Who is it for?
#21
Pro
This is exactly why older people buy vehicles like Corvette, Ferrari, Porsche, and the list goes on. Not that we are wealthy people, but having the kids out of college is like getting a major raise in salary and that can not only facilitate the purchase but substantiate it.
#22
The car is for ME! A younger person who does well financially and doesn't want an old man car! But on a serious note, look at the Ford GT. It has stupid amounts of demand and had a whole application process. It also costs 2-3x more than the ME vette will probably be. There is clearly a market for people who want a mid engine American car. Maybe it isn't you but there are plenty of people who would love one.
ALSO, there are a lot of leaks showing that they will first have a base model and it will be in the $70k range. You citing $100k is a pure guess based on nothing.
ALSO, there are a lot of leaks showing that they will first have a base model and it will be in the $70k range. You citing $100k is a pure guess based on nothing.
#23
Melting Slicks
I said ".....they have to know from the ZR1 and Z06 sales volume, prices can't start at $100,000 or it won't be very successful in terms of unit sales."
The $100,000 I was not the ME but prior ZR1/Z06 models that relatively few were sold. I don't have the exact number produced, but is wasn't many.
So, my point is (and I should have stated that more clearly) the base price of the ME has to be low. It can be much higher than the current C7....or they won't sell enough to recoup development costs and turn a profit.
I've been CFO of multiple public companies and believe me, GM has to sell more of the ME year to recover its unique development cost and still make a profit. Not 1,000 or 2,000 or 5,000 a year. But 15,000 to 25,000 units. More is better, too! And GM can do that if it is PRICED RIGHT.
Lastly, I also heard from a dealer, the base price will be about $65,000 which makes sense to me.
#24
Le Mans Master
The car is for ME! A younger person who does well financially and doesn't want an old man car! But on a serious note, look at the Ford GT. It has stupid amounts of demand and had a whole application process. It also costs 2-3x more than the ME vette will probably be. There is clearly a market for people who want a mid engine American car. Maybe it isn't you but there are plenty of people who would love one.
ALSO, there are a lot of leaks showing that they will first have a base model and it will be in the $70k range. You citing $100k is a pure guess based on nothing.
ALSO, there are a lot of leaks showing that they will first have a base model and it will be in the $70k range. You citing $100k is a pure guess based on nothing.
As far as the demand for a ME Corvette, I don't know. There will definitely be some, but will it be enough to support the badge? The Ford GT is not exactly an apples to apples comparison. They are only making a handful, everyone knows this. Many were clamoring to get one because of the history of the last GT and it's market value now. For many trying to buy the car, it's placing a bet. Put down $400K today and double you money in 10 years, worse case is you'll get your money back and have owned the car for those 10 years. But it's a completely different ballgame with the GT.
Last edited by lt4obsesses; 04-24-2018 at 04:56 AM.
#25
Race Director
Corvettes barely cost more than loaded Chevy Tahoe s which people buy all the time.
Cars cost more than they did in the sixties.
They take up more of an individuals disposable income.
The cars last longer and don't break down as often.
I'd say it's a fair trade off.
Think about that when thinking who the new corvette c8 or even c7 is designed for.
Cars cost more than they did in the sixties.
They take up more of an individuals disposable income.
The cars last longer and don't break down as often.
I'd say it's a fair trade off.
Think about that when thinking who the new corvette c8 or even c7 is designed for.
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VETTE-NV (04-24-2018)
#26
Melting Slicks
Young people buy used c6s and c7s. My first corvette I bought when I was 28 now being 39 the c8 will be my fourth. Just because you can’t go out and buy something brand new doesn’t mean Chevy is making a mistake. Both the c6 and c7 were successes and the c8 will be one too. The viper is easily 40k more than the c8 will be and more track focused too.
#27
Melting Slicks
Sorry, you mis-understood my point.
I said ".....they have to know from the ZR1 and Z06 sales volume, prices can't start at $100,000 or it won't be very successful in terms of unit sales."
The $100,000 I was not the ME but prior ZR1/Z06 models that relatively few were sold. I don't have the exact number produced, but is wasn't many.
So, my point is (and I should have stated that more clearly) the base price of the ME has to be low. It can be much higher than the current C7....or they won't sell enough to recoup development costs and turn a profit.
I've been CFO of multiple public companies and believe me, GM has to sell more of the ME year to recover its unique development cost and still make a profit. Not 1,000 or 2,000 or 5,000 a year. But 15,000 to 25,000 units. More is better, too! And GM can do that if it is PRICED RIGHT.
Lastly, I also heard from a dealer, the base price will be about $65,000 which makes sense to me.
