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Carsales Staff8 Oct 2020
NEWS

Deposits put down for Chevrolet Corvette not valid

Would-be Aussie owners of GM’s mid-engined supercar left high and dry as GMSV sorts out dealer network

The Australian distributor of the highly-anticipated Chevrolet Corvette due here in late 2021 has told customers that the deposits they have paid to Holden dealers to secure the V8-powered, mid-engined supercar are essentially worthless.

In a bulletin issued today to all those who have registered interest in the Chevrolet Corvette, General Motors Specialty Vehicles (GMSV) broke the news that would-be owners who have laid down a deposit are not guaranteed a vehicle.

It also said all Holden dealers were now being asked to “refund these deposits, while we finalise the ordering process”.

Holden dealers have been taking deposits for the new Chevrolet Corvette ever since it was revealed in the USA back in mid-2019, despite the fact that final pricing – which is tipped to be at least $130,000 – has not been set.

Right-hand drive C8 Corvette models are undergoing final testing

The problem is the Holden dealer network no longer effectively exists now the brand has been axed by General Motors, and GMSV is yet to appoint the dealers who will form its network.

The clear issue is that some dealers who have taken money may not be GMSV dealers and are therefore not in a position to fulfill the orders they have accepted.

While that may seem unethical, the reality is it would be counter-intuitive for a Holden dealer not to accept a deposit from a customer keen on owning the new Chevrolet Corvette.

They’ll just go and spend their money somewhere else.

“We understand that some customers may have already placed deposits with Holden dealers,” GMSV said in the bulletin.

“Unfortunately, deposits will not guarantee your purchase of a Corvette when they arrive towards the end of next year and we recommended that all dealers to [sic] refund these deposits, while we finalise the ordering process.”

Customers who paid Corvette deposits to Holden dealers can expect a refund

As well as sorting out its dealer network, GMSV will also be studying how to ensure a fair distribution of vehicles.

An online ordering system might be put in place, as was seen with the all-electric Mercedes-Benz EQC for example, while Honda Australia is currently using a lottery system to select customers for its forthcoming limited-edition Honda Civic Type R.

Set to arrive in Australia late next year, the C8 Chevrolet Corvette is in high demand but the allocation is understood to be limited to 250-300 vehicles.

It’s not clear if the latest announcement means Australian Corvette allocation numbers have been reduced, or whether it simply reflects the fact that GMSV is still to sort out lingering issues with Holden dealers.

The GMSV brand and its dealerships will also sell the locally-converted Chevrolet Silverado 1500 LTZ when it launches late this year, followed by the Silverado 2500 in 2021.

“The Corvette, together with the Silverado, will be sold through a GMSV network which we are working hard to set up for a fourth-quarter launch this year across Australia and New Zealand,” GMSV said in today’s bulletin.

The C8 Corvette Stingray has removable roof panels

The Chevrolet Corvette is powered by a mid-mounted 6.2-litre naturally-aspirated LT2 V8 (370kW/640Nm) that drives the rear wheels through an eight-speed dual-clutch automatic transmission.

Apart from Australia, it will be sold in a number of other right-hand drive markets including New Zealand, Japan, India, the UK and South Africa.

According to the GMSV website, standard features on Aussie-delivered Corvette will include an 8.0-inch infotainment touch-screen, a 12-inch customisable digital instrument display, wireless phone charging, keyless entry/start with remote start, and a 10-speaker Bose audio system.

Options available to Australian Corvette buyers will include the Front Lift system that elevates the car’s low nose to get over tricky driveways and speed bumps, along with a colour head-up display and performance data recorder.

The GMSV statement to interested Corvette buyers:

“Since announcing GM Specialty Vehicles on 18th of August, we have seen an overwhelming reaction and interest in both Silverado and Corvette.

“It’s great to see the passion and excitement in which Corvette is spoken about in many forums. Such excitement has seen some speculation about the ordering process.

“The Corvette, together with the Silverado, will be sold through a GMSV network which we are working hard to set up for a fourth quarter launch this year across Australia and New Zealand.

“We understand that some customers may have already placed deposits with Holden dealers.

“Unfortunately, deposits will not guarantee your purchase of a Corvette when they arrive towards the end of next year and we recommended that all dealers to refund these deposits, while we finalise the ordering process.

“Please be assured by registering your interest on GMspecialtyvehicles.com, you have taken the important first step and to help with our planning we would like to take this opportunity to ask you a few questions through our short survey.

“Thanks for your passion,

“The GMSV Team”

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Written byCarsales Staff
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