Chevrolet Limits Warranties, Offering $5000 Reward
With 2023 Z06 Corvettes continuing to make their way to the streets, Chevrolet & GM are cracking down on those who are only in it to resell their new high demand vehicles. In an effort to deter C8 owners from flipping the new Z06 Chevrolet is offering a $5000 incentive to all who retain ownership of the vehicle for more than one year in addition to a 12 month warranty transferability restriction and indefinite ban from preordering of future GM vehicles.
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.
These moves certainly are drastic, and are designed to be exactly that. Chevrolet's primary concern is having vehicles resold at inflated prices by unauthorized individuals, a practice that often results in a purchasing experience that does not meet GM's quality standards. While there will always be those who slip through the deterrent's cracks, Chevrolet & GM are confident this move will be effective in policing issues that have plagued previous model releases, ensuring the best experience for their customers.
It's safe to say Chevrolet isn't messing around. When dealing with a lifestyle brand such as Corvette, it's important that the long time, loyal customers are taken care of and given the best ownership experience possible, not to mention lowered prices. It's clear Chevrolet wants to treat their customers right.
We want to know what you think! Does the incentive program excite you? Let us know your thoughts in the comments below!
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14 comments
About time. Those wanted a new Corvette have to first get in a wait list then wait almost a year to place the order only to then wait for it to be built all the while others have them quickly and are ripping us regular folks off buy over pricing and getting away with it! This policy should have been implemented back in 2020!
IF THEY WANTED TO KEEP LOYAL CUSTOMER THEY WOULDNT LET THEIR DEALERS SELL ANY CORVETTES FOR OVER MSRP PERIOD !!!
Great idea.
I think the battle they can’t win is the age of corvette owners and they selling their vets. I recently bought my first vet, a 2002 C-5 Race of Champions edition and joined a corvette club of about 300 members. Many have newer or the newest vets or have them on order and are waiting for delivery but almost all are over 45 years of age and most are well over the age of 60. I don’t see the younger generations being able to afford a vet nor their interest in buying one like I do with baby boomers. That younger market is the one you need to now capture in the future I think with maybe a cheaper, lower cost model that will compete with other, cheaper sports cars from other manufacturers like Honda, Nissan, Subaru, and Kia. Those older like in my vet club will keep their cars as long as they can but they are dying at a faster rate than new, younger vet oweners are materializing I think.