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Chevy Corvette Sales Take 58 Percent Market Share During Q4 2022

Chevy Corvette sales increased in the United States, Canada, and Mexico during the fourth quarter of 2022. In addition, the sports car recorded a handful of deliveries in Brazil.

Chevrolet Corvette Sales - Q4 2022 - United States

In the United States, Chevrolet Corvette deliveries totaled 9,130 units in Q4 2022, an increase of about 10 percent compared to 8,293 units sold in Q4 2021.

During the complete 2022 calendar year, Corvette sales increased about 4 percent to 34,510 units.
MODEL Q4 2022 / Q4 2021 Q4 2022 Q4 2021YTD 2022 / YTD 2021 YTD 2022 YTD 2021
CORVETTE +10.09% 9,130 8,293 +4.45% 34,510 33,041

Chevrolet Corvette Sales - Q4 2022 - Canada

In Canada, Chevrolet Corvette deliveries totaled 432 units in Q4 2022, an increase of about 15 percent compared to 375 units sold in Q4 2021.

During the complete 2022 calendar year, Corvette sales decreased about 31 percent to 1,561 units.
MODEL Q4 2022 / Q4 2021 Q4 2022 Q4 2021YTD 2022 / YTD 2021 YTD 2022 YTD 2021
CORVETTE +15.20% 432 375 -30.99% 1,561 2,262

Chevrolet Corvette Sales - Q4 2022 - Mexico

In Mexico, Chevrolet Corvette deliveries totaled 34 units in Q4 2022, an increase of about 42 percent compared to 24 units sold in Q4 2021.

During the complete 2022 calendar year, Corvette sales decreased about 28 percent to 104 units.
MODEL Q4 2022 / Q4 2021 Q4 2022 Q4 2021YTD 2022 / YTD 2021 YTD 2022 YTD 2021
CORVETTE +41.67% 34 24 -27.78% 104 144

Chevrolet Corvette Sales - Q4 2022 - Brazil

In Brazil, Chevrolet Corvette deliveries totaled 14 units in Q4 2022.

During the complete 2022 calendar year, Corvette sales totaled 82 units.
MODEL Q4 2022 / Q4 2021 Q4 2022 Q4 2021YTD 2022 / YTD 2021 YTD 2022 YTD 2021
CORVETTE * 14 * * 82 0

Competitive Sales Comparison (USA)

Chevy Corvette sales during the fourth quarter of 2022 enabled the mid-engine sports car to maintain its decisive lead, posting a 10 percent bump to 9,130 units. In fact, the Corvette sold nearly 3K more units more than all rivals combined.

The Porsche 911 (née Carrera/Targa) remained in second place with in spite of a 16 percent slide in sales to 2,793 units, less than a third of the Corvette’s deliveries. The recently-overhauled Mercedes-Benz AMG SL-Class remained in third with 2,793 deliveries. Porsche’s other entry, the 718 (née Cayman/Boxster), stayed in fourth with a six percent dip to 1,058 units, while Mercedes-Benz’s other entry, the AMG GT, rounded out the top five with an 82 percent jump to 550 units. Those five models from the three marques represent the majority of sales in the premium sports car segment, since the remaining half of the field accounted for a mere 614 combined deliveries.

We’ve noted in the past 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. But that price difference is shrinking, especially when we consider that pricing for the new track-focused 2023 Chevy Corvette Z06 starts at over $100K.

To that end, last month the Chevy Corvette was named to Car and Driver’s 2023 10Best cars list. The publication noted that every car on the list has to go on sale by January 31st and that they set a price cutoff. “Inflation has bumped up the price of a new car, and thus our cutoff to a Chevrolet Corvette Z06-size $110,000. We assure you that’s totally a coincidence,” the editors explained.

Sales Numbers - Premium Sports Cars - Q4 2022 - USA

MODEL Q4 22 / Q4 21 Q4 22 Q4 21 Q4 22 SHARE Q4 21 SHARE YTD 22 / YTD 21 YTD 22 YTD 21
CHEVROLET CORVETTE +10.09% 9,130 8,293 58% 58% +4.45% 34,510 33,041
PORSCHE 911 -15.70% 2,793 3,313 18% 23% +1.61% 10,204 10,042
MERCEDES-BENZ SL-CLASS +30,075.19% 1,204 4 8% 0% +338.74% 2,027 462
PORSCHE 718 -6.12% 1,058 1,127 7% 8% -18.83% 3,484 4,292
MERCEDES-BENZ AMG GT +81.51% 550 303 4% 2% -4.50% 2,970 3,110
LEXUS LC -3.90% 394 410 3% 3% -50.14% 1,387 2,782
AUDI R8 -29.41% 108 153 1% 1% -51.62% 314 649
ACURA NSX +1,350.00% 87 6 1% 0% +140.32% 298 124
FORD GT -40.00% 24 40 0% 0% -30.77% 99 143
NISSAN GT-R -98.35% 1 60 0% 0% -74.89% 57 227
JAGUAR F-TYPE -58.43% 291 700 2% 5% -43.08% 1,259 2,212
BMW I8 -100.00% 0 6 0% 0% -72.22% 5 18
TOTAL +8.50% 15,640 14,415 -0.85% 56,614 57,102

