Article: Chevy’s Corvette Is Selling Just as Fast as You’d Think
10-12-2013, 10:30 AM
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Article: Chevy’s Corvette Is Selling Just as Fast as You’d Think
http://wallstcheatsheet.com/stocks/c...k.html/?ref=YF
This is probably not the most surprising bit of news that you’ll hear this week, but it certainly warrants mentioning: the sales of Chevrolet’s (NYSE:GM) new Corvette Stingray are taking off. The Detroit News is reporting that nearly 950 Chevrolet dealers across the country that have received initial shipments of the all new 2014 Corvette, though they aren’t staying there very long.
The average lot time for the new sports car is around five days, a wickedly quick turnaround for vehicles of any kind. Moreover, the Corvettes are not gracing every Chevy dealership with its intimidating presence. GM said that Chevy dealers that sold at least four Corvettes in 2012 would qualify for the initial shipments, provided they agreed to meet salesperson and service training requirements. How many Stingrays they take inventory of depends primarily on how many Corvettes they sold last year, DN says.
Les Stanford Chevrolet in Dearborn, Michigan, is one of the first dealers to receive the C7, which began shipping in mid-September (Les Stanford is also one of the largest Corvette dealers in the country, Detroit News points out). Sales manager Scott Montgomery said that he delivered about 40 2014 Corvettes last month, and will likely match that this month. The shipments aren’t relegated to the Dearborn area, either, and are traveling across the country, as far as Seattle.
“We get several truckloads a week that are very quickly delivered,” Montgomery said. “They don’t last long at all. The public is going nuts for this car.” Ken Lingenfelter, known for his collection of cars that is as immense as it is impressive, had placed his own order at Les Stanford months ago. In his collection of over 150 vehicles, 40 percent of them are Corvettes, going back to 1953. Moreover, Lingenfelter’s father was a GM executive, so his opinion carries some weight behind it. Fortunately, the C7 lives up to his standards, if anyone had their doubts.
“This is just an absolutely incredible car,” he told DN, adding that, “It’s a winner. It’s got style, comfort, a lot of new electronics. The interior is much upgraded from what it was. The way it handles on the race track is very, very good.”
As you might expect, there’s likely a waiting list for a car that is so in demand. However, Chevrolet spokesman Monte Doran says that the rumors of the six-month line to get one are untrue. Instead, dealerships are handling their own waiting lists — Doran did acknowledge, though, that, “We have a big bank of orders that we’re trying to fulfill as quickly as possible.”
This is probably not the most surprising bit of news that you’ll hear this week, but it certainly warrants mentioning: the sales of Chevrolet’s (NYSE:GM) new Corvette Stingray are taking off. The Detroit News is reporting that nearly 950 Chevrolet dealers across the country that have received initial shipments of the all new 2014 Corvette, though they aren’t staying there very long.
The average lot time for the new sports car is around five days, a wickedly quick turnaround for vehicles of any kind. Moreover, the Corvettes are not gracing every Chevy dealership with its intimidating presence. GM said that Chevy dealers that sold at least four Corvettes in 2012 would qualify for the initial shipments, provided they agreed to meet salesperson and service training requirements. How many Stingrays they take inventory of depends primarily on how many Corvettes they sold last year, DN says.
Les Stanford Chevrolet in Dearborn, Michigan, is one of the first dealers to receive the C7, which began shipping in mid-September (Les Stanford is also one of the largest Corvette dealers in the country, Detroit News points out). Sales manager Scott Montgomery said that he delivered about 40 2014 Corvettes last month, and will likely match that this month. The shipments aren’t relegated to the Dearborn area, either, and are traveling across the country, as far as Seattle.
“We get several truckloads a week that are very quickly delivered,” Montgomery said. “They don’t last long at all. The public is going nuts for this car.” Ken Lingenfelter, known for his collection of cars that is as immense as it is impressive, had placed his own order at Les Stanford months ago. In his collection of over 150 vehicles, 40 percent of them are Corvettes, going back to 1953. Moreover, Lingenfelter’s father was a GM executive, so his opinion carries some weight behind it. Fortunately, the C7 lives up to his standards, if anyone had their doubts.
“This is just an absolutely incredible car,” he told DN, adding that, “It’s a winner. It’s got style, comfort, a lot of new electronics. The interior is much upgraded from what it was. The way it handles on the race track is very, very good.”
As you might expect, there’s likely a waiting list for a car that is so in demand. However, Chevrolet spokesman Monte Doran says that the rumors of the six-month line to get one are untrue. Instead, dealerships are handling their own waiting lists — Doran did acknowledge, though, that, “We have a big bank of orders that we’re trying to fulfill as quickly as possible.”
