$100K Markup on 2023 Chevrolet Corvette Z06 Isn’t Surprising, but It Is Sad (UPDATE)
It’s fast, but not fast enough to outrun a six-figure markup, apparently.
UPDATE Nov. 10: Covert Chevrolet's General Manager Mark Gill said the original listing, posted by an employee, was inaccurate and the dealership would sell the car for $35,000 to $50,000 over MSRP, not $100,000. The story below has been updated to reflect that information.
Last week we told you that Chevy would make a few more Corvette Z06s for the 2023 model year, which is great news if you already have a deposit down. It’s even better news if you’re a dealer who has a build slot waiting for production because presumably, that means you’re getting an in-demand supercar that can hold up to a healthy markup.
That’s according to Covert Chevrolet near Round Rock, Texas, which said Wednesday it would sell an Arctic White Z06 for $241,995, including a $100,000 markup. On Thursday, the dealership's General Manager Mark Gill said it would not sell the car for $100,000 but rather between $35,000 and $50,000 over MSRP. The salesperson we talked to Wednesday confirmed the listing, although said the dealership could consider coming down—maybe. “It’s what they’re going for and that seems to be pretty normal for Z06s,” he said. Gill said that salesperson was mistaken and shouldn't have confirmed the listing, but did say the original posting was from a salesperson who wasn't authorized to list the car for $100,000 over MSRP.
Our Peter Holderith drove the Z06 and it's not far-fetched to think that Chevy's world-beater of a Corvette can command serious cash. I'll let him tell it best: "Is this a supercar? Yes, it is. It's also a wholesale defining moment for the enthusiast's car."
The dealer had two build slots, which it said went to reservation holders. The third slot, recently confirmed for production and presumably part of expanded manufacturing capacity in Bowling Green, Kentucky, is the Arctic White Z06 originally listed for $241,955, although Gill said it wouldn't be marked up. GM's President Steve Carlisle warned dealers about marking up cars too much by saying, "GM will be forced to take action if it learns of any unethical sales practices [...] that undermine the integrity that customers expect." This references passages of GM's dealer agreements that forbid practices "harmful to the reputation of Dealer[s], General Motors, or its Products."
In all fairness, it’s not the first $100,000 markup on a Z06 (likely not the last, either) but we’re pouring one out for enthusiast cars that don’t come attached with tens of thousands attached to the bottom line. Breathe in, breathe out. Sigh.
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