C8 Production start Date End of C7 FE Production
09-01-2018, 12:38 PM
#21
Le Mans Master
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Deja vu. New body style comes out, everyone trades in their previous body style. Market becomes saturated with previous body style examples. Price for the previous body style goes down. Classic supply and demand. Happened before, it will happen again. Not rocket science. Every time I’ve traded in my previous body style Corvette for the new body style, I get less than what I paid for it. It’s expected. The key is to work down the price of the new body style, hopefully at least 10% off MSRP. And don’t be afraid to get up and walk away (assuming the dealer has your contact information). Amazing how I’ve always seemed to get a call around the end of the month from the dealer saying they’ll accept my offer.
09-01-2018, 01:01 PM
#22
Drifting
Ditto... Can't see paying 2x for a mid engine "toy". If that's what I wanted I'd have bought something really exotic.
If this story comes to fruition, my current 2016 Laguna Blue C7 Z06 M7; my dream car; will be my last Corvette, especially since I'm 64 and retired. I'm just not a fan of the Mid Engine, DCT transmission Corvette. I had been thinking of trading my car for a 2019 Elkhart Lake Blue ZR1 M7, but that's probably not happening now, as they will not be discounting them and will be very hard to get before they stop making them in Aug. 2019.
09-01-2018, 05:06 PM
#23
16 Vettes and counting…..
If this story comes to fruition, my current 2016 Laguna Blue C7 Z06 M7; my dream car; will be my last Corvette, especially since I'm 64 and retired. I'm just not a fan of the Mid Engine, DCT transmission Corvette. I had been thinking of trading my car for a 2019 Elkhart Lake Blue ZR1 M7, but that's probably not happening now, as they will not be discounting them and will be very hard to get before they stop making them in Aug. 2019.
09-01-2018, 05:34 PM
#24
16 Vettes and counting…..
Perhaps, but I don't think it will be as dire a picture as you'd like to paint. If there will no longer be a FE Corvette, then the C7 will be the last of its kind, a fact which puts its in a different position than a C6 or C5, or any other previous generation that was replaced. The C7 is not being replaced by an evolutionary version of itself. It's being replaced by a completely different animal which may or may not have the mass appeal of the previous car. My guess is that the C8 (ME) will be a huge success and sell 30K units per year if priced appropriately. I do think that many of those 30K units will be purchased by first time Corvette buyers and many FE Corvette diehards will turn away. I believe the C7 ZR1 will eventually become a highly sought after collectible, and that the rest of the C7's will depreciate a bit less than the typical decline of previous generations. If there will be a new FE car, then the C7 will not be the end of an era and it will depreciate as much as previous gens. I don't think that's going to happen, though.
Will the C7 take a hit? Of course.....it already has...... but it's not suddenly going to be worth nothing, relatively speaking. That makes about a much sense as saying the C8 will start at $100K. Doesn't matter to me....I'm keeping my C7. Best Corvette I've ever had. Whether I buy a ME C8 or actually jump to something truly exotic remains to be seen, but my only issue at this point is that I need a bigger boat (garage).
09-01-2018, 06:29 PM
#25
Safety Car
Many C7’s will have something unique which help them keep their value to 22% who “need” a manual transmission. So even five years from now, for the 22% many will look for an excellently kept C7 with the 7M.
Second, for at least 2020, some Corvette HP lovers are going to be able to get their fix with a great condition, lightly used C7 Z06 — either manual or automatic from those owners who open market or trade in sell it to get their 2020 ME.
I totally agree with VETTE-NV’s reasons on why this is a unique time in past-gneration Corvette values. Many of us survived the past generational transition (financially), and I believe we are going to for his reasons and the two above, we are going to have less of a hit this time around.
Second, for at least 2020, some Corvette HP lovers are going to be able to get their fix with a great condition, lightly used C7 Z06 — either manual or automatic from those owners who open market or trade in sell it to get their 2020 ME.
I totally agree with VETTE-NV’s reasons on why this is a unique time in past-gneration Corvette values. Many of us survived the past generational transition (financially), and I believe we are going to for his reasons and the two above, we are going to have less of a hit this time around.
Last edited by elegant; 09-01-2018 at 06:30 PM.
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VETTE-NV (09-01-2018)
09-01-2018, 06:32 PM
#26
Safety Car
As to th Op’s question, I am of the opinion that they will start customer ME’s before the article suggests. PM me for more details if you wish.
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fasttoys (09-01-2018)
09-01-2018, 07:02 PM
#28
I purchased my C7 conv to drive and enjoy. A 2016 thats over three years old and just about paid off. Still looks and drives fantastic. I dont care about resale value, cars devalue period. If want an investment try your hand on the stock market. Myself im a ragtop gent , dont care for mid engine half azz converts. As far as the C8, Im interested as a +1. Keeping my C7 with tasteful mods for the long haul.
09-01-2018, 09:41 PM
#29
Just out from Corvette Blogger. Will be interesting to see what happens to the value of C7 Z06/ZR1 FE after the C8 comes out and they are no longer making FE corvettes, or manual transmission's. Kinda of sad in my mind.
http://www.corvetteblogger.com/2018/...erm=2018-08-31
http://www.corvetteblogger.com/2018/...erm=2018-08-31
09-01-2018, 10:27 PM
#30
Safety Car
Don't forget recent history. When the C7 came out in 2014 it actually increased the resale values of the C6s. The new C7s were all going at MSRP plus dealer pack so it pulled up the prices of C6s, particularly GS, Z06 and ZR1s as those options were not available in 2014. Now you may see a hit to C7 prices in 2021 but not in 2020.
