Reservations for the 2023 Chevy Corvette Stingray are slated to open on Thursday, but buyers of the sportscar will have to pay more to get their hands on one.

GM (GM) raised the price of the base model of the Corvette Stingray for 2023, with the new price tag on the car set to have a starting price of $63,195 plus destination fee of $1,295, Motor Trend reported. This is an increase of $1,050 from the previous year’s model.

The 2022 model had a starting price of $60,900, plus destination fee.

Pricing on the 2LT and 3LT, and the highly anticipated Z06 model, have not yet been released by GM.

Trevor Thompkins, a Corvette spokesman, told the Detroit Free Press about the price increase, “We often use the start of a new model year to make sure vehicles are priced appropriately.”

However, with the price increase on the 2023 Stingray, car buyers will get some new options to choose from. These include a 20-spoke wheel design and new finishes such as Gloss Black ($995), Ultra Bright Machined ($1,995), and Satin Black with Red Stripe ($1,495), according to the Detroit Free Press.

A 70th Anniversary Edition package will also be available on the Corvette for the 3LT and Z06 3LZ coupe and convertible models for $5,995. The special edition package commemorates the original C1 Corvette that debuted in 1953. It comes with either black or white paint, unique badging with red accents, and racing stripes that can be added for $995.

Other options include black exhaust tips versus stainless steel for an added $200 and interior trim selections such as the Stealth Aluminum Interior Trim or Adrenaline Red Dipped, the Detroit Free Press said.

GM will produce the 2023 Corvette Stingray at its Bowling Green plant in Kentucky.

As of Thursday at 11:39 a.m. ET, shares of GM were trading at $44.78, up $1.00, or 2.27%.

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The 2023 Chevy Corvette Z06 from GM will be debuted during first game of the World Series. General Motors
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