Future C8 Resale Values Will Be Like Every Corvette Generation
General Motors produces lots of Corvettes each year. A high supply ensures lower prices. Initial C8 demand can’t change those facts.
The 2020 C8 Corvette is spectacular, and dealers seem pretty intent on marking them up as much as humanly possible. Yes, demand is very high right now. But that won’t last forever. Production adjustments will pretty much guarantee a future where enough C8 models satisfy demand in the near future and beyond.
Whether it’s due to all the hype or the fact that it’s a precedent-destroying reinvention of the new model, some people think the C8 might hold its value for a long time. Based on the performance of previous models though, that won’t be the case. A recent thread created by forum member Abefroman confirmed the community’s belief that in terms of future C8 resale value…
The song will remain the same.
OP started the thread with a fairly basic question:
How well do you think used C8’s will hold their value?
For example a 3LT has an MSRP of $72,000, what do you think that would be worth in 10 years, with say under 10,000 miles on it?
The community’s reaction to that question may have surprised the OP, who has yet to reply to the thread, despite how popular it’s become. It seems people interpreted the question as a back door attempt to imply that C8 resale value might stay high for the next decade or so. That probably explains why “Bearphoto” responded with a statement that resonated with other visitors to the thread:
I personally don’t care as very few new cars will hold any value. In 5 years most cars are worth less than half of what they cost. I’ve had many C5, C6 and C7’s and don’t care about the value. Just enjoy them.
Chevy may not make as many Corvettes and Silverados per year, but compared to Porsche and Ferrari, America’s sports car is a mass-production car — an exotic for the masses, if you will — and it will always be readily available at pretty much any price point. The above screenshot demonstrates this assertion.
Sooner or later, cutting edge cars become outdated, no matter how cool or revolutionary they were upon their debut. That will happen to the C8 eventually. Interestingly enough, the thread shifted to another angle. Are there factors that might cause the C8 to be uniquely cheap ten years from now? “ToddC7” seems to think so:
Cars are getting exponential more tech each generation… and like computers, these will depreciate just as fast. Old cars will become almost non-serviceable by a DIY and even by shops as the years go by and the tech just becomes completely outdated.
Will the C8 depreciate because it’s technology will be hard to repair or replace? Probably not. Every single car that’s made today boasts more technology than it’s direct predecessor. Modern diagnostic equipment practically guarantees older models will still be able to be serviced. Only extremely low production models fall victim to that type of fate. And the Corvette is not a member of that club. Fortunately, “Mjross” puts things into perspective with something of a history lesson:
Every time a new Corvette comes out people think they are getting something special. Ask the people that bought the 78 pace cars. They sat on them all these years and, well the rest is history. Just too many get produced to be considered something like the Ford GT. Part of the mystique of the GT is the fact that everyone cant have one. That and the fact that it is truly a super car.
Takes a while to realize that it just another car! However, a pretty amazing one.
There’s no doubt that the new Corvette is an absolute game-changer. But superlative models give way to newer, more advanced successors. And the Corvette might compete with much more expensive vehicles, but that doesn’t mean the C8 will come close to matching the resale value of those cars. It’s a simple supply and demand issue.
In other words, while earlier buyers can probably flip or drive-and-sell the first few thousand units at a profit (or without much depreciation), Chevrolet will eventually produce enough C8s to put this to an end. The C7 suffered the same fate.
Ultimately, buyers interested in a new Corvette would be wise to just view them as something to enjoy. If you feel differently or want to share your own Corvette depreciation story, head over to THIS THREAD and make your voice heard.
Photos: Chevy