What can GM do to get more younger/millenial buyers to buy Corvettes?
11-20-2017, 11:52 AM
#61
Burning Brakes
In addition to the C7, I have a Lexus GS350. If I had to choose between the two, the C7 loses. The Lexus is obviously more practical, but to me it's also a very, very enjoyable car to drive. It's my cross-country choice (3 times so far). I debated driving the C7 across last August but opted for the Lexus. After experiencing some of the roads, especially east of Okla, I knew I made the correct choice.
Don't get me wrong, I very much like and appreciate the C7, and plan to keep it a long time but it has its limitations (to me).
BTW I went looking for a new GS350, since they reintroduced the Smoky Granite Mica color. They wouldn't deal, and I walked.
Don't get me wrong, I very much like and appreciate the C7, and plan to keep it a long time but it has its limitations (to me).
BTW I went looking for a new GS350, since they reintroduced the Smoky Granite Mica color. They wouldn't deal, and I walked.
11-20-2017, 12:04 PM
#62
Younger people tend to invest in experiences, it starts with cell phones, gaming, causes....as they get into their 30's-40's it the experiences turn to destinations (lake houses, RVing) travel - again experiences. For Corvette to survive the experience has to be (1) popular (peer acceptance) (2) obtainable (priced competitively) (3) desirable (if electric is in then only offering fossil power will be a killer).
I was amazed when I ordered my new GS that a KIA has more technology than my new Vette - this must be addressed...
Other threats have been mentioned - self driving cars - new ownership models where you simply are a member of a pool of cars, etc Younger folks like convenience.
The most puzzling part is that more and more younger folks just simple don't want to work (jobs are plentiful - just look online).
Corvette has to figure out how to start the romance with a new generation.
Its not just a Corvette/Cadillac/Porsche thing - go check out General Aviation - who was the last "new"pilot you met that owned their own airplane?
Peace,
Don
I was amazed when I ordered my new GS that a KIA has more technology than my new Vette - this must be addressed...
Other threats have been mentioned - self driving cars - new ownership models where you simply are a member of a pool of cars, etc Younger folks like convenience.
The most puzzling part is that more and more younger folks just simple don't want to work (jobs are plentiful - just look online).
Corvette has to figure out how to start the romance with a new generation.
Its not just a Corvette/Cadillac/Porsche thing - go check out General Aviation - who was the last "new"pilot you met that owned their own airplane?
Peace,
Don
11-20-2017, 12:12 PM
#63
Team Owner
With the way city traffic has come to a complete stall week in and week out, it would take the average millennial over 1 hour to get from where they live to where they can actually use the car as designed, then another 1 hour back.
Nothing GM, or sales and marketing can alter this new reality.
Nothing GM, or sales and marketing can alter this new reality.
3.00 bucks each way. To more wide open spaces! It was great move.
The average kids growing up don't have the money. It takes a good job and they are getting fewer and far between. Jobs where you can work 40 years make 6 figures and be secure are not around anymore.
11-20-2017, 12:12 PM
#64
Le Mans Master
You are correct.
Plenty of youngsters in hot hatches and Mustangs...although to my eye WRX's, Golfs, Focus GTs, and modified "rice burners" seem to be the cars of choice. Was a bit sarcastic in my previous post. However, they do need to keep their eyes more on the road than their "cells". Failing that, the autonomous car may actually be safer for all concerned.
Plenty of youngsters in hot hatches and Mustangs...although to my eye WRX's, Golfs, Focus GTs, and modified "rice burners" seem to be the cars of choice. Was a bit sarcastic in my previous post. However, they do need to keep their eyes more on the road than their "cells". Failing that, the autonomous car may actually be safer for all concerned.
BRZ
WRX
WRX
Golf R
I am 46. The reason people buy and love WRX/STI/Golf R is because they have very usable backseats and AWD. You can drive them year round and they barely depreciate. I drove my WRX's for 18 months each and sold both of them for within $1200 (each) of what I paid for them. They just make a lot of sense, and with some aftermarket parts can be a blast to drive on any road or the track.
