Chevy Dealers Auctioning Off C8 Corvette Z06 Allocations Amid Overwhelming Demand
The winning $71k bid went to charity in this case, but those seeking C8 Corvette Z06 allocations can’t be happy about it.
Essentially from the day the C8 Corvette Stingray was revealed, everyone was looking ahead to the more powerful, track-focused Z06. That machine was finally revealed earlier this year, living up to immense hype and then some. However, actually getting one’s hands on a new Z06 is proving to be a difficult and expensive task, with few C8 Corvette Z06 allocations to go around and massive markups lurking around nearly every corner. Now, at least one Chevy dealer is auctioning off C8 Corvette allocations – not even the actual car itself – according to Corvette Forum user ElFingers.
“I got a call from my dealer (Classic Chevrolet Sugarland in Texas) and the news wasn’t good at all,” he said. “They have one allocation in the current cycle that will go for $75k over MSRP. I think they’re hitting up the folks on the waitlist with deposits for the opportunity to purchase at this insane markup. The reasoning I received was it was this is ‘the customer’s fault’ because the flipping going on with the C8 Stingray, and the insane ADM those vehicles have garnered, which has created a bubble that has now manifested itself onto the Z06, and, of course, supply chain issues, material constraints, etc.”
While this news came as a shock to the OP – who has been on the Z06 waiting list for two years now, only to see allocations being sold to the highest bidder while he waits for his own – that isn’t even the end of this wild story. Zerin Dube posted the actual email from Classic Chevrolet on Twitter, which reveals that whoever wins this auction will still have to pay MSRP for the vehicle, along with delivery, title fees, license fees, and “MSRP adjustments” – or, additional markups on top of the premium they’re already paying.
How do you get around selling Z06s for MSRP? Auction off the allocation to the highest bidder then sell the car to them for MSRP. pic.twitter.com/CGdF0lBfeN
— Zerin Dube (@SpeedSportLife) August 21, 2022
It is worth noting that in this case, at least, the auction of C8 Corvette Z06 allocations did benefit some great causes, as Classic Chevrolet wound up donating the $71,000 it raised to a handful of charities including the Houston Area Parkinson Society, Let’s Shine, The Rose Breast Center of Excellence, Champions Kids Camp, Shriners Hospitals for Children, and the Houston Food Bank. Whether or not that was the plan from the start or the result of internet backlash is unclear, but this is far from the last time we’ll likely hear stories like this circulating around.
Photos: Chevrolet
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