The iconic 2023 Chevrolet Corvette Z06 could cost more than $200,000 when it arrives in Australia, if pricing in North America is a guide.
The price of the 2023 Chevrolet Corvette Z06 has been revealed in the US and Canada, giving Australian buyers an indication of how much they can expect to pay for the flagship C8.
Based on calculations by Drive – using North American Chevrolet pricing as a guide – the Corvette Z06 1LZ could be listed from $220,000 plus on-road costs when it arrives in local showrooms next year, pushing the 2LZ to $235,000, with the flagship 3LZ coming in close to $250,000.
General Motors Specialty Vehicles (GMSV) is yet to announce pricing or timing of the 2023 Corvette Z06 in Australia, or which variants will be sold locally. The final prices for the Corvette Z06 could indeed be more expensive than these estimates.
In the US the regular Corvette C8 Stingray 2LT and 3LT grades cost approximately $US80,200 and $US85,300, which equates to $AU117,800 and $AU125,300.
Even accounting for exchange rates, there is a discrepancy of approximately $AU45,000 between Corvettes sold in Australia and those sold in the US.
Based on this calculation – if GMSV applies the same price premium formula to Z06 variants – the high performance flagship could cost in excess of $250,000.
In the United States, the C8 Corvette Z06 starts from approximately $US117,000 (once an average 10 per cent state sales tax is applied).
This translates to approximately $AU172,000 for the Corvette Z06 in 1LZ trim, based on today’s currency exchange rates.
However this price does not include shipping costs to Australia or GMSV’s profit margin between the factory gate and local showrooms.
It is also unclear which model grade of the Corvette Z06 will be offered by GMSV in Australia.
Using the current Corvette line-up as a guide, it is possible GMSV may elect to import only the more expensive, better equipped models.
The Corvette Z06 in 2LZ guise costs approximately $US127,150 ($AU187,000), while the flagship Corvette Z06 in 3LZ guise costs approximately $US132,300 ($AU194,300).
Each of these grades represents a price rise of roughly $AU47,000 ($AU69,000) more than the three “LT” variants of the Stingray in its home market.
For Canadian buyers, the Z06 is closer to $AU60,000 more than the base Corvette, although all grades work out cheaper compared to the US equivalents when converted to Australian dollars, ranging from $CA129,198 to $CA144,198 ($AU145,100-163,200) depending on levels of equipment.
A fully-loaded Z06 could set US buyers back close to $US165,000 ($AU242,000) when optional equipment such as the Z07 package ($US8995/$AU13,200), carbon aero package ($US8495 to $US10,495/$AU12,500 to $AU15,400) and carbon-fibre wheels ($US9995 to $US11,995/$AU14,700 to $US17,600) are added.
If the wide selection of options are available in Australia, a fully-equipped Corvette Z06 could nudge the $300,000 mark before drive-away costs are applied.
The upcoming Corvette Z06 will be powered by a 5.5-litre, double overhead cam V8 for the first time in Corvette history, with its flat-plane crankshaft allowing for a redline of 8600rpm.
The recent $15,000 Australian Corvette price hike was criticised by local dealers who claimed General Motors is been price-gouging customers with the combination of higher RRPs and lower vehicle supply.