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pdiddy972 (09-02-2018)
09-02-2018, 01:01 AM
#31
Race Director
WHAT!!!! The FE won't be carried over during ME production........Gotta be a ton of members in here that are drinking their sorrow away right now.........hahahaba, didn't even need the article. In terms of GMs profit point needs and production level, there is only one Corvette configuration coming in late 2019.....We have all seen them. They are MID ENGINE.
09-02-2018, 02:55 AM
#32
Many C7’s will have something unique which help them keep their value to 22% who “need” a manual transmission. So even five years from now, for the 22% many will look for an excellently kept C7 with the 7M.
Second, for at least 2020, some Corvette HP lovers are going to be able to get their fix with a great condition, lightly used C7 Z06 — either manual or automatic from those owners who open market or trade in sell it to get their 2020 ME.
I totally agree with VETTE-NV’s reasons on why this is a unique time in past-gneration Corvette values. Many of us survived the past generational transition (financially), and I believe we are going to for his reasons and the two above, we are going to have less of a hit this time around.
Second, for at least 2020, some Corvette HP lovers are going to be able to get their fix with a great condition, lightly used C7 Z06 — either manual or automatic from those owners who open market or trade in sell it to get their 2020 ME.
I totally agree with VETTE-NV’s reasons on why this is a unique time in past-gneration Corvette values. Many of us survived the past generational transition (financially), and I believe we are going to for his reasons and the two above, we are going to have less of a hit this time around.
If anyone is worried, then they really can't afford an ME and should just keep and enjoy their C7.
WHAT!!!! The FE won't be carried over during ME production........Gotta be a ton of members in here that are drinking their sorrow away right now.........hahahaba, didn't even need the article. In terms of GMs profit point needs and production level, there is only one Corvette configuration coming in late 2019.....We have all seen them. They are MID ENGINE.
It doesn't make financial sense for there to be 2 very different Corvettes in GM's portfolio...and in dealer's showrooms.
09-02-2018, 08:35 AM
#33
Le Mans Master
The Camaro will be the front engine car. When it was shrunk with at platform change it was close to C7 dimensions. The ME will permanently separate the two.
09-02-2018, 08:41 AM
#34
Drifting
Except for the weight that is near 4000 lbs. That and the basically blind driving position makes the Camaro a poor second choice but this makes sense to separate the ME from FE and different price points. I could possibly see myself in a Camaro for the added practicality (to the ME) if they would improve the interior and visibility.
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The Clevite Kid (09-05-2018)
09-02-2018, 09:31 AM
#35
Race Director
Values of C7s and C6s aren’t super far apart. You can’t drive C7 prices down without C6s also dropping. And C6s have already depreciated most of what they’re going to. When have prices ever been driven “wayyyyyy down” on any generation when a new model Vette came out? It sounds like you’re predicting something new will happen.
Last edited by pdiddy972; 09-02-2018 at 10:04 AM.
09-02-2018, 09:57 AM
#36
Pro
It is not the introduction of a new model that drives down prices and keeps them down! It is the metrics of supply and demand. The Corvette, in any but the very early models, has been a mass produced vehicle that was priced to support that diegesis. When, and only when, the numbers of satisfactory examples of the historic models have disintegrated with time will the prices of any of the models elevate. Example is the C1 and C2's that enjoy great admiration from a fiscal vantage. The reason is simple: there are not very many of them available!
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elegant (09-02-2018)
09-02-2018, 10:01 AM
#37
Burning Brakes
I’m just waiting to see what it looks like. I have no problem just keeping my C7 GS and enjoying it. If this thing is ugly nothing is going to get me in it. If it looks awesome and drives great I might give it a try.
09-02-2018, 10:12 AM
#39
Safety Car
It is not the introduction of a new model that drives down prices and keeps them down! It is the metrics of supply and demand. The Corvette, in any but the very early models, has been a mass produced vehicle that was priced to support that diegesis. When, and only when, the numbers of satisfactory examples of the historic models have disintegrated with time will the prices of any of the models elevate. Example is the C1 and C2's that enjoy great admiration from a fiscal vantage. The reason is simple: there are not very many of them available!
A good sales plan for vehicles produced is to have one less for sale than there are buyers, certainly better than to have way more of them than are desired with the manufacturer having to put in thousands of dollars of flex cash to move them out at the end of a generation.
For first year ME buyers, what if there are 5,000 more buyers than GM can produce, those 5,000 unsuccessfu buyers having to wait in line for year two production. And then for those 1st year successful ones, the resale when they trade it in on a Z06 equivalent version would be a far lesser hit.
BTW, looking into the cloudy crystal ball, that is exacting what I am expecting. Would not surprise me if “forced carryover till year two” sales exceed that 5K number by quite a bit.
Last edited by elegant; 09-02-2018 at 10:16 AM.
09-02-2018, 11:29 AM
#40
Le Mans Master
How the ME and the C7 fair against each other maybe a factor on depreciation. Until the ME is out no one knows it's short comings. The Pontiac Fiero was a hit out of the box. Then owners found it was only good to run errands in town. No trunk space. Not enough interior space. Sales went away then car went away. Granted the Corvette has a lower break point and lower production should mean improved quality.