10-12-2013, 10:37 AM
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You only have to look at the smile on the faces of those taking delivery to understand why this car is lusted after. I don't care what part people don't like about the car it is simply a remarkable car
10-12-2013, 10:55 AM
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The 6 had a run that was arguably too long. I expect decent demand for the 7 for a while.
10-12-2013, 11:03 AM
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Team Owner
And throwing in the name of Lingenfelter. Wasn't his car purchased as part of his business, to develop new products for the C7. He would buy a C7, even if he 100% hated it(which I doubt he does), because he has a business to run.
10-12-2013, 11:45 AM
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10-12-2013, 11:45 AM
#9
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Its is misleading. They are not staying on the lots BECAUSE they
are customer orders so they pick them up. Once all the first got
to have them are gone will be just like any other car, waiting for
a home.
Also once most of the forum people that got there, post will
slow. Reports of problems will be on the world outside
the forum. Which will make gm happy.
are customer orders so they pick them up. Once all the first got
to have them are gone will be just like any other car, waiting for
a home.
Also once most of the forum people that got there, post will
slow. Reports of problems will be on the world outside
the forum. Which will make gm happy.
10-12-2013, 11:53 AM
#10
GM is missing a real PR story. The Corvette brand is so powerful as well as GM's manufacturing prowess that well over 3000+ from across the US plunked down significant deposits without ever seeing or sitting in the car. Not bad! And, that 3000 probably equates to $186 million for the first couple of months of building. Now that's real trust and loyalty!!
10-12-2013, 12:08 PM
#12
Burning Brakes
Actually, I'm told the dealers stuck one "stock" car in for every two ordered cars, on average. So if those dealer stock cars are turning every five days, that's a pretty good indication of high demand.
How long before they saturate the market ? How many C5's and C6's are ready to be replaced ? 100,000 ? Maybe 2015 or 2016 - but who really knows.
How long before they saturate the market ? How many C5's and C6's are ready to be replaced ? 100,000 ? Maybe 2015 or 2016 - but who really knows.
10-12-2013, 12:58 PM
#13
Team Owner
Actually, I'm told the dealers stuck one "stock" car in for every two ordered cars, on average. So if those dealer stock cars are turning every five days, that's a pretty good indication of high demand.
How long before they saturate the market ? How many C5's and C6's are ready to be replaced ? 100,000 ? Maybe 2015 or 2016 - but who really knows.
How long before they saturate the market ? How many C5's and C6's are ready to be replaced ? 100,000 ? Maybe 2015 or 2016 - but who really knows.
For every Corvette owner that drives his car 15,000 miles annually, their are dozens that don't drive there car 5,000 miles annually.
Very few C5's and C6's are worn out and require replacing with a C7. More like the owner gets tired of his C5/C6 and wants something new. Kind of like the seven year itch.
10-12-2013, 01:02 PM
#14
Team Owner
That is absolutely no surprise to me, Chev has a winner on it's hands, the best Corvette yet. Congrats to all owners and future owners of the C7. 
10-12-2013, 01:34 PM
#15
Burning Brakes
Lot's of 50,000 mile C5's and 30,000 mile C6's need replacing??????
For every Corvette owner that drives his car 15,000 miles annually, their are dozens that don't drive there car 5,000 miles annually.
Very few C5's and C6's are worn out and require replacing with a C7. More like the owner gets tired of his C5/C6 and wants something new. Kind of like the seven year itch.
For every Corvette owner that drives his car 15,000 miles annually, their are dozens that don't drive there car 5,000 miles annually.
Very few C5's and C6's are worn out and require replacing with a C7. More like the owner gets tired of his C5/C6 and wants something new. Kind of like the seven year itch.
Except mine was a 7 month itch to get rid of my 13' C6.
10-13-2013, 11:42 AM
#16
Burning Brakes
Lot's of 50,000 mile C5's and 30,000 mile C6's need replacing??????
For every Corvette owner that drives his car 15,000 miles annually, their are dozens that don't drive there car 5,000 miles annually.
Very few C5's and C6's are worn out and require replacing with a C7. More like the owner gets tired of his C5/C6 and wants something new. Kind of like the seven year itch.
For every Corvette owner that drives his car 15,000 miles annually, their are dozens that don't drive there car 5,000 miles annually.
Very few C5's and C6's are worn out and require replacing with a C7. More like the owner gets tired of his C5/C6 and wants something new. Kind of like the seven year itch.
You know another interesting trend among Corvette owners, is how many have cars with two or three previous owners. My informal survey says, a lot !!
The car has an appeal long after the first 50,000 miles, and they are (usually) so well taken care of, they outlast their owner's interest, or even their owners lives. It would be interesting to know how many are still on the road or, at least, in runnable condition in a heated garage somewhere. I bet the number is 80% or better.
