The C8 may decimate the high end used sports car market
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#22
I don't think Mustang GT sales will be affected. It's the cool thing to have your MGT parked outside your trailer. Having a Corvette there would just be awkward.
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68roadster (05-23-2019)
#23
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St. Jude Donor '15
"In honor of jpee"
I believe the OP is correct and it will drive prices down of other used vehicles which are out of warranty.
I know a lot of current Mclaren and Porsche owners who are sick of large service bills, and are eying the c8 very closely, who ask me what I know about the car on a regular basis.
Our Porsche sales manager has also made mention that he believes the c8 will have an impact on 911 sales, since the c8 will be the latest and greatest and it will allow a lot of high end clientele to jump into a Vette and save face that it is now an "exotic" car, at least for the first year or 2 before everyone has one, and then they might go back to Porsche Mclaren ferrari Lambo once they give the Vette a fair shot while it is still a rare vehicle and is still a conversation piece when they pull up to parties and events.
Most rich people don't become rich by spending their money foolishly. The c8 presents an opportunity in its first 2 years of production for these clients to be in a rare unique car, while also being very practical financially.
I know a lot of current Mclaren and Porsche owners who are sick of large service bills, and are eying the c8 very closely, who ask me what I know about the car on a regular basis.
Our Porsche sales manager has also made mention that he believes the c8 will have an impact on 911 sales, since the c8 will be the latest and greatest and it will allow a lot of high end clientele to jump into a Vette and save face that it is now an "exotic" car, at least for the first year or 2 before everyone has one, and then they might go back to Porsche Mclaren ferrari Lambo once they give the Vette a fair shot while it is still a rare vehicle and is still a conversation piece when they pull up to parties and events.
Most rich people don't become rich by spending their money foolishly. The c8 presents an opportunity in its first 2 years of production for these clients to be in a rare unique car, while also being very practical financially.
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#24
Burning Brakes
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#25
Le Mans Master
You do realize the Demon is the fastest straight line production car, right? Not fastest for the price, fastest. Period. You can't run it stock at a drag strip, because it runs fast enough to require a full cage. People buy them for completely different reasons than Vettes.
No, the C8 isn't touching the Demon market. And, I'd argue the Mustang market (barring a few one-offs and special models) is already below the Vette market by substantial numbers.
No, the C8 isn't touching the Demon market. And, I'd argue the Mustang market (barring a few one-offs and special models) is already below the Vette market by substantial numbers.
I would guess that the only people looking to cross shop a C8 over a used Ferrari, Lambo or McLaren, are going to be the folks intending to drive the car. The C8 will give that driving experience with the warranty and more reasonable maintenance cost. But those folks shopping for a badge will still buy the badge. For that reason, I don't see much movement in the overall market on those cars.
But, of course, it really all depends upon exactly what GM rolls out on 7/18.
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jefnvk (05-23-2019)
#26
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There are just too many various parameters out there right now to determine what will happen.
IF the car rolls out, and has NO problems, is priced in the same range as the current models are, and has the performance/handling I think we all hope it has, it is going to be a game changer of massive proportions.
There will always be those who will buy foreign cars for any number of reasons and a certain number of them will never change. Those buying Porsche's and AMG's are a definite target market. So are the young people who have been buying the Japanese/Asian cars that old geezers here disdain as "rice burners".
This is totally uncharted territory and GM is taking a huge risk. An American built, mid engine sports car that has V8 power with with twin turbos sounds impressive as hell when talking about it. A true giant killer in every aspect.
Now what happens when the rubber meets the road?
IF the car rolls out, and has NO problems, is priced in the same range as the current models are, and has the performance/handling I think we all hope it has, it is going to be a game changer of massive proportions.
There will always be those who will buy foreign cars for any number of reasons and a certain number of them will never change. Those buying Porsche's and AMG's are a definite target market. So are the young people who have been buying the Japanese/Asian cars that old geezers here disdain as "rice burners".
This is totally uncharted territory and GM is taking a huge risk. An American built, mid engine sports car that has V8 power with with twin turbos sounds impressive as hell when talking about it. A true giant killer in every aspect.
Now what happens when the rubber meets the road?
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#27
I think this car will be cross-shopped with the 911 more often than previous C gens primarily because it will be an ME. I think there is a sizable minority of Corvette owners who have in the past, and will in the future, always look at both.
I'm one of those, and I know many other enthusiasts who feel the same. We're not the stereotypical Corvette owners, who join clubs and collect Vette paraphernalia, and we tend to be more brand agnostic, but we do represent a sizable percentage of sales for both Corvette and Porsche.
I'm one of those, and I know many other enthusiasts who feel the same. We're not the stereotypical Corvette owners, who join clubs and collect Vette paraphernalia, and we tend to be more brand agnostic, but we do represent a sizable percentage of sales for both Corvette and Porsche.
Last edited by Foosh; 05-23-2019 at 08:37 AM.
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#28
Probably two reasons for that. If you have a few hundred thousand to spend on a car, there's a 100% chance that you own several other cars which are more suitable as DDs. Also, where do you take an exotic car? They typically aren't taken to work or to malls or to a local super market, but are mostly used for pleasure drives. About the only time I see them is at a local Cars and Coffee event that occurs every Saturday in my area. Although most of these cars are local, you just don't typically see them on the road.
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#29
Safety Car
This is a very interesting point the new C8 will disrupt the sport car used market to say the least
#30
First post
First post, so go easy on me guys. I'm coming from a 911 so can't speak to other cars that much. I love the 911 as far as reliability and being a daily driver. But, it's frustrating to pay so much (relative) and have constant squeaks and rattles. The service cost is not that good either because dealers are few and far between. When the C7 came out I really liked it. I'm hoping the C8 will be even better. Cars like these make me proud to be an American! It makes total sense (for me) to buy something that has readily available parts and service cost is reasonable. I didn't care if the 911 had a VW sign on it and I don't care about brand. I just love the feel of a good car.
