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New Corvette Sales Drop a Daunting 12 Percent

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Old 05-17-2017, 05:52 PM   #1
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Default New Corvette Sales Drop a Daunting 12 Percent



Huge incentives on new Corvettes do little to attract buyers to the American sports car.

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Old 05-17-2017, 06:00 PM   #2
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There are a number of variables to consider! I know all of the rumors and unknowns surrounding the ZR1, mid-engine, etc. are causing people to hold off. Many of which are hoping that those will become 'known' sooner than later.
It's alright though, we're going to need some surplus inventory when the plant shuts down for a few months
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Old 05-17-2017, 06:21 PM   #3
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The $5000 brake incentive wasn't actually much of an incentive. To get it (on the GS), you had to pick a $8000 option so it still cost $3000. On top of that you were signing up for crazy expensive brake repairs and frequent Sport Cup 2 tire replacements. If a buyer isn't planning on heavily tracking their car this is a huge ongoing expense.

The loyalty incentive targeted Corvette enthusiasts, many of whom are waiting to hear ZR-1 and mid-engine details before buying another Vette.

If they had offered a straight up incentive I imagine the effect on sales would have been quite different.
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Old 05-17-2017, 06:23 PM   #4
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Good. Hopefully there will be big incentives next month when I try to upgrade to a Grand Sport
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Old 05-17-2017, 06:25 PM   #5
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I want to a factory order but finding pricing (even the big 3) meh and with the lack of incentives.. well I'm in the holding off mode/
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Old 05-17-2017, 06:30 PM   #6
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Ordering with GM sucks. Look, we all know that you wait until the right time, you can get 15-20% off. An $80k sticker Corvette is really $64-68k. But some months there aren't good incentives. I don't want to take delivery on a month where there isn't an incentive. I'd place an order for a 2018 right now if I know I could get 15% off MSRP.

Just lower the price by 15-20% on the sticker and don't offer crazy incentives, like companies do with high end cars. Or let me have my choice of incentives currently being offered or being offered when I take delivery. In theory, your incentives are supposed to make me buy it. What the hell is the point of giving me whatever it is that happens to be there after I already committed to buy?
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Old 05-17-2017, 06:36 PM   #7
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Quote:
That’s especially concerning when you consider there were incentives offering up to $8,000 in potential savings on the car.
No it isn't. They may as well not have offered them. The one for brakes is extremely specific and designed only for Z06 purchasers who want fancy expensive brakes costing nearly 10% of the purchase price. The Corvette owner has its own restrictions including the need to own a late model vette at the time. People who sold their vette to trade in for a new one can't even take advantage of it. Technically those are "incentives" but they aren't the kind of incentives most people can actually take advantage of. You could just as logically claim that the sales slump is due in part to a LACK of incentives from GM during a time when they could have been considered useful.
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Old 05-17-2017, 06:37 PM   #8
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Quote:
Originally Posted by village idiot View Post
I'd place an order for a 2018 right now if I know I could get 15% off MSRP.

Just lower the price by 15-20% on the sticker and don't offer crazy incentives, like companies do with high end cars. Or let me have my choice of incentives currently being offered or being offered when I take delivery. In theory, your incentives are supposed to make me buy it. What the hell is the point of giving me whatever it is that happens to be there after I already committed to buy?
Totally with ya
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Old 05-17-2017, 06:38 PM   #9
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I dont get why GM won't let you get the carbon brakes without the damn Cup 2 tires. Id be interested in the brakes with $5k off if i didn't have to get tires that wear out in 4k miles.
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Old 05-17-2017, 06:38 PM   #10
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Typical mid-cycle sales slump. Unless there is an up tick this summer, the real deals will happen this fall with the 2017 leftovers. Closing the factory down for 3 months will probably move a significant number of 2017's over the summer but whatever 2017 inventory is left in late fall should make it a real buyer's market.
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Old 05-17-2017, 06:40 PM   #11
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Originally Posted by boraxman View Post
Totally with ya
I'd also be surprised if advertising the car as $65k, rather than $80k + discounts, wasn't better for sales. Think of how many more people would flock to dealers if the base price in magazines wasn't $45k for the Stingray and $67k instead of $80k for the Z06.
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Old 05-17-2017, 06:47 PM   #12
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I dont get why GM won't let you get the carbon brakes without the damn Cup 2 tires. Id be interested in the brakes with $5k off if i didn't have to get tires that wear out in 4k miles.
You can

You can order a car with the J57 carbon ceramic brake option (order this way, the car doesn't come with the Cup 2 tires or z07 suspension)
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Old 05-17-2017, 06:52 PM   #13
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You can

You can order a car with the J57 carbon ceramic brake option (order this way, the car doesn't come with the Cup 2 tires or z07 suspension)
Oh, my dealer told me I needed the package

I just tried to build a grand sport and didn't see where I could add the brakes without the z07 package.

Last edited by Steven Bell; 05-19-2017 at 09:52 PM. Reason: Merged Posts
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Old 05-17-2017, 07:01 PM   #14
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Yeah, the way prices are set and discounted is a huge pain in the *** for customers. Too complex.
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Old 05-17-2017, 07:12 PM   #15
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It appears quite a few car manufacturers are, and have been, having inventory build ups, or something. Just turned off the TV as there was an ad for $12,000 off a Silverado truck; I know from personal experience in the last month that both Hyundai and Kia are also offering good deals (15% and 16% off being the advertised price---with more off when you meet with them). It seems like Ford was the one that started with the 20% off so many months ago. Lexus sends me something about monthly for their biggest sale of the year pricing---just got another one today. It just seems like every make has been having bigger sales across the board, earlier in the model years than I can recall. The corvette is no different from any of the others----just a car in an industry with sales slowing down.
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Old 05-17-2017, 07:17 PM   #16
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there comes a point where sales have to slow down. Many people who wanted a new generation corvette bought them within the first 3 model years.

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Old 05-17-2017, 07:27 PM   #17
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Originally Posted by MikeLsx View Post
there comes a point where sales have to slow down. Many people who wanted a new generation corvette bought them within the first 3 model years.
This!

I've owned my C3 for 26 yrs so far..... I figure my C7 should be good for that.
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Old 05-17-2017, 07:40 PM   #18
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All this **** about supplier pricing, GMS, hold backs, red tags, loyalty, invoice pricing, etc is just one big pain in the ***. Sell the car for a locked in price and forget the haggling. Less stress for everyone involved. Then you dont have to listen to people flapping their lips as to how they got a better deal than everyone else.
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Old 05-17-2017, 07:43 PM   #19
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Local Corvette dealer sent me a letter with an incredible trade-in offer for my 2014. Not sure what they'd do with the new 2017 price. Problem is, I really like the 2014 and can't afford a new Z06 (just wrote the check for a wedding reception). I don't see the percentage in buying a new base, Z51 or GS since the power would be the same. I guess I'm not alone with this a decision to stay with the current Corvette.
EDIT: I think part of the problem is the used C7 market. A number of folks are opting for a used C7 instead of new. I'd bet the total number of C7 sales is close to 2015 numbers.

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Old 05-17-2017, 07:44 PM   #20
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Originally Posted by roadbike56 View Post
Local Corvette dealer sent me a letter with an incredible trade-in offer for my 2014. Not sure what they'd do with the new 2017 price. Problem is, I really like the 2014 and can't afford a new Z06 (just wrote the check for a wedding reception). I don't see the percentage in buying a new base, Z51 or GS since the power would be the same. I guess I'm not alone with this a decision to stay with the current Corvette.
Do they want mine? I want to upgrade to a GS
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