The Corvette held a dominant 58 percent segment share, flat on a year-over-year basis. The 911 held an 18 percent segment share, down six 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 an eight percent share, while the 718 posted a seven percent share, down one percentage point. The AMG GT held a four percent share, up two percentage points. The rest of the field represented a just five percent share combined.

Combining Porsche’s two entries, the 911 and 718 lines, gave the German automaker a 25 percent segment share with 3,851 sales.

Sales Numbers - Porsche Sports Cars - Q4 2022 - USA

MODEL Q4 22 / Q4 21 Q4 22 Q4 21 YTD 22 / YTD 21 YTD 22 YTD 21
PORSCHE 911 -15.70% 2,793 3,313 +1.61% 10,204 10,042
PORSCHE 718 -6.12% 1,058 1,127 -18.83% 3,484 4,292
TOTAL -13.27% 3,851 4,440 -4.51% 13,688 14,334

Meanwhile, Mercedes-Benz’s two entries, the AMG SL-Class and AMG GT, gave the German automaker an 12 percent segment share with 1,754 sales.

Sales Numbers - Mercedes-Benz Sports Cars - Q4 2022 - USA

MODEL Q4 22 / Q4 21 Q4 22 Q4 21 YTD 22 / YTD 21 YTD 22 YTD 21
MERCEDES-BENZ AMG GT +81.51% 550 303 -4.50% 2,970 3,110
MERCEDES-BENZ SL-CLASS +30,075.19% 1,204 4 +338.74% 2,027 462
TOTAL +471.35% 1,754 307 +39.89% 4,997 3,572

As before, the Corvette along with models from Porsche and Mercedes-Benz command the segment with a combined 95 percent share.

The premium sports car segment grew 8.5 percent to 15,640 units in Q4 2022, meaning that Corvette sales slightly outpaced the segment average.

The GM Authority Take

The C8 Corvette continues to dominated its segment as the mid-engine Vette enters its fourth model year. This is despite sales underperforming the segment average a second consecutive month for the first time since production of the C8 first ramped up in early 2020, though this quarter it was by just two percentage points. Yet the Corvette would most likely obliterate rivals if not for ongoing supply constraints.

Production of the 2023 Chevy Corvette has been heavily constrained due to supplier-related issue even halted as recently as last October. GM just can build enough of its popular, mid-engine value proposition. And even though GM began accepting more 2023 Chevy Corvette Z06 orders this past November, supply is still limited enough that one car dealer is asking a whopping $375K for a for “slightly used” 2023 Corvette Z06 – a 251 percent increase over MSRP. And this particular 2023 Corvette Z06 Coupe doesn’t come equipped with the Z07 Performance Package.

However, the first retail 2023 Corvette Z06 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.

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 C8 Corvette 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.

Recently, GM President Mark Reuss confirmed that the automaker is cooking up two new high-performance models, namely the C8 Corvette ZR1 and C8 Corvette Zora.

During the GM Investor Day event held last fall month, Reuss discussed two upcoming high-performance Corvette model variants, and although he declined to specifically name the new models, he did provide some interesting insights to help build hype.

With regard to the upcoming C8 Corvette ZR1, Reuss said that “as C8 was designed as an early architecture, we keep stepping it up, so this will again set the standard of the world for performance for Chevrolet, and I couldn’t be more excited for that.”

The C8 Corvette ZR1 is set to be a highly capable all-round performer offering ultra-high-performance for both the road and the track. Making this possible will be the new twin-turbocharged 5.5L V8 LT7 gasoline engine, which will arrive as a boosted variant of the LT6 that motivates the current C8 Corvette Z06. Output from the new ZR1 is expected to peak at 850 horsepower and 850 pound-feet of torque.

Meanwhile, with regard to the upcoming C8 Corvette Zora, Reuss teased that “the next version of the C8 at the very top of the line [would be] something you won’t be able to imagine from a performance standpoint,” adding, “we’ll put the world on notice with this car. It’s our platform of excellence.”

