Dealers Are Guarding 2020 Chevrolet Corvettes With Markups as High as $25,000
May I interest you in a six-figure Stingray?
With 2020 Chevrolet Corvette order banks closed as of Wednesday, anyone who wants a groundbreaking, mid-engined domestic should be ready to pay well over MSRP for a first-year example. While a two- or three-grand markup is too be expected—gotta make money somehow, right?—there's a handful of dealers pushing their limits, several of which are asking six figures for cars that are plainly worth far less.
A quick perusal of Autotrader for 2020 Corvette listings shows that dealers who promised not to gouge the prices of new models make up a surprising majority of those with C8s in stock. However, there remains a small group with no qualms about asking extra money for the now limited-availability 'Vette. We've listed some of the sports car's most egregious scalpers below.
- $25,000 markup: Ken Garff Chevrolet of American Fork, Utah. MSRP $84,455, asking price $109,455.
- $20,000 markup: Mid-State Chevrolet & Buick of Sutton, West Virginia. MSRP $78,020, asking price $98,020.
- $18,103 markup: New Smyrna Beach Chevrolet in Florida. MSRP $90,515, asking price $108,618.
- $10,000 markups on three cars: Victorville Chevrolet in California.
- $10,000 markup: Beaver Chevrolet in Jacksonville, Florida. MSRP $94,525, asking price $104,525.
As businesses that live and die on high margins or sales volumes, it's not hard to understand why dealers are willing to hike prices on high-demand, low-supply models such as first-year Corvettes. But with responses to the COVID-19 outbreak becoming increasingly strict, keeping Americans in their homes and off the roads, dealerships are on track to become ghost towns, so it may not be the right time to squeeze extra cash from customers. After all, many Americans would at this point gladly trade the heated seats in the cars they barely drive for an eight-month supply of beans, rice, and beef jerky.
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