Photo Credit: Keith Cornett
Changing to a mid-engine format for the C8 Corvette was supposedly a gamble for General Motors. And yet that gamble turned out to be a success as the Corvette Stingray is still one of the most sought-after new vehicles on the market even as we are into its fourth model year. On top of that demand, we have the new 2023 Z06 ready to begin production next month, with dealers submitting preliminary orders since July 27th.
When Chevy sent dealers the Consensus Memo last Thursday that showed 55,573 Corvette Orders “In-System,” we were not surprised when many didn’t even question that number.
But we did.
We remember at the end of the 2020 model year, Chevy had too many “accepted orders” in the system that it had to offer price protection to those customers for the 2021 model year. That result also led to Chevrolet changing allocations given to dealers once per month instead of quarterly as it was done for the 2020 model year.
Another factor that we took into consideration is that Chevrolet has also been unable to reach full production capacity at the Corvette Assembly Plant due to supply chain issues. With two shifts running 100%, the plant could build nearly 40,000 cars in a calendar year. For the 2022 model year, Chevrolet could only manage to build 25,831 Corvettes despite the unprecedented demand. The year before was only slightly better at 26,216 Corvettes built. So it didn’t seem plausible that 55,573 Corvette orders had been accepted for production.
After seeing an article on a prominent automotive site that claimed those 55,573 orders in-system were between 2500 to 3799 status, we reached out to Chevrolet and received the following reply.
The number was a typo. The number that should have been shown during consensus was 5,573 orders in the system. An extra 5 was added at some point, making that number seem bigger than intended.
As the unofficial typo king, I feel for whoever got that number wrong, and we appreciate Chevrolet working with us to correct that record. Customers waiting for their allocation to come up were surely dejected if they bought into the incorrect story that 55K orders were waiting to be processed, a backlog that would take two years to clear. With the correct number being 5,573 orders, that’s a backlog of just over seven weeks for the 2023 model year’s current production average of 153 cars per day.
We’ve asked Chevy a follow-up question about those 5,573 In-System orders and if they include any Z06s, as we also learned last week that some Z06 buyers have reported a September 19th target production week for their cars. We’ll keep you updated as we learn more.
Still No Z06 Allocations Yet but the First Constraints Have Been Announced
Select Corvette Z06 Buyers Have Already Moved to Status 3000 and Have a September 19th TPWs
The Price of the 2023 Corvette Z06 Just Went Up an Additional $2600 to $3000 for the Gas Guzzler Tax