The C8 Corvette Zora will stand out thanks to its twin-turbo, hybrid V8 powerplant and all-wheel-drive system, similar to the forthcoming C8 Corvette E-Ray. Output from the Zora, however, is expected to surpass 1,000 horsepower and 1,000 pound-feet of torque. Reuss also confirmed that GM plans to offer a “fully electric, Ultium-based Corvette in the future.” Perhaps even more intriguing, the Corvette brand is set to expand to an electric sedan, crossover in 2025.

GM just debuted the 2024 Chevy Corvette E-Ray, featuring the naturally aspirated LT2 from the C8 Corvette Stingray mated to an electric motor mounted up front that generates 160 horsepower and 125 pound-feet of torque. Combined output is pegged at 655 horsepower. The all-new hybrid setup provides impressive four-season, all-wheel-drive grip – the first-ever for a Corvette. It also means the 2024 Corvette E-Ray can accelerate from 0 to 60 mph in 2.5 seconds – a tenth of a second quicker the C8 Z06. It can also cover a quarter mile in 10.5 seconds while reaching a trap speed of 130 mph. Finally, a new Stealth Mode allows the C8 E-Ray to be temporarily driven on electric power alone at speeds of up to 45 mph for a few miles, which can be useful for quietly leaving home early in the morning.

GM continues to struggle with being able to build enough of its popular mid-engine performance sports car fast enough even as it offers more and more droolworthy variants. The automaker already commands its segment in the U.S., and could do that across the globe with enough inventory. Even after seventy years, it looks like “America’s sports car” is just getting started.

About The Numbers

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Vince grew up in a GM family, likes manuals, and thinks this is the golden age of the automobile.

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Comments

  1. The C8 is a hit because it looks so damn good, and the performance is just wonderful at that price of admission.

    Reply
  2. The Chevrolet Corvette has been and will be the best sportscar in the U.S. for over 60 years, and forever.

    Reply
  3. My 2021 Stingray just keeps getting better. So glad I got my order in and was able to order the car I wanted.
    Took 13 months, but got the car I wanted.

    Reply
    1. Sleep well, my friend!

      Reply
  4. What the HELL I’m waiting for an allocation at my dealership and GM is sending cars to ever F****** country under the rainbow. Make cars for us here in the US then send them overseas. I’m getting more and more pissed off. May get a Porsche!!

    Reply
    1. We just got an allocation for one. Are you waiting on an allocation or are certain packages you wanted on constraint?

      Reply
      1. What the HELL I’m waiting for an allocation at my dealership and GM is sending cars to ever F****** country under the rainbow. Make cars for us here in the US then send them overseas. I’m getting more and more pissed off. May get a Porsche!!

        Reply
        1. This allocation is up for grabs. Let me know if you’d like it. MSRP for however you configure it.

          Reply
          1. What state are you located? Send your contact info please.

            Reply
            1. I’ll try this just incase. Chadatvettermcgillchevydotcom

              Reply
      2. If your referring to my comment and rant I’m waiting on an allocation from my dealer on a Z06, I don’t think your group can help me there.

        Reply
    2. Not sure where you are, but there are other dealers out there, selling at MSRP, and you can pickup or have shipped. My local Corvette Club (NCCC Sanctioned) is starting to get members with new C8’s and all
      are reporting it was not too difficult. also look for the midenginecorvetteforum and see the info there.

      Reply
    3. I see a comment above concerning a person getting their car in 13 months which means it’s lost even more value and you waited over a year to get it I don’t think many would want to wait 13 months to get a vehicle get gouged getting it and supposed to be happy about it I’ll just keep my C6 Z06 and let someone else deal with the thieves I personally don’t need a vehicle that bad

      Reply
    4. Porsche sells their sports coupes in even more countries than the Corvette is sold in.

      You could buy a Camaro, that’s not sold in many other countries. Make sure you get the four banger because GM exports fewer of those than the V8 variants.

      Reply
  5. THERE ARE DEALERS SELLING AT MSRP
    CHECK CORVETTE FORUM FOR LIST
    MORE CORVETTES PRODUCED IS BETTER FOR EVERY BUYER NOT THE FLIPPERS

    Reply
  6. Anybody know what the max Corvette plant capacity is???? Designed or achieved under ideal conditions.

    Reply
  7. The C8 Corvette is going to go down in history as the most important car in terms of changing the automotive industry. No one has ever made a mid engine V8 sports car with 3s 0-60 for $60k starting price that competes with cars that cost $100k-$200k. This is going to make other automakers to compete in this price/performance category. The Z06 is literally in supercar territory at $100k with a high reving NA 5.5L that competes with cars that cost $300k-$500k. It’s incredible what GM has done in the past 10 years.

    Reply

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