The C7 is in a whole different league performance wise, but now I have to own two cars to haul people when I need more than 2 seats, and I don't drive it year round..
We won't even talk depreciation
I love my C7, but it's a toy and most people that have the disposable income to afford a toy typically are well into their 50's and beyond.
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11-20-2017, 12:14 PM
#65
Safety Car
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I never heard the phrase corvettes are an old man's car until I joined the Forum looking to buy my 1st Corvette at 57 yrs old.
Number 1 reason it took me so long to finally get one is Money.
For most people, how practical is buying a Corvette, even if they can afford it, and want it.
A 2 seat, low to the ground, High HP car as a daily driver.
Most Corvette owners have a DD driver besides a Corvette for numerous reasons.
Which comes back to money, being able to afford 2 vehicles just for their own use.
As already mentioned, GM does Not advertise the Corvette like the other Performance cars out there today.
Even if they did, and more people wanted to buy one, it's debatable how many would like it after they bought it.
IMO the C7 is the best Sports car for Performance and room for Touring with luggage all in one.
But on this Forum alone I see "new" to Corvette owners complain their $75,000 car does not have all the bells and whistles like their DD for half the money.
No Blind spot warning, no heated steering wheel, only one cup holder, .. and Oh My, the noisy Summer Only tires, etc etc.
They're expecting all these things by comparison, for the money paid.
IMO, C7 Corvette has broken a lot of ground attracting new Customers.
But like the old saying, you can lead a horse to water but ...
No matter how you analyze it, the majority of people buying Corvettes, know Corvettes and understand what they are.
Either you want one or you don't.
For better or worse from a business stand point, that's why some Dealers do not offer test drives.
They don't want to waste their time with tire kickers.
YMMV
Number 1 reason it took me so long to finally get one is Money.
For most people, how practical is buying a Corvette, even if they can afford it, and want it.
A 2 seat, low to the ground, High HP car as a daily driver.
Most Corvette owners have a DD driver besides a Corvette for numerous reasons.
Which comes back to money, being able to afford 2 vehicles just for their own use.
As already mentioned, GM does Not advertise the Corvette like the other Performance cars out there today.
Even if they did, and more people wanted to buy one, it's debatable how many would like it after they bought it.
IMO the C7 is the best Sports car for Performance and room for Touring with luggage all in one.
But on this Forum alone I see "new" to Corvette owners complain their $75,000 car does not have all the bells and whistles like their DD for half the money.
No Blind spot warning, no heated steering wheel, only one cup holder, .. and Oh My, the noisy Summer Only tires, etc etc.
They're expecting all these things by comparison, for the money paid.
IMO, C7 Corvette has broken a lot of ground attracting new Customers.
But like the old saying, you can lead a horse to water but ...
No matter how you analyze it, the majority of people buying Corvettes, know Corvettes and understand what they are.
Either you want one or you don't.
For better or worse from a business stand point, that's why some Dealers do not offer test drives.
They don't want to waste their time with tire kickers.
YMMV
Last edited by Dif; 11-20-2017 at 12:19 PM.
11-20-2017, 12:27 PM
#66
Team Owner
Exactly, My last 4 cars prior to the Vette:
BRZ
WRX
WRX
Golf R
I am 46. The reason people buy and love WRX/STI/Golf R is because they have very usable backseats and AWD. You can drive them year round and they barely depreciate. I drove my WRX's for 18 months each and sold both of them for within $1200 (each) of what I paid for them. They just make a lot of sense, and with some aftermarket parts can be a blast to drive on any road or the track.
The C7 is in a whole different league performance wise, but now I have to own two cars to haul people when I need more than 2 seats, and I don't drive it year round..
We won't even talk depreciation
I love my C7, but it's a toy and most people that have the disposable income to afford a toy typically are well into their 50's and beyond.
BRZ
WRX
WRX
Golf R
I am 46. The reason people buy and love WRX/STI/Golf R is because they have very usable backseats and AWD. You can drive them year round and they barely depreciate. I drove my WRX's for 18 months each and sold both of them for within $1200 (each) of what I paid for them. They just make a lot of sense, and with some aftermarket parts can be a blast to drive on any road or the track.
