSV says 2023 Chevrolet Corvette Editions will be available with three new wheel options, black exhaust tips – and the option of new blackout interior trim or “Adrenaline Red” interior trim.

According to GMSV, customers will also have the option to select exterior paint color, decals, brake caliper color, exhaust tip options, seat belt color, as well as the interior trim color.

The first copies of the 2023 Chevrolet Corvette are expected to ship to Australia in the last three months of this year.

GMSV has informed dealers that there will be an update on Australian allocations for the high performance Chevrolet Corvette Z06 model in the second half of this year.

Model Old price New price
Corvette 2LT Coupe $144,990 $160,000
Corvette 2LT Convertible $159,990 $175,000
Corvette 3LT Coupe $160,500 $175,000
Corvette 3LT Convertible $175,500 $190,000
The above prices exclude dealer registration, stamp and delivery costs.

Joshua Dowling has been a motoring journalist for over 20 years, spending most of his time working for the Sydney Morning Herald (as motoring editor and an early member of the Drive team) and News Corp Australia. He joined CarAdvice/Drive in late 2018 and was a World Car of the Year judge for 10 years.

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