Higher Production Than Expected
Thread Starter
Pro
Joined: Feb 2014
Posts: 581
Likes: 218
From: Ontario Canada
Higher Production Than Expected
Anyone else a bit surprised at just how many C7's will be produced for 2014. I had originally expected this first year C7 to be somewhat limited and thus help to maintain resale value, future demand etc.
Apparently that's not the case from all appearances.
According to published figures, production for 2012 totalled 11,647 and 2013 totalled 13,466 units.
My C7 was built Jan 2014 and is already #12,107 and there is still @ 6 months of production left. That would suggest they are on track to produce more than DOUBLE last years numbers.
Obviously there is a high demand for the cars right now, but the higher production quantity does not bode well for future resale values.
Anyone else surprised?
Apparently that's not the case from all appearances.
According to published figures, production for 2012 totalled 11,647 and 2013 totalled 13,466 units.
My C7 was built Jan 2014 and is already #12,107 and there is still @ 6 months of production left. That would suggest they are on track to produce more than DOUBLE last years numbers.
Obviously there is a high demand for the cars right now, but the higher production quantity does not bode well for future resale values.
Anyone else surprised?
Safety Car
Joined: Feb 2007
Posts: 4,939
Likes: 448
From: CHOCOWINITY NC
Not at all...Chevy's job is to sell cars and return gains to their shareholders, NOT to insure your future resale. They need to get a return on the C7 investment. If the demand is there, they'll build as many as they can. It's been reported that BG's production capacity is now 40K/Yr. I'm sure GM would like to sell every one of those..
Racer
Joined: Jan 2005
Posts: 470
Likes: 9
From: Broken Arrow Oklahoma
Not at all. First year C6 production was around 37,000. As of last week, when taking museum delivery, I was told they have produced about 20,000 and are building at a rate of 18 per hour. Most days they are working overtime.
Pro
Joined: Dec 2013
Posts: 678
Likes: 12
I wouldn't worry about it. Lower production runs don't guarantee higher value. If no one wants the car and only 1,000 were built they would be worthless. A strong demand for new vette also indicates a strong demand for used vette. May people can't pay full dollar value for a new one but will gladly pay less for a used one. I think the resale market will be strong. The car has a strong demand so enjoy it.
Melting Slicks
Joined: Feb 2013
Posts: 2,489
Likes: 579
From: Central Gulf Coast Florida
Future resale value is not an issue for me. Vettes do retain value better than average. And, you can bet GM wants to sell as many as possible. They are in business to make money.
Instructor
Joined: Aug 2007
Posts: 158
Likes: 63
I Hope not
I had the good fortune to hear Doug Fehan speak recently. Chevy expects(hopes) the C7 will attract many new buyers. The Porsche people will be tempted to switch. The car is being well received in Europe. Etc etc. If they are right don't look for any big discounts next year, also resale values should hold up.
In addition many Cadillac models are getting great reviews. Gm is slowly but surely establishing itself as a genuine world class car manufacturer. Let all hope they keep going.
In addition many Cadillac models are getting great reviews. Gm is slowly but surely establishing itself as a genuine world class car manufacturer. Let all hope they keep going.
Instructor
Joined: Mar 2002
Posts: 132
Likes: 0
From: atlanta ga
resale
Resale doesn't bother me either. Had the C5 the for 13 years and hope to have this one the same.
Melting Slicks
Joined: Oct 2003
Posts: 2,834
Likes: 91
From: California
Not surprising. I got these numbers from http://tech.corvettecentral.com/
C6:
C5 (first year was a VERY short production run):
My C7 was built on 2/13 and the VIN is in the mid 15000 number. I'm guessing that with a run date until 8/8 they will hit the 30,000 mark.
C6:
Code:
Year Cpe Conv Z06 ZR1 GS GS Conv 427 Total 2005 26728 10644 37372 2006 16598 11151 6272 34021 2007 21484 10918 8159 40561 2008 20030 7549 7731 35310 2009 8737 3343 3461 1415 16956 2010 3054 1003 518 1577 3707 2335 12194 2011 3112 780 906 806 5212 2782 13598 2012 2820 621 478 404 5056 2268 11647 2013 2597 720 471 482 4908 1736 2552 13466 TOTAL 215,125
Code:
Year Coupe Conv FRC/Z06 Total 1997 9752 9752 1998 19235 11849 31084 1999 18078 11161 4031 33270 2000 18113 13479 2090 33682 2001 15681 14173 5768 35622 2002 10634 8784 5869 25287 2003 12812 14022 8635 35469 2004 16165 12216 5683 34064 TOTAL 238,230
Last edited by HalfMoon; Feb 15, 2014 at 02:33 PM. Reason: sometimes I suck at spelling.
