The 2022 Chevy Corvette has received a J.D. Power Canada ALG Residual Value Award.
ALG, the official residual-value arm of global research firm J.D. Power, published the results of its 2022 Canada Residual Value Awards last week. General Motors Canada performed well in the study, as in addition to the 2022 Chevy Corvette Stingray, the five other 2022 model year GM vehicles recognized for strong residual values in this study were the Cadillac Escalade, GMC Yukon, GMC Savana, Chevy Bolt EV and Chevy Silverado 2500HD.
The Chevy Corvette’s strong residual values are well-documented. Last year, research firm Kelley Blue Book said it expected the C8 Corvette Stingray to maintain a strong residual value thanks to its attractive exterior styling, bargain $60,000 base price and undeniable performance.
“With its 490-horsepower pushrod V8 engine, it offers true supercar performance at a price that’s less than half of what you might pay for a Porsche 911,” KBB said of the mid-engine sports car previously.
Strong demand will also likely contribute to the residual value of the 2022 Chevy Corvette. The GM Bowling Green Assembly plant building the sports car as fast as it can and demand is still not being met, so it seems as though demand for second-hand Corvettes will remain strong in the near future.
J.D. Power says that “numerous variables affect the actual residual value of a vehicle over a multi-year lease term,” including mileage, quality/reliability, options and feature sets and the current macroeconomic environment. The research firm says automakers need to take these variables into account when forecasting residual values as this will leave them better equipped to maximize profitability with off-lease vehicle sales and repossessions in the future.
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Comments
I would submit that low production due to supply chain constraints in many of the models is playing a much larger role than usual in these surveys. More supply side economics than recognition of the model.
I’ve seen several times now the advertising for the ECOCHIP here on the GM Authority site. Does this mean that GM approves the use of this device on ALL ICE engines ?? Tomg
I am very happy to own a 2021 C8. Not leased. Never expected it to be as popular as it is. I ordered mine at MSRP from a dealer and waited… one year plus one month for delivery. I had been prepared to purchase a C7 2014 to 2019 and had been planning and saving for years, it just so happens that the mid-engine came along. I love it so much I’d marry it if I could.
Enjoy your adventure.
I couldn’t agree more. I too have 2021 Sebring Orange 3LT Z51and absolutely love it. My son has a 2019 Z06 and my neighbor a 2019 ZR1. I’ve done some spirited driving in both and still like the C8 best.
I’ve owned all but two of the Generations. Currently own 2 C-8s. 1st 2020 Long Beach Red 3LT Z51 Coup. 2nd 2020 Sebring Orange 3LT Z51 Convertible. These are by far the best looking, best preforming Corvette yet. Have driven them at Ron Fellows driving school in Parump Nevada. They are everything you could possibly imagine. Congratulations to Harley Earl and Zora Duntov for never giving up on building a mid engine since the early Sixtys.
It must be nice to own two Corvettes. 👍😁
It is good to read an article where GM has positive news. The Corvette is an American darling vehicle.