Full electric cars are the future. These beautiful machines like the C8 might be the last cars with souls we get to enjoy. To those that love the exotics, supercars, hypercars-enjoy them. To those that get a grin from driving Corvettes-enjoy them. Life's too short.
Full electric cars are the future. These beautiful machines like the C8 might be the last cars with souls we get to enjoy. To those that love the exotics, supercars, hypercars-enjoy them. To those that get a grin from driving Corvettes-enjoy them. Life's too short.
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#31
Well said, and good first post. Welcome.
I'm not completely convinced that full electric is the future because of uncertainties in whether revolutionary and environmentally-friendly advances can be made in battery tech, but I do agree that some degree of universal "electrification" is inevitable. In the foreseeable future, I suspect some type of hybrid drivetrain will remain in the equation.
I'm not completely convinced that full electric is the future because of uncertainties in whether revolutionary and environmentally-friendly advances can be made in battery tech, but I do agree that some degree of universal "electrification" is inevitable. In the foreseeable future, I suspect some type of hybrid drivetrain will remain in the equation.
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#32
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The majority of guys that buy used "exotic" vehicles in the 10-15 year old range are going after some kind of an image projection and are not in the market for a new Corvette regardless of Ring times, 0-60, or engine location. The boys at the Country Club who play the who wears what watch and who drives what brand of car recognize these triggers as shallow and as superficial as it may be. I spent a couple decades in that world and it is that nauseating.
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#33
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I think this car will be cross-shopped with the 911 more often than previous C gens primarily because it will be an ME. I think there is a sizable minority of Corvette owners who have in the past, and will in the future, always look at both.
I'm one of those, and I know many other enthusiasts who feel the same. We're not the stereotypical Corvette owners, who join clubs and collect Vette paraphernalia, and we tend to be more brand agnostic, but we do represent a sizable percentage of sales for both Corvette and Porsche.
I'm one of those, and I know many other enthusiasts who feel the same. We're not the stereotypical Corvette owners, who join clubs and collect Vette paraphernalia, and we tend to be more brand agnostic, but we do represent a sizable percentage of sales for both Corvette and Porsche.
Last edited by ArmchairArchitect; 05-23-2019 at 10:03 AM.
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#35
The majority of guys that buy used "exotic" vehicles in the 10-15 year old range are going after some kind of an image projection and are not in the market for a new Corvette regardless of Ring times, 0-60, or engine location. The boys at the Country Club who play the who wears what watch and who drives what brand of car recognize these triggers as shallow and as superficial as it may be. I spent a couple decades in that world and it is that nauseating.
I agree, but these same people buy a new Jeep if its a brand new revolutionary body style and drive it for a year or 2 before they flip into something new. The people who bought a mini cooper on its first year of release, the audi A5/S5 and A7/S7, and even new bug convertibles for their wives when they first come out, but they both end up driving it to the golf course with the top down and their clubs in the back seat, a lot of those people have more money than all of us combined...
To them cars are like shoes, and they want the new style. If c8's are hard to get and there is a lot of conversation around them, rest assured, they will want one.
You are correct that there are a lot of shallow people who want attention from what car they drive and need to know they are being talked about and known to have the latest and greatest, but at the end of the day, 99% of those people still have a bank account that is fully tapped and every dollar accounted for. They may try to make it appear their money is endless, but in doing so, they have already spent every dollar they have coming from their next paycheck or from their upcoming trust fund deposit, and so they are still on a budget as they have spent the other money on their boats/yacht and country club memberships
A c8 gives them a big bang for their buck with limited-depreciation possibility for the first 1- 2 years of the car's production due to most people still being in the waiting line for one, and with so many people with the mindset of-
"if you find a used one that goes through Manheim, call me, I'm a buyer"
...as first and second year Vettes bring all the money at the auction as a good deal is all perception and most people have the idea that if they can find a used low mile car at the auction, "that is the practical one to pull the trigger on", and thus auction prices on them are usually within 500 dollars of what one would retail for used, on a showroom since there are so many retail buyers telling their friends with the auction-dealer pass to find them one and out bid everyone else at the auction who is ordered to do the same thing.
A person can buy a c8 at full sticker, drive it for a year, and flip out of it for under 10 grand loss just by running the car through Manheim. This is how it was when the c7 z06 first came out. This is a big deal when you consider any other 90,000 dollar car loses about half its value in 3 -4 years, and usually, 25% is the first year and a half to 2 years from their original full MSRP's
Last edited by bbbvettes.com; 05-23-2019 at 11:49 AM.
#37
Race Director
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#38
I think the OP has a point... will high-end exotics be affected? No. Will other used high end sports cars be affected? Very much so. Why buy used, when I can get a brand new car with a 5 year powertrain warranty for $60-$80k?
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#39
Race Director
+1 ^^^^
I think the 2nd tier exotics like Aston Martin will be affected on the used market. Folks buying used Ferraris at new C8 price points (348/355's) are buying because they always wanted a Ferrari and wouldn't/couldn't buy a new one. I have a friend like that and he just bought a 355 (he could buy new but just refuses!!!).
I think the 2nd tier exotics like Aston Martin will be affected on the used market. Folks buying used Ferraris at new C8 price points (348/355's) are buying because they always wanted a Ferrari and wouldn't/couldn't buy a new one. I have a friend like that and he just bought a 355 (he could buy new but just refuses!!!).
Last edited by jimmyb; 05-23-2019 at 11:53 AM.