Chevy Will Offer $5000 in Incentives to Corvette Z06 Buyers Who Don't Flip Their Cars

Copyright: Andi Hedrick
From the moment the C8 Corvette arrived at Chevy dealerships, the mid-engine sports car began trading hands above MSRP. Dealers jumped in the action with their own premiums, while some owners flipped the sports car when it became clear that production would still be limited for the foreseeable future. Now that GM has announced the base price of the 2023 Corvette Z06 at $106,395, some Corvette fans are bracing for another onslaught of price gouging. A CorvetteBlogger report suggests GM has a plan to combat the flipping craze.
According to the report, shortly after announcing the car's MSRP, Chevrolet emailed prospective Z06 customers. While the early part of the news revolved around the new pricing information, those reading further down the page were treated to an interesting new offering from GM. More specifically, the automaker appears to intend to offer Z06 buyers a $5,000 incentive if they own the sports car for at least 12 months. GM does not plan to cancel some checks on loyal owners, but instead will give away 500,000 My Chevrolet Rewards points to program members who meet ownership requirements. These points can be redeemed for a variety of things in lieu of cash, such as GM Financial lease payments, vehicle accessories, or dealer service appointments.
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While there are certainly plenty of Z06 buyers who intend to keep their cars, the monetary reward of flipping one of these things will no doubt outweigh what GM is putting on the table. It's also worth noting that the automaker says this program is only available for a limited time, suggesting it may be a 2023 model year exclusive. For that reason alone, this program probably won't be very effective in containing markups in the long run.
We'll have to wait and see if this actually helps rid the market of overpriced, hardly ridden Z06s.
Copyright: Andi Hedrick
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