The 2021 Corvette Stingray was the second-fastest selling car in the United States in August behind the new Hyundai Santa Cruz compact pickup.
According to iSeeCars, the 2021 Corvette Stingray spent an average of 8.3 days on dealership lots before being sold. The mid-engine sports car was also the fastest-selling car in the U.S. in July, taking on average just seven days to sell.
As iSeeCars analyst Karl Brauer points out, demand for the Corvette has consistently outstripped supply since the nameplate moved to a new mid-engine platform in 2020.
“Demand for the mid-engine Chevrolet Corvette has exceeded supply since its launch for the 2020 model year,” said Brauer. “Dealers stopped taking orders for the 2021 model year in March, and demand remains so high the model consistently sells for over MSRP, with an average price of $89,788 compared to its MSRP range of $59,900-$78,850.”
The point about average transaction prices is notable, as many other fast-selling vehicles like the Santa Cruz and Subaru Crosstrek retail for well under $40,000. The C8 Corvette Stingray, by comparison, often sells for over $90,000 and has much higher profit margins than a regular compact or mid-size passenger vehicle.
GM produced a total of 26,212 examples of the 2021 Corvette Stingray at the GM Bowling Green Assembly plant in Kentucky this year. Production of the 2022 model year Corvette Stingray began on September 6th.
This latest iSeeCars report is based on an analysis of more than one million new and used cars sold in August of the 2021 calendar year. According to the research, the average new car takes on average 26 days to sell. New cars sold nearly a week faster during August than rates recorded in July, during which the average time to sell was 35 days.