I said ".....they have to know from the ZR1 and Z06 sales volume, prices can't start at $100,000 or it won't be very successful in terms of unit sales."
The $100,000 I was not the ME but prior ZR1/Z06 models that relatively few were sold. I don't have the exact number produced, but is wasn't many.
So, my point is (and I should have stated that more clearly) the base price of the ME has to be low. It can be much higher than the current C7....or they won't sell enough to recoup development costs and turn a profit.
I've been CFO of multiple public companies and believe me, GM has to sell more of the ME year to recover its unique development cost and still make a profit. Not 1,000 or 2,000 or 5,000 a year. But 15,000 to 25,000 units. More is better, too! And GM can do that if it is PRICED RIGHT.
Lastly, I also heard from a dealer, the base price will be about $65,000 which makes sense to me.
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JerriVette (04-24-2018)
#28
In terms of age and ability to buy a Corvette, you are the exception to rule. No one is saying that younger people don't want one, it's just a question on purchasing power and priorities. There are many out there though, in their late thirties and early forties, that own Corvettes because they can, but it is their only car.
As far as the demand for a ME Corvette, I don't know. There will definitely be some, but will it be enough to support the badge? The Ford GT is not exactly an apples to apples comparison. They are only making a handful, everyone knows this. Many were clamoring to get one because of the history of the last GT and it's market value now. For many trying to buy the car, it's placing a bet. Put down $400K today and double you money in 10 years, worse case is you'll get your money back and have owned the car for those 10 years. But it's a completely different ballgame with the GT.
As far as the demand for a ME Corvette, I don't know. There will definitely be some, but will it be enough to support the badge? The Ford GT is not exactly an apples to apples comparison. They are only making a handful, everyone knows this. Many were clamoring to get one because of the history of the last GT and it's market value now. For many trying to buy the car, it's placing a bet. Put down $400K today and double you money in 10 years, worse case is you'll get your money back and have owned the car for those 10 years. But it's a completely different ballgame with the GT.
Ya that is the one thing. I know the GT was limited production but I still think there is enough demand for the GT to show that people want an American Mid Engine car. Either way, who really cares because there are clearly plenty of people on this forum alone who want the car lol.
#29
Instructor
I'm a 35 year old Corvette owner. I started with a 2008 C6, but ended up with a C5 because for some reason I just gelled better with it. I also own a 2014 Porsche Cayman S. I should be in the meat of their target age group. The problem Corvette needs to overcome in my eyes is the last 5% of QC and design. The C7 was the most solid and well put together Corvette I've driven. The interior is several steps up and the drivetrains are amazing. If you have ever driven a Porsche they have a vibe to them. The weight and feel of the controls, interior finishes, and overall construction are exceptional. If Corvette wants to play in the $100k+ base price club they need to have that level of polish that will silence any haters. That being said, if they can deliver an NA 500HP V8 DCT car with great handling and sound to me for $75k, I'll happily ditch my Porsche and get into a new Vette. I'd love to get a GT3 someday, but I have a feeling this new Corvette is going to spank it for half of the price. So I guess GM is on the right track, because if this car gives me the feels I'm looking for I'll buy it. I'll never get rid of my C5 though.
#30
The other difference I see today vs say back in the 60's when it comes to Corvette ownership, back in the 60's many more people bought them as their everyday car. I did, my first Corvette was a used '66 and my everyday and only car. Today most buyers who buy a Corvette own another vehicle for everyday use but now with the added cost of having to insure 2 cars, maintenance etc. So for many folks a Corvette has become more of a (expensive) hobby, like for car shows, racing and so forth.
Last edited by Redc8z06; 04-24-2018 at 04:24 PM.
#31
Burning Brakes
The Corvette has always been a baby boomer's car. The idea came from the troops coming home from WWII who got a taste of cars like Alpha Romeo, Triumph, and MG. As these cars were getting imported, GM saw a market developing and created the Corvette. Geared towards the young twenty-somethings of the day. As those twenty somethings became thirty somethings, their taste for performance grew as did their buying power. In order to keep them from going elsewhere to satisfy that need for speed, the Corvette followed suit. It has always followed the current desires of the baby boomers. Always keeping up with the Europeans at a relative bargain price vs the competition. The Corvette has always followed their desire for performance and sophistication, and purchasing power.
So here we are, the Corvette has become faster, then more sophisticated, then more comfortable, more expensive, but always within reach of the current median status of the baby boomers.
However, slowly and surely, time is catching up with that generation and the physical ability to enjoy a sports car is fading away, generally speaking. GM is trying to look to the future, but alas, they have painted themselves in a corner. They can't make the car cheaper, no one wants to see it go backwards. Yet, a great percentage of today's 30, and 40 somethings, let alone 20 somethings, find the Corvette well out of reach.
