Chevy Corvette sales decreased in the United States, Canada, and Mexico during the third quarter of 2022. In addition, the sports car accounted for 24 deliveries in Brazil.
Chevrolet Corvette Sales - Q3 2022 - United States
In the United States, Chevrolet Corvette deliveries totaled 7,939 units in Q3 2022, a decrease of about 22 percent compared to 10,166 units sold in Q3 2021.In the first nine months of the year, Corvette sales increased about 3 percent to 25,380 units.
| MODEL | Q3 2022 / Q3 2021 | Q3 2022 | Q3 2021 | YTD 2022 / YTD 2021 | YTD 2022 | YTD 2021 |
|---|---|---|---|---|---|---|
| CORVETTE | -21.91% | 7,939 | 10,166 | +2.55% | 25,380 | 24,748 |
Chevrolet Corvette Sales - Q3 2022 - Canada
In Canada, Chevrolet Corvette deliveries totaled 416 units in Q3 2022, a decrease of about 43 percent compared to 733 units sold in Q3 2021.In the first nine months of the year, Corvette sales decreased about 40 percent to 1,129 units.
| MODEL | Q3 2022 / Q3 2021 | Q3 2022 | Q3 2021 | YTD 2022 / YTD 2021 | YTD 2022 | YTD 2021 |
|---|---|---|---|---|---|---|
| CORVETTE | -43.24% | 416 | 733 | -40.17% | 1,129 | 1,887 |
Chevrolet Corvette Sales - Q3 2022 - Mexico
In Mexico, Chevrolet Corvette deliveries totaled 21 units in Q3 2022, a decrease of about 52 percent compared to 44 units sold in Q3 2021.In the first nine months of the year, Corvette sales decreased about 42 percent to 70 units.
| MODEL | Q3 2022 / Q3 2021 | Q3 2022 | Q3 2021 | YTD 2022 / YTD 2021 | YTD 2022 | YTD 2021 |
|---|---|---|---|---|---|---|
| CORVETTE | -52.27% | 21 | 44 | -41.67% | 70 | 120 |
Chevrolet Corvette Sales - Q3 2022 - Brazil
In Brazil, Chevrolet Corvette deliveries totaled 24 units in Q3 2022.In the first nine months of the year, Corvette sales totaled 68 units.
| MODEL | Q3 2022 / Q3 2021 | Q3 2022 | Q3 2021 | YTD 2022 / YTD 2021 | YTD 2022 | YTD 2021 |
|---|---|---|---|---|---|---|
| CORVETTE | * | 24 | * | * | 68 | 0 |
Competitive Sales Comparison (USA)
Chevy Corvette sales during the third quarter of 2022 enabled the mid-engine sports car to maintain its decisive lead, in spite of posting a 22 percent decrease in sales to 7,939 units. In fact, the Corvette sold about 3,400 more units more than all rivals combined.
The Porsche 911 remained in second place with a healthy 38 percent increase in sales to 2,236 units. It was the only other entry in the premium sports car segment to post sales in the thousands, while still accounting for less than a third of the Corvette’s deliveries. The recently-overhauled Mercedes-Benz AMG SL-Class jumped from the bottom to third place compared to last quarter, with 821 deliveries. Porsche’s other entry, the 718 (née Cayman/Boxster), took fourth place with a nine percent slide to 682 units, while Mercedes-Benz’s other entry, the AMG GT, rounded out the top five with an eight percent bump to 514 units. Those five models from the three marques represent the majority of the premium sports car segment, since the remaining half of the field accounted for a mere 315 deliveries combined.
In the past we’ve noted that many of the segment contenders cost significantly more than Chevy’s mid-engine sports car and, as a result, these higher-priced rivals typically see lower sales volumes. However, the price difference is shrinking, especially when we consider that pricing for the new track-focused 2023 Chevy Corvette Z06 starts at over $100K.
