The 2023 Chevy Corvette won the Kelley Blue Book 2023 Best Overall Resale Value Award, making it to the top 10 models out of those KBB analyzed. The publication states that the top 10 “list represents the best of the best, and the threshold for this honor is high.”
Kelley Blue Book also says the vehicles chosen for the list keep their resale value better than 95 percent of competing vehicle models. The selected models are those likely to keep the greatest amount of their original value over five years.
The 2023 Chevy Corvette placed fifth on the list, behind the 2023 model year Toyota Tundra, Toyota Tacoma, Tesla Model X, and Ford Bronco. The Vette’s five-year resale value is estimated to be 65.3 percent of its original price. No other GM vehicles besides the Corvette made the 2023 top-ten list.
Meanwhile, the average new vehicle retains approximately 45 percent of its original price as resale value after 60 months. The Corvette is very close to the 65 percent average retained resale value for the top-ten list. At a starting price of $64,500, the 2023 Vette should have an average resale value of $43,118 after five years.
As a reminder, GM produces the 2023 Chevy C8 Corvette in the Stingray and the Z06 versions. The Stingray sports the 6.2L V8 LT2 engine under the hood as standard, rated at 490 horsepower and 465 pound-feet of torque. The Z06 is powered by the 5.5L V8 LT6, developing 670 horsepower and 470 pound-feet of torque.
The upcoming 2024 Chevy Corvette E-Ray, which debuted on January 17th, brings the Corvette lineup its first-ever hybrid-powered variant. The front-mounted electric motor works in conjunction with the naturally aspirated 6.2L V8 LT2 with which the E-Ray is also equipped, generating a maximum of 655 horsepower.
The E-Ray’s engine connects to the rear wheels via a dual-clutch eight-speed automatic transmission (RPO code MLH), while the electric motor in the front axle helps create an all-wheel drivetrain. All C8 Corvette variants – including the E-Ray – sit on the GM Y2 platform under the skin. Production takes place at the GM Bowling Green plant in Kentucky.