Dave@Ciocca

GM has just announced a price increase on all 2009 Corvettes. This price will effect any Corvette that is not already in dealers stock.

This price increase is $1,520 across the board.

So, below are the new base prices before destination:

Coupe - $48,565
Convertible - $53,220
Z06 - $73,925
ZR1 - $103,970

Dave

Zippy

And the last I heard the DJIA was down over 500 points today.

Not a good thing to help car sales.

Hot Z06

With 7930 Corvettes sitting on the ground (New 07's-09's)
www.jeffhardy.com

And most credit frozen, WTF is this increase going to do for you GM

Hot Z06

OH!!!!!! Now I get it

everyone needs to run down to the dealer and buy the "In Stock" unit's to avoid the increase

Nice Try

Maybe bringing back 0% will help

breakskeet

Yes I agree with you Hot Z06!

It seems that this is not a good move for GM. Shutting down the plant next week and laying off 71 employees because orders are down and now a price increase!?!

This puts the base corvette coupe at approx 50,000 MSRP and fully loaded with 4LT at about 65,000 with destination. WOW! That's big numbers for Corvette fans.

Performin Norman

My thoughts. Exactly.

Twistedpixels

Sorry did the CFO for GM fail Econ 101?

Dan Dlabay

Sounds like more of GM's infinite wisdom. Economy down, cars not selling, solution - raise price.

DRM500RUBYZR-1

I agree that the timing of this could not be worse. At first blush one would wonder why raise the price on something whose sales are already slowing down.
If however you look a little deeper; damn near everything has gone up in price over the last number of months due to across the board price increases. Rising oil prices have affected many component parts, as well as the cost of transporting any type of component or finished product.
Does not matter what it is. Steel has gone up, same with plastics, heck even most foods have seen substantial increases.
There is no way that GM can simply afford to ignore this. They must make money on their product, like all of their suppliers must.
I am certain this scares GM as it would any manufacturer faced with increased costs while sales are sliding downward. If they do not pass on the cost increases, it simply adds up to even more losses.
That is simply unacceptable, and spells a quicker death.
I, like everyone else, would love to see lower prices, and we have in fact on the units in inventory. GM took those hits to move inventory, it was not the dealers that made that happen.
Existing inventory was not subject to those higher costs, but the new builds certainly are affected.
A price increase across the board to offset those increased costs was impossible to avoid.
GM, I bet is the one who is most worried, as they know how this hurts sales, especially in a tightening economy.
The realities of economics cannot be avoided by anyone, unless they have no long term desire to succeed in their business endeavor.
I hope Corvettes and all of GM are still around in the future.

Marty
1FUNZR1

Zippy

Update:

The Dow closed down 777 points!

vette6799

Yeah, for the last 30 years

Z06 Sport

GM stock down 1.25 to 8.51 today, that is down 13%. if you can't buy a ZR1, get some GM stock!!!!!!!!

ZeeOSix

"Lucky 777" ... not when there's a minus sign in front of it.

MyBeaches

Thats just $1,520 more dealers will have to deduct to move the cars.

z06inVB

Good luck with that GM...I think I will pick up my new 09 in 2013 when the discounts are better.

2006c6keller

NO, Econ 001! Will GM ever learn, I doubt it.

ZeeOSix

... GM probably did this to try and get more money instead of the dealers that try to mark up the Vettes - at least in my part of the country. If a dealer is use to getting something over MSRP, then they will just have to make a cut in their profits and let GM have it instead.

MagicMtnDan

It feels good to complain about prices but the truth is the materials are costing GM (and other car companies) more.

If raising the prices helps GM survive good for them. What matters is them making good (great) vehicles and making money. A ZR1 for $104,000 is still the biggest bargain in the history of exotic cars. They should be selling for at least $10-$15,000 more.

I'll take one at sticker, please.

vette6799

You don't raise prices when you are accumulating higher and higher inventory. What you do is make less per car, but at least have a shot at selling some cars. How will raising prices help GM survive if it reduces sales?

Econ 101!

GOLD72

GM increased their prices so they can charge the dealers more so that GM will have more $$$ to use as incentives to customers to buy cars that aren't selling. Go figure!!