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Chevy Corvette Sales Command Segment With 64 Percent Share During Q1 2024

Chevy Corvette sales increased in the United States but decreased in Canada during the first quarter of 2024, while 24 deliveries were recorded in Mexico and 23 in Brazil.

Chevrolet Corvette Sales - Q1 2024 - United States

In the United States, Chevrolet Corvette deliveries totaled 8,576 units in Q1 2024, an increase of about 9 percent compared to 7,904 units sold in Q1 2023.
MODEL Q1 2024 / Q1 2023 Q1 2024 Q1 2023
CORVETTE +8.50% 8,576 7,904

Chevrolet Corvette Sales - Q1 2024 - Canada

In Canada, Chevrolet Corvette deliveries totaled 331 units in Q1 2024, a decrease of about 46 percent compared to 616 units sold in Q1 2023.
MODEL Q1 2024 / Q1 2023 Q1 2024 Q1 2023
CORVETTE -46.27% 331 616

Chevrolet Corvette Sales - Q1 2024 - Mexico

In Mexico, Chevrolet Corvette deliveries totaled 24 units in Q1 2024, a decrease of about 17 percent compared to 29 units sold in Q1 2023.
MODEL Q1 2024 / Q1 2023 Q1 2024 Q1 2023
CORVETTE -17.24% 24 29

Chevrolet Corvette Sales - Q1 2024 - Brazil

In Brazil, Chevrolet Corvette deliveries totaled 23 units in Q1 2024, an increase of about 77 percent compared to 13 units sold in Q1 2023.
MODEL Q1 2024 / Q1 2023 Q1 2024 Q1 2023
CORVETTE +76.92% 23 13

Corvette sales continue to dominate its segment. Shown here is the 2024 Chevy Corvette Stingray.

Competitive Sales Comparison (USA)

The continued dominance of Chevy Corvette sales is its strongest yet when ranked by sales volume, earning a 64 percent segment share during Q1 2024. The mid-engine sports car has commanded the premium sports cars space for more than a dozen years now since we started tracking Chevy Corvette sales.

Chevy Corvette sales were up nine percent for 8,576 deliveries, while Porsche’s two entries placed second and third. The 911 (née Carrera/Targa) saw a 17 percent dip to 1,930 units, with not even a quarter of the Vette’s deliveries, and the 718 (née Cayman/Boxster) posted a 29 percent slide to 797 units.

The Mercedes-Benz AMG GT took fourth place with an 11 percent bump to 706 units, followed by the Lexus LC in fifth with a 14 percent uptick to 493 units, and the Jaguar F-Type in sixth with a six percent slip to 342 units.

The second Mercedes-Benz entry, the SL-Class – now a model also produced by the automaker’s AMG division – followed in seventh with a 78 percent drop to 201 units, while the Audi A8 placed eighth with an 87 percent jump to 181, and the Nissan GT-R landed last with a 46 percent decrease in sales for just 77 deliveries.

Two discontinued models fall off the list this quarter, namely the Ford GT and Acura NSX.

Notably, many of the segment contenders here cost significantly more than Chevy’s mid-engine sports car. As a result, these higher-priced rivals typically see lower sales volumes. However, that price difference is steadily shrinking, as we can see by reviewing the starting MSRP for each Corvette variant, destination freight charge (DFC) included:

  • 2024 Corvette Stingray – $69,995
  • 2024 Corvette E-Ray – $106,595
  • 2024 Corvette Z06 – $111,795

Sales Numbers - Premium Sports Cars - Q1 2024 - USA

MODEL Q1 24 / Q1 23 Q1 24 Q1 23 Q1 24 SHARE Q1 23 SHARE
CHEVROLET CORVETTE +8.50% 8,576 7,904 64% 57%
PORSCHE 911 -16.95% 1,930 2,324 15% 17%
PORSCHE 718 -29.09% 797 1,124 6% 8%
MERCEDES-BENZ AMG GT +10.48% 706 639 5% 5%
LEXUS LC +13.86% 493 433 4% 3%
JAGUAR F-TYPE -5.79% 342 363 3% 3%
MERCEDES-BENZ SL-CLASS -78.10% 201 918 2% 7%
AUDI R8 +86.61% 181 97 1% 1%
NISSAN GT-R -46.15% 77 143 1% 1%
TOTAL -4.60% 13,303 13,945

The Corvette earned a dominating 64 percent segment share, up a segment-best seven percentage points year-over-year, to account for over three-fifths of all sales in this space. The 911 posted a 15 percent share, and the 718 held a six percent share, both down two percentage points. As has continued to be the case, the 911 was the only model other than the Corvette to earn a segment share in the double digits. The rest of the field each earned a five percent share or less.

Combining Porsche’s two entries, the 911 and 718 lines, gave the German automaker a 21 percent segment share with 2,727 sales – less than a third of the share and sales volume of the Corvette.

Sales Numbers - Porsche Sports Cars - Q1 2024 - USA

MODEL Q1 24 / Q1 23 Q1 24 Q1 23
PORSCHE 911 -16.95% 1,930 2,324
PORSCHE 718 -29.09% 797 1,124
TOTAL -20.91% 2,727 3,448

Meanwhile, the two Mercedes-Benz entries, the AMG GT and AMG SL-Class, gave the German automaker a seven percent segment share with 907 deliveries.