Sales Numbers - Premium Sports Cars - Q3 2022 - USA
| MODEL | Q3 22 / Q3 21 | Q3 22 | Q3 21 | Q3 22 SHARE | Q3 21 SHARE | YTD 22 / YTD 21 | YTD 22 | YTD 21 |
|---|---|---|---|---|---|---|---|---|
| CHEVROLET CORVETTE | -21.91% | 7,939 | 10,166 | 62% | 72% | +2.55% | 25,380 | 24,748 |
| PORSCHE 911 | +37.94% | 2,236 | 1,621 | 17% | 11% | +10.14% | 7,411 | 6,729 |
| MERCEDES-BENZ SL-CLASS | +5,760.17% | 821 | 14 | 6% | 0% | +79.69% | 823 | 458 |
| PORSCHE 718 | -9.43% | 682 | 753 | 5% | 5% | -23.35% | 2,426 | 3,165 |
| MERCEDES-BENZ AMG GT | +7.53% | 514 | 478 | 4% | 3% | -13.79% | 2,420 | 2,807 |
| LEXUS LC | -79.92% | 160 | 797 | 1% | 6% | -58.14% | 993 | 2,372 |
| ACURA NSX | +51.72% | 88 | 58 | 1% | 0% | +78.81% | 211 | 118 |
| AUDI R8 | -65.72% | 48 | 140 | 0% | 1% | -58.47% | 206 | 496 |
| FORD GT | -57.50% | 17 | 40 | 0% | 0% | -27.18% | 75 | 103 |
| NISSAN GT-R | -97.04% | 2 | 68 | 0% | 0% | -66.47% | 56 | 167 |
| JAGUAR F-TYPE | * | 382 | * | 3% | 0% | * | 968 | 0 |
| TOTAL | -8.82% | 12,889 | 14,135 | -0.47% | 40,969 | 41,163 |
The Corvette held a commanding 63 percent segment share, down nine percentage points year-over-year. The 911 held an 18 percent segment share, up seven percentage points. As in prior quarters, this Porsche model was the only other entry to post a segment share in the double digits. The AMG SL-Class held a seven percent share, while the 718 maintained a five percent share. The AMG GT posted a four percent share, up one percentage point. The rest of the field represented a three percent share combined.
Combining Porsche’s two entries, the 911 and 718 lines, gives the German automaker a 23 percent segment share with 2,918 sales.
Sales Numbers - Porsche Sports Cars - Q3 2022 - USA
| MODEL | Q3 22 / Q3 21 | Q3 22 | Q3 21 | YTD 22 / YTD 21 | YTD 22 | YTD 21 |
|---|---|---|---|---|---|---|
| PORSCHE 911 | +37.94% | 2,236 | 1,621 | +10.14% | 7,411 | 6,729 |
| PORSCHE 718 | -9.43% | 682 | 753 | -23.35% | 2,426 | 3,165 |
| TOTAL | +22.91% | 2,918 | 2,374 | -0.58% | 9,837 | 9,894 |
Meanwhile, Mercedes-Benz’s two entries, the AMG GT and AMG SL-Class, gave the German automaker an 11 percent segment share with 1,335 sales.
Sales Numbers - Mercedes-Benz Sports Cars - Q3 2022 - USA
| MODEL | Q3 22 / Q3 21 | Q3 22 | Q3 21 | YTD 22 / YTD 21 | YTD 22 | YTD 21 |
|---|---|---|---|---|---|---|
| MERCEDES-BENZ AMG GT | +7.53% | 514 | 478 | -13.79% | 2,420 | 2,807 |
| MERCEDES-BENZ SL-CLASS | +5,760.17% | 821 | 14 | +79.69% | 823 | 458 |
| TOTAL | +171.34% | 1,335 | 492 | -0.67% | 3,243 | 3,265 |
Again, the Corvette along with models from Porsche and Mercedes-Benz dominate the segment with a combined 97 percent share.
The premium sports car segment decreased 12 percent to 12,507 units in Q3 2022, meaning that Corvette sales underperformed the segment average.
The GM Authority Take
Once again, the C8 Corvette dominated its segment during the third quarter of 2022 as the mid-engine Vette enters its fourth model year. This comes despite sales underperforming the segment average for the first time since production of the C8 first ramped up in early 2020. Despite its continued success amongst competitors, the Corvette would probably obliterate rivals if not for ongoing supply constraints.
Even this month, production of the 2023 Corvette was halted again, this time during the week of October 17th, due to a parts supply issue. GM began taking orders for the new 2023 Corvette Z06 in August, but since Z06 production is heavily constrained due to supplier-related issues, the 2023 model-year Z06 is no longer available to order. Order books for the the 2023 Chevy Corvette Stingray, meanwhile, opened up on March 24th. For Z06 models that will be built, GM will allocate new units of the 2023 Corvette Z06 to dealers based on 2020, 2021, and 2022 Corvette Stingray 3LT sales volume, otherwise known as the Historic Sales Volume model. This is change from the Average Day Supply allocation model that was originally believed to be slated for the launch of the new 2023 Corvette Z06.
