Raging Inflation Makes 2023 Corvette Technically Cheaper Than 2020 Model

Even though the 2023 Corvette Stingray is more expensive than a 2020, it’s actually cheaper…maybe.

As is the case with most new vehicles these days, GM recently raised prices for the 2023 Corvette across the board by $1,050. This means that the cheapest 2023 Corvette one can buy has a starting MSRP of $63,195 for the 1LT coupe, which includes a mandatory $1,295 destination and delivery fee. As most recall, the C8 launched for the 2020 model year with a highly-touted $59,995 starting price, but that doesn’t necessarily mean you got more for your money back then.

That’s due to the magic of inflation, which has reached its highest point in decades in recent months, wiping away our purchasing power in one fell swoop. And even though Corvette prices have risen, they haven’t kept pace with the rate of inflation, which actually makes the 2023 model cheaper than the 2020 Stingray, in spite of the fact that it costs more on paper.

According to the U.S. Bureau of Labor Statistics CPI calculator, $60,000 in 2019 money – when the C8 first launched – is now equivalent to $66,342, as The Drive recently pointed out. That means it’s technically cheaper to purchase a 2023 model, even though it starts out at $1,905 more, not factoring in destination charges. But it isn’t even the best deal of the bunch, surprisingly.

If one could possibly locate a 2022 Corvette sitting on a lot somewhere and buy it at MSRP (which is rather difficult to do these days, it seems), it would be essentially the same as purchasing one in 2020 for a mere $56,200. That’s an incredible deal any way you slice it, even if it may prove to be virtually impossible to actually pull off.

The other problem, of course, is that salaries haven’t kept pace with inflation either, so you may not be making any more money than you were back in 2019, and likely less, in the grand scheme of things. Purchasing power is eroding every time inflation ticks upward, which makes it more difficult for the average person to go out and buy a new sports car. Regardless, if you have the means and can find one at MSRP, now seems like a pretty good time to do so.

Photos: Chevrolet

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