Chevrolet has just confirmed that the entire inventory reserved for pre-orders has completely sold out. If the manufacturer is to be believed, they need to first deliver on close to 40,000 units pre-ordered by customers before the first one could be delivered to a showroom. Michael Simcoe, GM design chief, confirmed that the C8 has already hit the pre-order numbers fit for an annual production run. It makes us wonder if we would even get to see a C8 Corvette Stingray near us for sale in 2020.
The C8 is the latest generation of a long line of production Corvettes manufactured by Chevrolet. The Corvette has been in production since the late 1950s. Recently, with the radical new version unveiled at the Frankfurt Motor Show, the Corvette has taken everyone by surprise. Although only the base Stingray trim has been revealed, it is already setting a prospect as to how the rest of the trims would be like.
What’s so rattling about the ‘Vette?
The C8 Stingray is the first of the latest generation of Corvettes that will see production henceforth. Chevrolet has gone through a complete redesign for this performance car. For the first time, the engine sits in the middle of the car, giving a more balanced proportion to the car’s overall weight. The new LT2 powertrain has improved as well. The Stingray is rated to produce 495 hp and 470 lb-ft of torque from its 6.2L V8 engine. The figures may be sketchy at best since a recent dyno test proved that the rear wheels were getting close to 450 horsepower.
Most of the interior features carry over from the C7. That is not necessarily a bad thing. When you are sitting in a car capable of going more than 190 mph, you really don’t expect a lot of luxury. But the Corvette Stingray delivers with power-adjustable heated and ventilated seats and Chevrolet Infotainment 3 Plus system as standard. You also get leather upholstery, ambient lighting, aluminum foot pedals, 4G LTE Wi-Fi hotspot, and a Bose Performance 12-speaker surround sound system.
OK, that’s it. We’re out of Pre-Orders
After the reveal, the C8 Corvette Stingray was available for pre-orders through Chevrolet’s official website. When you offer an all-in-one package starting as low as $59,995 for a supercar, it is obvious that more and more people would want their slice of the pie. The first of the C8 Corvettes were supposed to hit the showrooms in December. However, due to the massive surge of pre-orders, a delay pushed it further till February of 2020. Chevrolet offered close to 40,000 slots for customers to pre-order their C8 Corvette in a configuration best suited for them. More than 30,000 of them were booked before December.
The C8 Corvette Stingray is available in both coupe and convertible body styles. Other than a handful of show cars, there are not really many C8 Stingrays available for public eyes. With so many pre-orders to fill, Chevrolet may even hold back review models to be delivered for media outlets. All things considered, Chevrolet has delivered very well with designing the latest generation of their high-performance sports coupe. Now the pressure is on them to get the demands met.
Bit off more than Chevy could chew?
A recent report from a GM sales executive confirmed that the C8 Corvette was booked at a starting MSRP much lower than its actual production cost. The official made it clear that Chevrolet may lose money on all C8 Stingrays that would be sold for less than $80,000. Making the MSRP based at $59,995 was a decision to attract more customers, but it seems that the technique worked a little too well for the Corvette. Even though optional packages might help make at least some profits from the ‘Vette, the average cost would make Chevrolet lose big money on all those who have placed pre-orders for the C8 Stingrays.
As of now, the waiting period for those looking to buy the C8 Corvette directly from showrooms is around 6-7 months. Chevrolet has a peak C8 production rate of 38,000 units. Considering the time till the first C8 Corvettes hit the streets, it gives another 9 months to Chevrolet just to complete the pre-orders. This means that the time duration from when you order your C8 Corvette from your friendly neighborhood Chevy executive to the time you receive it may most likely be extended. What’s more? If you weren’t one of the lucky ones who jumped on the pre-order wagon, expect to pay a bit extra at the time of delivery.