These kinds of production delays began when the C8 was introduced for the 2020 model year, when GM couldn’t build the Corvette fast enough to meet demand. Even this past April, GM halted production of the Corvette C8 Stingray for a week at its Bowling Green plant in Kentucky due to an unforeseen parts shortage. The automaker also halted production for a week in March for the same reason. These delays forced GM to push the start of production of the 2023 Corvette Stingray from May 9th to May 16th.
In spite of that, the Corvette has remained at the top of its segment in terms of sales, with the 2022 Chevy Corvette being ranked among the top ten fastest-selling vehicles in January 2022. And among Generation X buyers, sales of the C8 Corvette have doubled compared to those of the C7.
The 2023 Chevy Corvette Stingray introduces only a few small changes and updates as compared to the preceding 2022 model year. One of those is the introduction of the new Stealth Interior Trim Package. Power in the 2023 Corvette Stingray continues to come from the naturally aspirated 6.2L V8 LT2 gasoline engine, which is rated at 490 horsepower and 465 pound-feet of torque.
The heart of the exciting new 2023 Chevy Corvette Z06 is the naturally aspirated 5.5L V8 LT6 gasoline engine, which is the highest-horsepower atmospheric V8 ever fitted to a production vehicle. It produces 670 horsepower and 460 pound-feet of torque, with redline set for the flat-plane crankshaft V8 at a screaming 8,600 rpm. Output is routed to the rear wheels through Tremec’s eight-speed dual-clutch transmission. The Corvette C8 Z06 boasts a top speed of 195 mph in base form and 188 mph with the downforce-heavy Z07 Performance Package, outperforming the three previous generation Z06es on the track.
The 2023 Corvette Z06 also arrives with the new 70th Anniversary Edition package. A total of three trim levels are available for the Z06 – 1LZ, 2LZ, and 3LZ, from bottom to top.
Both the Stingray and Z06 are available as either a hardtop coupe (with a manually-removable roof panel) or as a hardtop convertible.
Looking past North America, Chevy designed the new C8 to be the first ever Vette to be produced from the factory in right-hand layout. That includes models specced for Europe, including a 2022 Corvette Stingray Swiss Edition exclusively for Switzerland; Japan, which named the C8 Stingray as the 2021-2022 Performance Car of the Year; and Australia and New Zealand, with the 2023 Corvette already receiving a $15,000 price hike in Australia over the outgoing 2022 model. The C8 will also be sold in China, with GM establishing The Durant Guild import vehicle platform to sell Corvettes, among other performance cars and trucks. The 2022 Corvette unofficially arrived in Brazil through an import company, and GM launched a new digital platform to sell Chevy vehicles in Brazil, Chevy’s second-largest market worldwide after the United States. Earlier this month, the 2023 Corvette Z06 made its first public appearance in the Middle East during a special automotive event called the Automoto Show at the Abu Dhabi National Exhibition Center.
Back in the United States, the first retail 2023 Corvette Z06Â fetched $3.6 million at the Barrett-Jackson Scottsdale auction back in January. Then the first production 2023 Corvette Z06 convertible sold for $1 million in April.
Buyers here and across the globe are clamoring for the C8 Corvette, but GM just can’t build enough of the mid-engine performance sports car, nor can it do so fast enough. The automaker already commands its segment in the U.S., and could do that even more here and elsewhere with enough inventory. And that’s with just the Stingray and Z06 introduced so far among a roster of more exciting variants of Chevy’s mid-engine success story to come.
Other C8 models still on the way include the Corvette C8 E-Ray (indirectly replacing the initially planned Corvette C8 Grand Sport), Corvette C8 ZR1, and Corvette C8 Zora. In April, GM teased the Corvette E-Ray, saying that a fully electric Corvette will follow.
About The Numbers
- All percent change figures compared to Chevy Corvette sales for Q3 2021, unless noted otherwise
- In the United States, there were 77 selling days for Q3 2022 and 77 selling days for Q3 2021
- Corvette sales figures include all Corvette body styles, variants, trim levels and packages
- Sales figures for Lotus, Jaguar, and Maserati not available as those manufacturers do not break out information on a model basis
- GM Q3 2022 sales reports:
- GM Q3 2022 sales U.S.A.
- Chevrolet sales Q3 2022 U.S.A.
- Cadillac sales Q3 2022 U.S.A.
- Buick sales Q3 2022 U.S.A.
- GMC sales Q3 2022 U.S.A.
