C8 Average Selling Price Surpasses $106K, 4th Qtr 2023

General Motors made a huge bet when they decided to transition the Corvette from its traditional front engine configuration to the now current mid-engine body style, and with the demise of the Camaro, it's currently the only performance car offering in the line-up.

That point was recently driven home following a new report from Cox Automotive regarding GM's Q4 2023 U.S. Market Performance. GM's average transaction price during the 4th quarter 2023 was $53,310 but the C8 Corvette's ATP was nearly double with an average transaction price of $106,032! That's an increase of 20.9% over the year previously. That's despite the fact that Corvette sales actually fell 2.4% during the same time. period.

The big jump in the Average Transaction Price over the year for the Corvette is directly the result of the 2024 Corvette Z06. Chevy's latest track weapon first debuted in fourth quarter 2022, but the model was still in its production ramp-up phase by the time the quarter ended. For the 4th quarter of 2023, there were approximately 2,738 new Z06s produced which helped to skew the numbers upwards.

The Corvette Z06 now has a starting price of $112,700 and we found that during the launch year, the cars were overwhelmingly loaded with features as a majority buyers added the 3LZ trim package. Other high-priced options that helped push the ATP higher included the Z07 Performance Package, Visible Carbon Fiber Wheels, and Brembo's Carbon Ceramic Brakes.

Cox Automotive listed the Average Transaction Prices (ATP) for all Chevy models, and second to the Corvette is the Suburban SUV at $76,275. Rounding out the Top 3 was the Tahoe at $72,635. In addition to the Corvette, two other Chevy models showed double-digit ATP growth during the 4th quarter. The Chevrolet Express van has an ATP of $54,440 with its year-over-year change being 18.3%. The Chevrolet Colorado has a $42,773 ATP and that model posted a 13.8% increase over 2022.

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Source: Keith Cornett - CorvetterBlogger.com

Posted 3/15/24