So is GM reaching out for a new brand of customer? Are they going after the more affluent drivers of higher end European cars? Will they be able to pull this off? That is the big question. Will they be able to draw these people away from the Ferrari's and Lambo's? Perhaps, but I think to do that, they will have to turn their back on the idea of the Corvette being a "working man's" supercar. They will have to make it a very, very refined machine, much more so than it is now, and that won't be cheap. Not only will the new Corvette need to be refined, but it will need some level of exclusivity, because at the end of the day, that is one of the main attractions of a car like Ferrari, wealthy people buy them because they can.
The good news is that I believe GM is smarter than that. They will do what they've always done, and that is produce a great performance car at a somewhat reasonable price. As the C7 started to bring a new perception to the Corvette, it will continue to change to an image that will appeal more to today's 50 somethings that are now getting to that place where a $60K toy is attainable, and will move up the option chart for the next 15 to twenty years. The Corvette demographic will always be the 50 plus crowd out of necessity, because generally speaking, they will be the only ones that can buy it.
So here we are, the Corvette has become faster, then more sophisticated, then more comfortable, more expensive, but always within reach of the current median status of the baby boomers.
However, slowly and surely, time is catching up with that generation and the physical ability to enjoy a sports car is fading away, generally speaking. GM is trying to look to the future, but alas, they have painted themselves in a corner. They can't make the car cheaper, no one wants to see it go backwards. Yet, a great percentage of today's 30, and 40 somethings, let alone 20 somethings, find the Corvette well out of reach.
So is GM reaching out for a new brand of customer? Are they going after the more affluent drivers of higher end European cars? Will they be able to pull this off? That is the big question. Will they be able to draw these people away from the Ferrari's and Lambo's? Perhaps, but I think to do that, they will have to turn their back on the idea of the Corvette being a "working man's" supercar. They will have to make it a very, very refined machine, much more so than it is now, and that won't be cheap. Not only will the new Corvette need to be refined, but it will need some level of exclusivity, because at the end of the day, that is one of the main attractions of a car like Ferrari, wealthy people buy them because they can.
The good news is that I believe GM is smarter than that. They will do what they've always done, and that is produce a great performance car at a somewhat reasonable price. As the C7 started to bring a new perception to the Corvette, it will continue to change to an image that will appeal more to today's 50 somethings that are now getting to that place where a $60K toy is attainable, and will move up the option chart for the next 15 to twenty years. The Corvette demographic will always be the 50 plus crowd out of necessity, because generally speaking, they will be the only ones that can buy it.
#32
Burning Brakes
I'm a 35 year old Corvette owner. I started with a 2008 C6, but ended up with a C5 because for some reason I just gelled better with it. I also own a 2014 Porsche Cayman S. I should be in the meat of their target age group. The problem Corvette needs to overcome in my eyes is the last 5% of QC and design. The C7 was the most solid and well put together Corvette I've driven. The interior is several steps up and the drivetrains are amazing. If you have ever driven a Porsche they have a vibe to them. The weight and feel of the controls, interior finishes, and overall construction are exceptional. If Corvette wants to play in the $100k+ base price club they need to have that level of polish that will silence any haters. That being said, if they can deliver an NA 500HP V8 DCT car with great handling and sound to me for $75k, I'll happily ditch my Porsche and get into a new Vette. I'd love to get a GT3 someday, but I have a feeling this new Corvette is going to spank it for half of the price. So I guess GM is on the right track, because if this car gives me the feels I'm looking for I'll buy it. I'll never get rid of my C5 though.
AMEN, Brother....and that NA LT1+ can be easily modified to put out 600-700 HP by Callaway, Lingenfelter and others for less than $10K. Usable horsepower because it is a mid-engine, and the DCT will already be built to handle it. Try that trick in a Porsche !! It will really put a dent in the market prospects of anything selling for more than $100K.
#33
Race Director
Interesting question. As a long time owner (over 30 years and 25+ Corvettes) I posted the C&D photos on my facebook page. The responses I got were shocking from owners and non owners. The general consensuses was the car has now deviated so far from its original 1953 roots that it really should not be called a Corvette any longer. Most everyone liked the C&D design but said that's just not a Corvette in there eyes. This is going to be a big hurdle for GM to overcome once all the hype goes away. The Corvette is kind of an icmpractical daily driver but for many its not an issue. The M/E design in my mind makes this car more of a toy and not a daily driver.
TVs have advanced
Phones have advanced
Air travel advanced
Cars have advanced
The year is 2018. Not 1953.