C8 Corvette Prices: New & Used C8s are Finally Depreciating
C8 Corvette prices finally began to cool off around six months ago, which is great news for patient buyers. And bad news for anyone who hopes to buy a C8 to drive and flip it.
After roughly three years of shortages and supply constraints, we’re simply used to seeing new and used vehicle prices climb to new record levels with each passing month. Meanwhile, the eighth generation Corvette has been in high demand since it launched in 2019 for the 2020 model year, and that particular model has been affected by a red hot market more than most, selling for more than MSRP to this day in some occasions. However, there are signs that C8 Corvette prices not only took a slight dive last year – but stayed there, setting a new paradigm, according to the Fourwheel Trader YouTube channel.
This particular channel has been tracking C8 Corvette prices for some time now, and always has some sort of interesting analysis to share with us. That’s also the case with this new clip, embedded below, which shows the results of its most recent pricing study. This time around, Fourwheel Trader gathered pricing data from 2,500 C8 Corvette listings – both new and used – to identify trends. First off, in terms of the current sales mix, the study found that 61 percent of cars for sale at the moment are coupes at an average price of $88,000, while convertibles are listed for $99k on average.
Compared to three months ago, these numbers are significantly lower, and that much is quite obvious when looking at this data on a graph. C8 Corvette price drops began to accelerate last August. Since then, they’re declined by seven percent, followed by an additional 4.5 percent over the past three months. Looking back to August 2021, prices have declined by 17-18 percent across the board, making the latest Corvette quite a bit more affordable than it was not too long ago.
Over the last six months, on the other hand, Corvette prices have dropped by 11-14 percent, with new examples depreciating faster than used ones. Our host credits much of this to the fact that new Corvettes are being sold less frequently with markups as supply begins to catch up with demand.
Adding fuel to the fire is the fact that it’s taking longer for people to sell their C8s, too. Back in July 2021, cars were turning in 10 days time on average, but that number has swelled to 55 days as of late February.
All of this essentially means one thing – C8 Corvette prices have entered a new phase, and it seems to be semi-permanent – as nothing really is set in stone in the automotive market. Demand is still strong and prices are still high, but we’ve finally arrived at a point where new and used C8 Corvettes are actually depreciating. And thankfully for those in the market, it isn’t quite as difficult or expensive to bring a C8 home right now than it was not terribly long ago.
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