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MacMulkin in Nashua, NH ( second largest Corvette dealer in the country) before the reveal had base 1LTs for $49 K and GS's for around $70k. Why would I drop that much on a C7 ? I would not. So, C7s are going to sit on dealer lots unless GM gives dealers a supplement that allows dealers to sell C7s at a substantial loss.
But the depreciation curve won't really hit the C7's hard until 3rd model year of C8 since I think GM will probably raise the 2021 C8 MY price 3k in the second year which delays the depreciation a bit.
Happens every time a new generation comes out. I remember Tadge saying in some interview in 2013 how the C7 made the C6 totally obsolete.
Yep, then he tried to retract that statement ASAP but it was already said. And the C8 looks like it does the same to the C7. Unless you want/own a manual. Then you have something worth holding onto. Although I love the driving experience with a manual, I've (begrudgingly) gotten used to my DSG over the past couple of years. It sure as hell is much faster and makes me a better driver. There is immense satisfaction with a perfectly rev matched downshift. LMAO, not that you'll get one out of my pathetic granny shifting.........
MacMulkin in Nashua, NH ( second largest Corvette dealer in the country) before the reveal had base 1LTs for $49 K and GS's for around $70k. Why would I drop that much on a C7 ? I would not. So, C7s are going to sit on dealer lots unless GM gives dealers a supplement that allows dealers to sell C7s at a substantial loss.
And yet people have actually been ordering new C7s even after the C8 was very well known. I personally know two guys who have placed factory orders for C7s. One took delivery a couple of months ago and the others is being built right about now.
Every generation has had very big discounts late in the model cycle. Part of it is simple saturation. Only so many buyers of a two seat Chevy. So a lot of buyers have bought the current generation and just keep it a long time. They run out of new buyers for a generation. Yes, plenty of people will wait, and plenty of C7s will be traded. But there will still be plenty of buyers new and used for the outgoing generation.
It happens every time. I sold my 2009 Z06 a year before the C7 came out. I watched with interest what used 2009s like mine were bringing after the C7 came out. It hardly dropped at all. Part of what happens is that the new generation sells at, near, or above MSRP for a period of time. That actually props up the value of clean used versions of the last generation.
Happens every time a new generation comes out. I remember Tadge saying in some interview in 2013 how the C7 made the C6 totally obsolete. Blah blah blah blah.
Wow, imagine someone at GM saying about a new model that it makes the old one obsolete. What would you expect him to say?
I love how some people think in an all or nothing terms and that they think everything thinks exactly the way they do. They like the new C8 so that automatically means the C7 is going to languish on lots. While I thought the C8 looks ok, my wife and I had a conversation about it this morning and we both agree that we actually like the looks of our Grand Sport better than the new base car. As I said, I like the new car but things like the side scoop protruding into the door and some of the lines on the car would cause me to not trade my C7 for it. Now that opinion may change completely when the Z06 variant comes out but for now we would prefer the C7. I would wager that there may be likely others that feel the same way and now that they have seen the C8 they may just see enough they don’t like that they will buy a C7 instead.
I love the new C8. It is my "dream" Corvette. I've always wanted a mid-engined car, and that drove me to Lambo's because I hate ferrari. Now, I can have a mid-engined Corvette!
I will have one, and I will likely keep my C7. Variety is the spice of life, gentlemen and ladies...variety.
I'll be keeping my '66 C2 through another new generation Corvette production cycle..... Bought it in '88 and haven't felt the need to change yet. Good Luck to all the new (soon to be) C8 owners and good luck to all those who own previous generation Corvettes. Enjoy and have fun.
Wishful thinking. I’ll let you know how that goes when I try trading in my C7 Z51 M7. I’ll probably hear, “only about 25% of Corvette buyers opt for the manual, going to be hard selling your car, can’t give you much for it”...
Not every potential C8 customer will be an early adopter on a new platform like the C8. Some folks will still be in the market for a C7 for some number of years but I agree the prices need drop a bit.
I would hope so, otherwise its a fail on their part. People should always want the new over the old. Otherwise it was a fail. Obviously, they can't get 100% of everyone, but you get the idea.
MacMulkin in Nashua, NH ( second largest Corvette dealer in the country) before the reveal had base 1LTs for $49 K and GS's for around $70k. Why would I drop that much on a C7 ? I would not. So, C7s are going to sit on dealer lots unless GM gives dealers a supplement that allows dealers to sell C7s at a substantial loss.
I was thinking similiar thoughts as I was watching the reveal. They'll be those that love their current Vette, but for those looking to upgrade, I just can't see getting a C7.
Wow, imagine someone at GM saying about a new model that it makes the old one obsolete. What would you expect him to say?
About the only thing would be to offer a C7 for at least $20K less than a comparable C8. Otherwise, those C7s will be sitting on dealers' lots a looooooooong time.
I was talking to the wife about it this morning as well. I'll certainly get a C8 eventually but a few things to consider...
They didn't even mention a timeline for them to go on sale so it's not going to be soon. We could very well be looking at March before the first deliveries happen.
I'm not a fan of paying MSRP for cars. Your still going to take the same hit on value so you can write off $6 to $10K just signing the papers. No thanks. I'll wait for the discounts (or used ones).
I don't care to be the beta tester for this leap in approach to performance that Chevy is making. There will be issues just like any new car. I'll wait until they figure those out.
To get a comparable equipped C8 (I have a 2LT Z06), it's looking like I'm going to have spend $71K+. That's a LOT more money than I spent on my current car.
The C8 is going to be an amazing car but I'm not feeling any pressure to go out and reserve one. I'll likely wait until the demand subsides a little and the inevitable issues get resolved.
If those who have lots of money to spend, the C8 is a no brainer. If you don't have money to burn, the C7 still makes a lot of sense. Not everyone can stretch from $50K to $70K.
07-19-2019, 08:51 AM
GM just torpedoed the C7
