Is $5,000 in rewards enough to keep customers from doing it?
Chevrolet appears to have devised an innovative solution to keep Corvette Z06 buyers from immediately flipping their vehicles for a hefty profit.
According to Corvette Blogger, Chevy sent an e-mail to its Z06 customer list. It revealed the confirmed list price and a mention of a new reward scheme for owners who keep their vehicle for 12 months after the purchase.
"For a limited time, My Chevrolet Rewards members can earn an additional 500,000 points - a $5,000 value - when they retain ownership of their vehicle for 12 months after purchase. Points can be redeemed on GM Financial Payments, Accessories, and more," said the e-mail.
If you hold on to your Z06 for 12 months, you can spend $5,000 on accessories, parts, or servicing at any My GM Rewards participating dealership.
While this is a unique approach to stop customers from flipping cars, we have our doubts as to whether it will work. The Z06 is one of the most highly-anticipated supercars ever, and Chevrolet does not have the capacity to satisfy demand. This will inevitably lead to insane markups, which some customers will be happy to pay in order to be one of the first to get a car.
It's a pity, considering the Corvette's heritage. We love the fact that Bowling Green can build a world-beating supercar for half the price of a 911. Even with the recent price increase, the Corvette remains a relative bargain.
But over the past two years, we've seen some insane markups. The standard Corvette started selling for Porsche 911 Turbo money at the end of 2021.
Thanks to the promises made by the Z06's flat-plane V8, the 670 horsepower model started demanding a $100,000 markup before the official list price was even made public. Not to mention the $5,000 folks had to pay to get their names on the list.
The allure of making a quick buck will be too much for a few owners who were lucky enough to get on the list. Why hold on to a car for 12 months to get a $5,000 reward if someone else is willing to put at least $50,000 in your pocket right now?