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Melting Slicks
Joined: Feb 2013
Posts: 2,489
Likes: 579
From: Central Gulf Coast Florida
Team Owner
Joined: Sep 1999
Posts: 41,732
Likes: 1,718
From: Springfield MO
Not surprising. I got these numbers from http://tech.corvettecentral.com/
C6:
C5 (first year was a VERY short production run):
My C7 was built on 2/13 and the VIN is in the mid 15000 number. I'm guessing that with a run date until 8/8 they will hit the 30,000 mark.
C6:
Code:
Year Cpe Conv Z06 ZR1 GS GS Conv 427 Total 2005 26728 10644 37372 2006 16598 11151 6272 34021 2007 21484 10918 8159 40561 2008 20030 7549 7731 35310 2009 8737 3343 3461 1415 16956 2010 3054 1003 518 1577 3707 2335 12194 2011 3112 780 906 806 5212 2782 13598 2012 2820 621 478 404 5056 2268 11647 2013 2597 720 471 482 4908 1736 2552 13466 TOTAL 215,125
Code:
Year Coupe Conv FRC/Z06 Total 1997 9752 9752 1998 19235 11849 31084 1999 18078 11161 4031 33270 2000 18113 13479 2090 33682 2001 15681 14173 5768 35622 2002 10634 8784 5869 25287 2003 12812 14022 8635 35469 2004 16165 12216 5683 34064 TOTAL 238,230
Melting Slicks
Joined: Mar 2006
Posts: 3,249
Likes: 545
From: Land of the free, home of the brave...
To the OP - "the higher production quantity does not bode well for future resale values." Anyone who buys a sports car anticipating resale values should be thinking about "seat of the pants, shock and awe'' values. Just sayin'.
Melting Slicks
Joined: Oct 2003
Posts: 2,834
Likes: 91
From: California
Team Owner
Joined: Sep 1999
Posts: 41,732
Likes: 1,718
From: Springfield MO
In both cases I am concerned about resale value down the pike as I don't want to pay anymore for my new car (sport car or 4 door sedan) than I have to.
When I traded my 10.5 year old C5 in on my new C6 Z06, the resale value(price it sold for used) of the C5 was 53% of it's original MSRP. that amounted to around $10,000 I saved vs if the resale value had only been 25% of the original MSRP..
Melting Slicks
Joined: Oct 2003
Posts: 2,834
Likes: 91
From: California
I buy these cars expecting that I am simply throwing the money away, never to be seen again. I get a pleasant surprise when they actually DO retain their value pretty well. It's all about perspective.
In this case, KBB predicts a pretty good resale value on the C7. It came in #5 on their top 10 list, estimating 67% value at 36 months and 52.3% at 60 months.
http://www.kbb.com/new-cars/best-res...e-top-10-cars/
Tech Contributor
Joined: Aug 1999
Posts: 16,376
Likes: 404
From: Should this thoughtful, valuable contribution meet with no acknowledgement or 'thanks' this post----
My built in October, 1996 '97 C5 has terrific resale value....over a third of what I paid for it new. Not many other domestic 97 vehicles can say the same thing, if any at all. That being said, I did not buy it for resale at all...I'm in it for several other reasons, like most. Add into the mix collector car insurance, 32 mpg highway, and all I can say is what a bargain to drive.
Team Owner
Joined: Sep 1999
Posts: 41,732
Likes: 1,718
From: Springfield MO
If you are referring to the base C7 convertible, they are included in the VIN's of the base coupe, and not separately.
Melting Slicks
Joined: Oct 2003
Posts: 2,834
Likes: 91
From: California
Thanks, I had seen talk of convertible VINs and wasn't certain, never paid much attention as I'm not a convertible guy. I did that once and found out it's not for me.
Team Owner
Joined: Sep 1999
Posts: 41,732
Likes: 1,718
From: Springfield MO
My built in October, 1996 '97 C5 has terrific resale value....over a third of what I paid for it new. Not many other domestic 97 vehicles can say the same thing, if any at all. That being said, I did not buy it for resale at all...I'm in it for several other reasons, like most. Add into the mix collector car insurance, 32 mpg highway, and all I can say is what a bargain to drive.
Team Owner
Joined: Sep 1999
Posts: 41,732
Likes: 1,718
From: Springfield MO
Same here. I bought a 1957 Ford convertible in 1963 and said that's the only one I'll ever own. My 56 Vette is a convertible but I run the removal hardtop on it most of the time. Only time it's run as a convertible is when I'm asked to carry a young beautiful girl in a parade and she sits on the rear cover.