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2024-08-01 12:00:00 +0300

Kelley Blue Book: People are flipping Corvettes for profit and Chevy wants to pay them to stop

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MarketWatch
By Sean Tucker

Chevrolet will pay you up to $5,000 to keep your2023 CorvetteZ06 rather than flip it for a quick profit.

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The incentive comes not as cash but as 500,000 points through its My Chevrolet Rewards program. But the points a $5,000 value can be used to make payments on the car.

The news came recently in an email to people who have expressed interest in the Z06. The headline on the email was the price the Z06 will carry a sticker price of $105,000 plus a $1,395 delivery fee.

But alongside the list price came a note that buyers will receive the 500,000 points when they retain ownership of their vehicle for 12 months after purchase.

The move comes a year afterGM GM, +1.45% warned dealerships they risked losing the right to sell Corvettes if they applied hefty markups to them.

Also on MarketWatch: It will be mostly a white-collar recession: Milken economist William Lee on how the next economic downturn will be different

The Corvette remains one of the most in-demand vehicles in America, with most selling through pre-orders and few sitting on dealership lots. ItsZ06 high-performance edition, all new for 2023, is likely to be even harder to find.

Continue read on marketwatch.com

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