Chevrolet is set to unveil the C8 Corvette on July 18th, which could explain why the current C7 Corvette isn’t selling as well as it was in the past. General Motors currently has a 137-day Corvette supply across the U.S., which translates to 9,055 units of the sports car at dealerships waiting to find homes. It’s worth noting that Corvette supply in January stood at at 232-days.
Enthusiasts eager to buy a new Corvette are likely for the eighth-generation car, unofficially known as the mid-engine Corvette that been an on-again, off-again affair since the car’s inception in 1953.
The high level of Corvette inventory make sense when looking at U.S. Corvette sales. During the first quarter of 2019, Corvette sales fell 11 percent to 3,943 units compared to 4,457 in the first quarter of 2018. Overall Corvette sales have been on a steady decline since the introduction of the Corvette C7 for the 2014 model year, a circumstance that is explained by high initial demand for the C7 during the first year of its launch, followed by a gradual drop-off thereafter. In 2018, Chevy sold 18,781 Corvettes compared to 25,079 in 2017, 29,995 in 2016 and 33,329 in 2015.
Before GM announced the reveal date for the Corvette C8, there were rumors that the Detroit-based automaker could produce both the C7 Corvette and C8 simultaneously. However, that will not be the case, as GM has confirmed that C7 Corvette production will end this summer.
That means that those looking to get what could be the last front-engine Corvette should probably buy one now. An April Chevrolet incentive takes $3,000 off the Corvette C7, but the deal is only good for current Corvette owners.
If you’ve wanted a Corvette and don’t really care about the fancy new mid-engine version coming down the pike, then now might be a good time to visit your local Chevrolet dealership and get ’em while they last. But hurry you must not – as production will still take place for the last few months, and are plenty of units on hand.
Source: Corvette Blogger