Corvette Market is Plummeting: What You Need to Know

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Buying a Car Doesn't Have to Suck™

[gregwayne]

I have a long memory for those dealers that wanted to sell me a Stingray for $15-25k over MSRP. I’ll never go back.

[Rhinozzzz]

The consumer is having a tough time with out of control inflation, and HIGH interest rates on homes and cars. Groceries? up 30%+ since COVID? And vehicle manufacturers have raised their MSRP's 35%+ since COVID? People are sick of it. Guarding their wallets.

[spireland]

Corvette market is just going back to what it's supposed to be. A mass market car that regular people can actually afford.

[Dgtal_Hppy]

The market is not crashing. It's returning to normal.

[cmiamicarclub]

The z06 and c8 will continue to drop. Under msrp. The economy and interest rates are bad. Over 150k corvettes made.

[wayfast]

Two things: 1. I called 3 dealers advertising ZO6 at MSRP. Ad was 24 hours old. All 3 said "Oh, that car is sold". Typical car dealer bs. 2) Your headline is misleading $50K off. Click bait - shameful. And you wonder why car dealers get a bad reputation.

[jacksondaniels]

Good! As a C7 owner, I’m sick of the excessive markups and the arrogance of the automotive dealers and parent companies. There is no reason for a consumer to still be paying over $130k for a 2LT Stingray and over $250k for a ZO6. I understand the economics of supply and demand, but the price gouging is ridiculous! And to think, the government bailed GM out from collapsing. Then turn around and bend the consumer over!

[Eatongee]

My local dealer has a 2024 Rapid Blue 3LT listed for $93k. It's been there since October. 8 months no sale. They park it our front on sunny days and store it away at closing time. Every day for 240 days. I am guessing they aren't making any deals with people.

[kitfisto]

Dropping new car prices will eventually lead to dropping used car prices. good news.

[bertg.]

I went to the same dealer where I bought my current Corvette, and I'm a mature, safe driver with a credit rating well into the 800's, and after driving up in my current Corvette, they would not let me take a test drive in a new C8. Period. No sale today, boys!

[TheOriginalLugnuts]

Its market saturation, demand was met in 2023 and there’s not enough owners ready to dump their cars for a new one yet. If you look back at every corvette generation it was the same thing a drop in sales after 4 years.

[blraider]

Just picked up a ‘24 Z06 with Z07 at $3500 below msrp yesterday.

[James-olrw]

$10000.00 discount means car is over priced in the first place.

[ernest]

well that was a waste of time typical dealer mumbo jumbo

[marblox]

All those people that paid $20Gs OVER are going to take a bath on their cars. Spending money foolishly.

[VaDude]

I had a 2017 Stingray 2LT and my wife had a 2019 1LT. We sold hers in 2021 for 5 grand more than she paid for it new and mine in 2022 for about 7 grand less than I paid for it new 5 1/2 years prior.

Dealerships were asking 50 grand over sticker for a new C8 in 2022 - which drove up values on C7s. We sold both of ours because we moved overseas and couldn't bring them.

Both the car market and the real estate market are due for a serious correction.

[bighustles]

Custom ordered my fully loaded C8 HTC Z51 for MSRP at around 93K. in 2021. Just about paid off. No complaints.

[blaster]

As someone who has been holding out for a stingray C8 with the Z51 package droptop, THIS IS A GODSEND TO MY WALLET 😂😂😂😂

[Forever.Remain.Nameless]

Sold my 1LT 3wks ago for msrp(what i paid) after owning it for 10 months and putting 8400 miles on it, the dealership sold it for $10k over msrp in like a week so there's a fool born every minute I guess 😂

[benjaminfallon]

I have been hearing about the “sky is falling” for 3 years…interest rates while higher are well within the historical norm, people just got use to artificially cheap money. Employment remains strong. Stock market sitting right around 40, 000. Federal yearly deficit has been slashed by over half since 2020. Small business applications are up at record levels. Supply chains have recovered. Housing values holding firm.

Reality is that the economy has changed post COVID. Boomers retired. Young workers went mobile. Gig economy replacing traditional employment. Era of cheap liquidity post 2008 financial crisis has gone away….all in all, the US economy has weathered pretty well, and much better than in other countries.