The C7 is in a whole different league performance wise, but now I have to own two cars to haul people when I need more than 2 seats, and I don't drive it year round..
We won't even talk depreciation
I love my C7, but it's a toy and most people that have the disposable income to afford a toy typically are well into their 50's and beyond.
11-20-2017, 12:56 PM
#68
Le Mans Master
GM (and most every other auto maker) are in the same boat. Young people think of cars the same way they do appliances. As long as they get them from point A to point B that's all they care about.
It's also the reason Nascar is dying.
It's also the reason Nascar is dying.
11-20-2017, 01:12 PM
#69
Melting Slicks
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51 percent on a 3 year 7500 miles a year lease. Better than a M5 or E63 from what I understand. But if cost wasnt an issue of course id get the m5 over the GS-F.
11-20-2017, 01:56 PM
#71
Safety Car
[QUOTE=witch hunt;1596007586]
I agree 100%!
What can or should General Motors do to market this amazing machine in a way where more late 20, early 30s buyers would consider it?
Ah, they'll come around and buy them eventually, just give them 20-25 years or so.
Seriously, the majority target market for new Corvettes is and has always been car enthusiastic older guys with extra money to spend. It really doesn't matter if the customer with the $65,000 is 30 or 60 years old, it's never going to be a mainstream or trendy vehicle---and who wants it to be? Much of our enjoyment comes from not seeing one at every red light or on every highway.
Ah, they'll come around and buy them eventually, just give them 20-25 years or so.
Seriously, the majority target market for new Corvettes is and has always been car enthusiastic older guys with extra money to spend. It really doesn't matter if the customer with the $65,000 is 30 or 60 years old, it's never going to be a mainstream or trendy vehicle---and who wants it to be? Much of our enjoyment comes from not seeing one at every red light or on every highway.
11-20-2017, 02:10 PM
#72
Team Owner
Member Since: Sep 2001
Location: Athens AL
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C7 of the Year - Unmodified Finalist 2021
C4 of Year Finalist (performance mods) 2019
I'm 36, I'd have a new one already if I had more income, but I'll finally be able to buy a new one next year. For me it has always been the price, and needing a house/garage to put it in. I refuse to put another one outside.
A lot of people my age lease expensive Audis and Mercs because they want a super nice car without the depreciation and other nonsense, but rarely can they really afford such a car. They kill themselves with the lease payments.
A lot of people my age lease expensive Audis and Mercs because they want a super nice car without the depreciation and other nonsense, but rarely can they really afford such a car. They kill themselves with the lease payments.
11-20-2017, 02:14 PM
#73
Melting Slicks
All leases are based off of 15k. You add or deduct from the residual depending on mileage.
I'd argue it's almost entirely 3. MSRP to Selling Price differential is considered cash down (and the same as bringing money to the table or an employee discount), and honestly money factor on a lease is negligible in my experience ($500 over the ENTIRE cost of a 3 year lease is minimal).
Run a lease at .00001 and .00300 and tell me where thats $500 on Kia let alone on a Vette. That’s THOUSANDS plural. If the MF isnt subvented by the manufacturer the lease payment is stupid.
Last edited by Steve Garrett; 11-21-2017 at 10:29 PM. Reason: Merged Posts-Please use the Multi-Quote button (the middle icon) in the lower right hand corner to make your responses look like this!
11-20-2017, 03:04 PM
#74
Heel & Toe
As a “millennial” I find this topic very interesting. I do not fit the norm of the majority of the comments in this thread indicate. I am 31 and own a home, graduated college, own a C6 GS and a Caliber SRT4. I have been a car guy since I was old enough to know what a car was. The biggest issue is practicality. If I did not have a hatchback for daily use, owning a vette would be rather difficult.
I love my dog but can’t fit her and the fiancé in the vette at the same time. Most millennials are animal lovers and take them everywhere. If I take the dog in the vette, then the significant other stays home.
Kids are another issue. Unless you have the ability to own multiple vehicles, having a two seat sports car is fairly impractical. If you plan on having kids in the short future, buying a car that loses 30-40% of its value within 3 years is not a smart move. Hints why I bought mine used.
