C7 Corvette sales haven’t been glorious since rumors of the mid-engine C8 Corvette began to really pick up steam throughout 2018. Now, with the car confirmed for a July reveal, dealers have noted an uptick in demand for the next-generation sports car.
That demand, however, comes at the consequence of even lower C7 Corvette sales. Bloomberg reported Monday that many buyers have approached dealerships with cancellation requests for 2019 Corvette models. Instead, they want to wait and see what the mid-engine C8 Corvette has to offer. One dealership has offered pre-orders for the next-generation Corvette since 2014—long before we had any sort of concrete details on the car.
In the meantime, current Corvette sales have been in a freefall. In 2018, Chevrolet sold 18,791 Corvettes, a figure down 44 percent from 2015 levels. In fact, Corvette sales have declined every quarter in year-over-year figures since 2016. The market conditions have led many dealers to slap major discounts on the sports car, sometimes as high as $15,000 off.
The mid-engine C8 Corvette, no doubt, has accelerated the sales slowdown as buyers remain eager to see what the revolutionary sports car will bring to the table.
Not only will the new car excite current fans, analysts believe the mid-engine layout is a power play to attract a younger buyer to the car. Dealers told Bloomberg they too expect new customers to have a look at the mid-engine Corvette, where they’d likely visit an exotic car dealership.
What the mid-engine Corvette will actually do for the brand and its customer base remains to be seen. There’s no denying, though, that the car is perhaps the most highly anticipated generation ever.
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Source: Bloomberg
Comments
We see this at most C model changes. The C6 only sold something like 12K units in the last year.
The next thing will be the first C8 models will show up and some dealers will take orders and want six figures for the first ones then the price will drop to the normal rate once supplies catch up.
If you want a C7 now is the best time to buy one. The best deal in the sports car world right now.
I recall reading a article that the c7 outsold all other cars in it’s class, combined. This article really spins that, if it’s still true.
There are a couple of dealers on YouTube promising C8’s with no dealer mark ups. Rick conti and Chevy dude being 2 of them. And with the expected price there is no doubt people will wait and see. Not only to take a look at the C8 but to wait for the additional promos that will follow on the C7
This had to be expected given that the new C8 Corvette will mark the historic change from front engine layout to mid-engine which means everyone who had considered buying a C7 will wait until the new C8 is available; although GM could have come out with a new special edition model.. a twin-turbo 7.0L V8 generating 1,000 hp.
Where are all the traditional front engine fans who are so vocal? Are they sitting on their hands, ran out of money or is it that they’re all in old folks homes or in cemetaries. Lol
I’m not in an old folks home, or a cemetery (I don’t think). I have my C7, a 2014; and it’s just fine – will last my lifetime. I didn’t see a need to move to a C6 from my C5, as there wasn’t enough of a change – the C7 was EXTREMELY different. It suits me to every facet of my dreams, of the Mid-60’s when muscle cars were “the thing” and my later years of European sports cars. Now then as to the C8. It’s not my driving style, as I learned from my european adventures. I don’t need a 25/75 weight distribution, the 50/50 is just fine for me and my tackling of Apex and Apogees. My zero to 60 time @ 3.8 for on-ramps is just fine. I’m about to do my second cross country trip, this one 7000 miles where the first was the Delivery and Route 66 and 4000 miles. The C7 has more space for “my stuff” than any sports car I have ever owned, including the C4 and C5. You don’t hear much talk of that for the C8. So we will see.
Peter Neild,
I like the C7 and will most likely buy a C8. I have never owned a GM vehicle. I was referring to those who vehemently resist the change to the C8. I’m hoping that the C8 has greater headroom than the C7 which seems to be the case in the mule. It’s a major issue for me.
The frunk may provide very decent storage space as it does in the McLaren.
Mid engine cars aren’t noted for having a lot of room for “stuff.”
Youngest average age (<40) sports car owners belong to the Nissan GTR. Pretty sure its engine is in front.
magirus,
GTR sales averaged 44 cars per month in 2018 and now 31 in 2019 which is basically completely irrelevant in the overall picture.
http://carsalesbase.com/us-car-sales-data/nissan/nissan-gt-r/
Good point, but engine placement is mentioned in the article as a way to attract younger buyers.
And unless they’re using other models’ parts bins, Corvette will also be edging into GTR price territory which is part of the reason for the Nissan’s low sales numbers, so we will see how relevant C8 will be. Remember what happened to the Viper.
I’ve traditionally purchased European sports cars in the past. I’m not against American cars (I drive a newer F250 Diesel), I just hadn’t run into one (aside from a Ford GT) that appealed to me more than the Euro options. I did cross shop a C7 Grand Sport when shopping for an older Ferrari. Ultimately I purchased the F430, but I’m highly anticipating the C8, and there’s a strong possibility it will be my first GM purchase. I’ve been regularly checking for updates, and I’m excited to see the final product.
Currently the discounts on The C7 are minimal, and if sales are wanted the dealers need to really make it worthwhile or else they will be stuck with new C7 inventory and will take even a bigger hit as time goes by.
Discounts of C7’s should be at 20% off MSRP Minimally to get any movement
The car with eye-catching and striking looks. The car attracted my attention and many others.
I read this article! I hope you will continue to have such articles to share with everyone! thank you!