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Chevy Corvette Holds Its Value Well, Study Finds

Statistical analysis of the automotive resale market shows the Chevy Corvette to be one of the top 25 models which experience the lowest five-year depreciation from their initial purchase value, a new study shows.

The Chevy Corvette placed 23rd among the cars likely to keep the largest chunk of their original value over the half-decade following their purchase, according to the latest iSeeCars ranking.

Side view of the Chevy Corvette.

While the Porsche 911 Coupe placed first with just 9.3 percent depreciation, the average depreciation of the Chevy Corvette over five years – 27.5 percent – still put it solidly ahead of the 38.8 percent average decline in value across the whole automotive sector. The typical Vette shed about $22,712 of value during the period, while retaining more than 72 percent of its monetary worth.

The results correspond to patterns observed by the study both on this and previous occasions. Executive analyst Karl Brauer said that “several sports cars are among the top vehicles at holding their value, including four of the top 10 models.” He pointed out that the COVID-19 pandemic boosted purchases of “fun cars” and that “demand for them remains strong in the post-pandemic world.”

Rear three quarters view of the Chevy Corvette.

The Chevy Corvette was one of three Bow Tie cars to achieve top placement in retaining value over time. The Chevy Camaro, another sports car firmly in the aforementioned “fun” category, and the Chevy Spark, an affordable vehicle, both ranked in the top 25 with 24.2 percent and 26.6 percent depreciation respectively.

At the opposite end of the scale, EVs depreciated fastest out of the study’s vehicle categories. The typical electric vehicle lost 49.1 percent of its value over five years. However, this is a significant improvement since 2019, when an average EV shed 67.1 percent of its value over the same period.

The Corvette logo.

All passenger vehicle types are depreciating less today than pre-pandemic as powerful demand for used vehicles along with declining supply of cheap models keeps prices high. Today, only 12.4 percent of used vehicles are priced under $20,000 compared to 49.3 percent in 2019.

The reduced depreciation rates were noted when the study compiled data on 1.1 million used vehicle sales during the 12-month period ending in October 2023. As analyst Karl Brauer also remarked, “the good news for car owners is that all used cars hold their value better than they did five years ago.”

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Comments

  1. In other news water is Wet

    Reply
  2. Hope they didn’t spend too much $ on that study

    Reply
  3. SHHH do not let the dealers see this they will take there 10k ADM and make it 20k.

    Reply
  4. i assume the depreciation is based off the sticker price, not the $25k markup people were paying to have 1st year c8

    Reply

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