Insurance for me is not an issue as mine is only $79 a month for full coverage but that’s due to multiple discounts on my policy including zero tickets and zero accidents. But seeing some of friends driving records, they would never be able to afford the payment.
I feel for the person mentioning the lack of the ability to test drive the vehicle as a reason. Some people have no clue what they are missing. A friend of mine was considering a new c7 and after a quick ride in mine, purchased it within the week. Let the sales person take them for a spin and “Hit the gas a little.” He purchased a brand new c7 grand sport Collector edition after one ride and he's 35. BTW who do I ask for the sales commission?
Overall their marketing for the corvette is weak. Yes the corvette does sell itself and they do sell all that they make but what if they were to let people see what this car can do? You never see corvettes in the ride and drive section at car shows in GA. Even a ride along can change people’s minds. I don’t even get approached by a sales person when looking at them. I wish they would stop assuming people can’t afford a car based on appearance or age.
I love my dog but can’t fit her and the fiancé in the vette at the same time. Most millennials are animal lovers and take them everywhere. If I take the dog in the vette, then the significant other stays home.
Kids are another issue. Unless you have the ability to own multiple vehicles, having a two seat sports car is fairly impractical. If you plan on having kids in the short future, buying a car that loses 30-40% of its value within 3 years is not a smart move. Hints why I bought mine used.
Insurance for me is not an issue as mine is only $79 a month for full coverage but that’s due to multiple discounts on my policy including zero tickets and zero accidents. But seeing some of friends driving records, they would never be able to afford the payment.
I feel for the person mentioning the lack of the ability to test drive the vehicle as a reason. Some people have no clue what they are missing. A friend of mine was considering a new c7 and after a quick ride in mine, purchased it within the week. Let the sales person take them for a spin and “Hit the gas a little.” He purchased a brand new c7 grand sport Collector edition after one ride and he's 35. BTW who do I ask for the sales commission?
Overall their marketing for the corvette is weak. Yes the corvette does sell itself and they do sell all that they make but what if they were to let people see what this car can do? You never see corvettes in the ride and drive section at car shows in GA. Even a ride along can change people’s minds. I don’t even get approached by a sales person when looking at them. I wish they would stop assuming people can’t afford a car based on appearance or age.
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11-20-2017, 03:06 PM
#75
I am a Sales Manager for one of the top Lexus dealers in the world. Over the last few years we had come to the conclusion that the vast majority of our buyers (the ES, the LS, etc owners) were fairly senior people who possibly wont be driving very soon. If we didn't try to target the younger market we might very well end up like Buick or Cadillac where the vast majority of their buyers simply passed away and their children weren't interested in those cars. So over the last few years the company has been trying hard to capture the younger clientele but it will take a while and many of those buyers are now loyal to Bmw, Audi, Mercedes or Infiniti.
At 34 I'm definitely not the typical Corvette buyer. There is no doubt the Corvette even as a base 1lt automatic is a amazingly fun car to buy, maintain without spending an arm and a leg and get very good resale value. I appraise cars all the time the only two American cars that hold exceptional resale value in my opinion are Jeep Wranglers and Corvettes.
What can or should General Motors do to market this amazing machine in a way where more late 20, early 30s buyers would consider it?
The biggest flaw I find is they need to have good factory lease programs. A lot of the high end car market shoppers are leasers who look at MSRP and monthly payments only. They want the car with the highest MSRP at the lowest monthly payment. They get turned off when they find out leasing a Grand Sport that has an MSRP of 79k costs MORE than leasing a $110k Mercedes Benz S class (and the Benz comes with MUCH BETTER customer service and lifetime free car washes when the Vette owner gets treated at the dealer the same as the guy who has an Aveo or a Cruz). Where else do you think GM can do better to market the younger crowd so their iconic car doesn't die eventually?
At 34 I'm definitely not the typical Corvette buyer. There is no doubt the Corvette even as a base 1lt automatic is a amazingly fun car to buy, maintain without spending an arm and a leg and get very good resale value. I appraise cars all the time the only two American cars that hold exceptional resale value in my opinion are Jeep Wranglers and Corvettes.