- GM Canada Q3 2022 sales
- Chevrolet Canada sales Q3 2022
- Cadillac Canada sales Q3 2022
- Buick Canada sales Q3 2022
- GMC Canada sales Q3 2022
- GM Mexico sales Q3 2022
- GM Mexico sales July 2022
- Chevrolet Mexico July 2022 sales
- Buick Mexico July 2022 sales
- GMC Mexico July 2022 sales
- Cadillac Mexico July 2022 sales
- GM Mexico sales August 2022 sales
- Chevrolet Mexico August 2022 sales
- Buick Mexico August 2022 sales
- GMC Mexico August 2022 sales
- Cadillac Mexico August 2022 sales
- GM Mexico sales September 2022
- Chevrolet Mexico September 2022 sales
- Buick Mexico September 2022 sales
- GMC Mexico September 2022 sales
- Cadillac Mexico September 2022 sales
- GM Mexico sales July 2022
- GM China sales Q3 2022
- Chevrolet China Q3 2022 sales
- Buick China Q3 2022 sales
- Cadillac China Q3 2022 sales
- GM Brazil sales Q3 2022
- GM Argentina sales Q3 2022
- GM Chile sales Q3 2022
- GM Colombia sales Q3 2022
- GM South Korea sales Q3 2022
- GM South Korea July 2022 sales
- Chevrolet South Korea July 2022 sales
- Cadillac South Korea July 2022 sales
- GM South Korea August 2022 sales
- Chevrolet South Korea August 2022 sales
- Cadillac South Korea August 2022 sales
- GM South Korea September 2022 sales
- Chevrolet South Korea September 2022 sales
- Cadillac South Korea September 2022 sales
- GM South Korea July 2022 sales
- GM Q3 2022 sales U.S.A.
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Comments
Hard to understand how you could lose market share when your factory is running at full capacity and customers are still experiencing 6-12 month wait times.
The article title is misleading. Look at the numbers. Corvette STILL HAS market dominance. While it yielded some market share to the 911, Corvette still out sold all others by a very wide margin. Corvette still owns this market.
In the US
What are the world wide sales 911 vs corvette?
If memory serves the 911 dominates the sports car market in Europe. I wonder if that would hold if the EU removed the $40,000 VAT tax on American imports.
You answer your own question. The fully utilized factory has less capacity than last year due to screwed up supply chain, so deliveries fell. If they had fixed their production problems they could easily have maintained share as there is plenty of demand.
Outside parts suppliers…the most unreliable form of a business today that relies on outside parts suppliers to maintain their status quo in the business world. GM, along with other auto manufactures have to have these outside parts suppliers to keep their assembly lines running and of course that does not always happen as those outside parts suppliers can and do rely on “outside parts suppliers (raw metals or plastics ect.) to feed their system. It’s all a very convoluted system because all it takes is for just one parts supplier to fail at delivering their parts and the whole system goes down…successful when it works, and a total disaster when it fails. What’s the answer? Probably thinking that every auto manufacture would be best off actually owning every part supplier that they use…in theory that would be beneficial, but the cost would be prohibitive and even then, the “raw materials” parts suppliers might be the deciding factor whether the factory can run or not…so what can the auto manufactures do? To own every single part (could be over ten to thirteen thousand different parts in every vehicle!) manufactured from raw material to actual off the assembly line vehicle would be an astronomical undertaking and would or could raise the cost of the vehicle to the point that it is no longer a viable product in that segment of the marketplace. It’s a tough decision for sure…counting on someone else to keep your product rolling off the assembly line can be a real nightmare as we’ve seen in the last few years of C8 Corvette production.
The more you know about how a business really runs the more you understand how things work in todays world.
A nice Q3-2022 vehicle statistic that, as always, shows the many new vehicles with model year (MY) 2023! It is well known that many customers always want the new MJ from the summer of the year, even if they have ordered it in spring or even earlier. That’s why the many sales mostly only in Q3. The aim is also to refresh the market and attract customers to the dealers who then pay these horrendous surcharges. I can’t be baited with that!
Corvette C8 all:
The example of the Corvette shows that the overlaps between MY 2022 and 2023 are intended by GM. The Z06 is only built and sold in minimal numbers because GM found that its competitor manufacturers (OEMs) – Ferrari, Lamborghini, Porsche, Mercedes, BMW and Acura – only buy the Z06 for internal testing and comparison and then either, disassemble, scrap or sell to R&D departments in Europe and Asia.
Regarding EU imports to the USA:
The Mercedes SL is new on the market and Porsche always wants to “sell the 911 as new”, even if it is very old.
The 911 GT3 MJ2023 is just a marketing model which is usually supposed to attract the media … nothing more because it is too expensive and technically so-so as always. This applies to all OEMs every year!