Sales Numbers - Mercedes-Benz Sports Cars - Q1 2024 - USA

MODEL Q1 24 / Q1 23 Q1 24 Q1 23
MERCEDES-BENZ AMG GT +10.48% 706 639
MERCEDES-BENZ SL-CLASS -78.10% 201 918
TOTAL -41.75% 907 1,557

The premium sports car segment decreased five percent to 13,303 units in Q1 2024, meaning that Chevy Corvette sales outperformed the segment average.

The GM Authority Take

C8 Chevy Corvette sales continue to command the premium sports car space, with a 64 percent segment share during the first quarter of 2024 being its highest yet. Not surprisingly, demand for the C8 range continues to outpace supply as the first-ever mid-engine Corvette is now in its fifth model year already.

About Corvette

The 2024 Chevy Corvette is offered in three variants – the C8 Stingray, the C8 Z06, and the first-ever C8 E-Ray. The 2024 model year adds new active safety tech to the model’s features list, including Automatic Emergency Braking and standard IntelliBeam automatic high-beam headlamps, as well as Lane Keep Assist and Lane Departure Warning. The 2024 Corvette also gets new driver mode selection animations along with a new infotainment system that incorporates Google built-in features.

Furthermore, the Stingray’s M1L transmission gets a case design update and, critically, will no longer require two extra quarts of transmission fluid for track use. It should be noted that GM does not condone tracking M1L-equipped vehicles without the Z51 package.

The 2024 Corvette Stingray drops two alloy wheel choices and replaces them with new designs. Check out all the 2024 Corvette wheel options.

Finally, the 2024 Corvette gets a new Edge Red painted rear fascia script LPO-level option.

A year ago, GM debuted the first-ever 2024 Chevy Corvette E-Ray, featuring the naturally aspirated 6.2L V8 LT2 engine from the Stingray mated to an electric motor mounted at the front axle. The E-Ray is also the first-ever production Corvette equipped with front-wheel drive as well as all-wheel-drive traction.

That combination also makes the E-Ray the fastest accelerating Corvette ever, with a 0-to-60 mph time of just 2.5 seconds, a tenth of a second quicker than the Z06. Meanwhile, the Corvette Z06 features the 5.5L V8 LT6 gasoline engine, a race-bred, naturally aspirated, dual-overhead cam, flat-plane crank powerplant.

See how the Corvette E-Ray fared against its non-GM rivals in Car and Driver‘s recent Lightning Lap 2024 at Virginia International Raceway, then catch the Corvette E-Ray flaunting its all-wheel drivetrain during the inaugural North American F.A.T. Ice Race in Aspen.

Accolades for the C8 Corvette continue to roll in.

The Corvette E-Ray made NACTOY’s “Best of 2024” list, among the 25 vehicles advancing to the finalist round of the 30th annual North American Car, Truck, and Utility Vehicle of the Year Awards.

Additionally, the Corvette Convertible won Strategic Vision’s 2023 Total Quality Impact award.

Furthermore, the Corvette Z06 fared well in the Car and Driver 0-150-0 MPH Test, and the Chevy Corvette E-Ray won the 2024 10Best Award.

Finally, a new study finds that the Chevy Corvette holds its value well, with Kelley Blue Book placing it on its 2024 Best Resale Value Awards. The mid-engine sports car is estimated to offer a five-year resale value of nearly 60 percent of its original sticker price.

Meanwhile, Consumer Reports members say again that the Chevy Corvette is the most satisfying car to own.

2025 Chevy C8 Corvette ZR1 Coupe rendering

The 2025 Corvette C8 refresh will bring noteworthy changes to the interior. The most significant change is expected to be the deletion of the HVAC controls found along the large center divider between the two seats.

Next up for the mid-engine Vette is the 2025 Corvette C8 ZR1, which will debut this summer. GM teased it for the first time in a video with the tagline, “The Unthinkable is Coming This Summer.”

The mid-engine ZR1 is expected to be powered by the LT7 engine, a boosted variant of the 5.5 V8 LT6 engine found in the Z06, raising the performance bar even higher. Our spies spotted a 2025 Corvette ZR1 prototype testing on the Nurburgring, revealing differences between the ZR1 and Z06 with the Z07 package, as well as sporting a new wheel design.

As we await the inevitable transformation of the Corvette nameplate going all-electric, and current mid-engine gas-powered models launched so far are still naturally aspirated, all future Corvette C8 variants will feature forced induction, starting with the ZR1.

Keeping up with production remains GM’s biggest challenge with America’s sports car as the automaker continues to add variants to offer the nameplate’s most diverse lineup ever for Chevy’s ever-popular mid-engine marvel. In total, 6,413 units of the 2023 Corvette Z06 have been built since November of 2022.

You can view the video teaser for the Corvette ZR1 here:

About The Numbers

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. Clearly the corvette is the best bang for the buck ! Go USA ! 🇺🇲🇺🇲🇺🇲

    Reply
  2. These pop up adds are annoying ! Like flys on a turd ! Can hardly view the content or posting a reply is annoying and taking away any thrill reviewing the content ! To gm authority please stop this !

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  3. That Zr1 preview reminds me of The Wraith.

    Reply
  4. Sales down in Canada,eh! Would it have anything to do with the $10,000.00 price increase for the 2024 model?

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