What can or should General Motors do to market this amazing machine in a way where more late 20, early 30s buyers would consider it?
The biggest flaw I find is they need to have good factory lease programs. A lot of the high end car market shoppers are leasers who look at MSRP and monthly payments only. They want the car with the highest MSRP at the lowest monthly payment. They get turned off when they find out leasing a Grand Sport that has an MSRP of 79k costs MORE than leasing a $110k Mercedes Benz S class (and the Benz comes with MUCH BETTER customer service and lifetime free car washes when the Vette owner gets treated at the dealer the same as the guy who has an Aveo or a Cruz). Where else do you think GM can do better to market the younger crowd so their iconic car doesn't die eventually?
GM does not know who the Vette is for. Corvette needs to be its own brand (even if it's at the same dealership). Young successful individuals think BMW, Mercedes and Porsche, not Chevy Corvette.
11-20-2017, 03:15 PM
#76
Intermediate
Being a 22 yr old and recently just buying a 2014 c7 z51 3LT , (which i absolutely love) most of you are right. I know i'm young, but when i was younger i already had a love for cars, especially a strong passion for Chevy vehicles since that was all my father owned. So i just knew i had to have one. The most difficult thing i had to deal with were the crazy quotes i was getting from insurance companies, understandable of course because of my age but still rape nonetheless lol. I ended up going under my parents insurance which isn't too bad but I do agree that my generation is lazy and that they cant save money for squat, i worked hard and still work hard for my car (full time job & school) but that is because i always wanted one. All my friends love the car and would like one, if not something similar. I just think millennials are terrible when it comes to managing their money and they don't want to work hard for it, or spend it on something else. Obviously not everyone is a dumba** but just my .02 cents
11-20-2017, 03:16 PM
#77
I have always oenwed German or Japanese cars & I just got my first American/Sports car, a C7 corvette, a couple of weeks ago. I am 33, so not exactly in my 20's, but not in my 50's either, which seems to be the age group that most corvette buyers are.
What did the trick for me is the in cabin tech & the amazing performance that came with the C7 series. The looks are great and doesnt look like an old mans car.
Having good lease deals will definately help! But keep the car updated as far as tech is concerned & I think you'll attract younger buyers.
What did the trick for me is the in cabin tech & the amazing performance that came with the C7 series. The looks are great and doesnt look like an old mans car.
Having good lease deals will definately help! But keep the car updated as far as tech is concerned & I think you'll attract younger buyers.
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11-20-2017, 03:22 PM
#78
Drifting
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What GM can do is build the best cars possible! Many millennials are attracted to reliability and value. They do not have the same allegiance to domestic brands that previous generations do.
Last edited by Chris Edwards; 11-20-2017 at 08:31 PM.
11-20-2017, 03:40 PM
#80
Instructor
hey I like chrome, I may have snow on the roof but I still have fire in the stove lolol. One reason nascar is dying is because these new drivers no one can relate to them! Take Dale SR or Petty back in the day those guys was average guys that went on and was successful and the avg folks pulled for them because they was one of them! When nascar tried to start being cool and attract the younger crowds it is falling fast and dale jr was the last driver people could somewhat have in common.
I agree win on Sunday buy on Monday does not work with younger crowd! I do not see 20 year olds buying what they are running on the track in nascar! The only way nascar will appeal to younger crowd is to do away with current cars, bring in tuner cars like a Subaru that has technology like formula 1! big v-8 engines do not appeal to them!
I look at a vette like my Harley fatboy, it is a tradition, they may lake in app features or some technology but that is not the point, the point is man and machine and freedom
I agree win on Sunday buy on Monday does not work with younger crowd! I do not see 20 year olds buying what they are running on the track in nascar! The only way nascar will appeal to younger crowd is to do away with current cars, bring in tuner cars like a Subaru that has technology like formula 1! big v-8 engines do not appeal to them!
I look at a vette like my Harley fatboy, it is a tradition, they may lake in app features or some technology but that is not the point, the point is man and machine and freedom