How rich are C8 buyers?
01-20-2021, 10:12 PM
#1
Instructor
Thread Starter
How rich are C8 buyers?
Anybody see this Fox business article today claiming:
"A Chevrolet spokesman told FOX Business that the median income of a Corvette buyer last year was up $76,000 to $214,000, suggesting it is being cross-shopped with cars well above its $59,995 base price, which is only $3,000 more than the previous version’s."
I find that very hard to believe, that the median income is $214k.. I know GM is trying to lure the younger, more affluent crowd, but if the mid point of C8 buyer's income is really $214k, Id be shocked.
"A Chevrolet spokesman told FOX Business that the median income of a Corvette buyer last year was up $76,000 to $214,000, suggesting it is being cross-shopped with cars well above its $59,995 base price, which is only $3,000 more than the previous version’s."
I find that very hard to believe, that the median income is $214k.. I know GM is trying to lure the younger, more affluent crowd, but if the mid point of C8 buyer's income is really $214k, Id be shocked.
Popular Reply
01-20-2021, 10:50 PM
"A Chevrolet spokesman told FOX Business that the median income of a Corvette buyer last year was up $76,000 to $214,000, suggesting it is being cross-shopped with cars well above its $59,995 base price, which is only $3,000 more than the previous version’s."
:-D
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01-20-2021, 10:16 PM
#3
01-20-2021, 10:17 PM
#4
Anybody see this Fox business article today claiming:
"A Chevrolet spokesman told FOX Business that the median income of a Corvette buyer last year was up $76,000 to $214,000, suggesting it is being cross-shopped with cars well above its $59,995 base price, which is only $3,000 more than the previous version’s."
I find that very hard to believe, that the median income is $214k.. I know GM is trying to lure the younger, more affluent crowd, but if the mid point of C8 buyer's income is really $214k, Id be shocked.
"A Chevrolet spokesman told FOX Business that the median income of a Corvette buyer last year was up $76,000 to $214,000, suggesting it is being cross-shopped with cars well above its $59,995 base price, which is only $3,000 more than the previous version’s."
I find that very hard to believe, that the median income is $214k.. I know GM is trying to lure the younger, more affluent crowd, but if the mid point of C8 buyer's income is really $214k, Id be shocked.
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01-20-2021, 10:19 PM
#5
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Thread Starter
I dont think theyre talking about dual incomes. Theyre taking about the C8 buyer. I was thinking that folks with high income would, at least in the past, have been buying P cars and exotics; didnt exactly have that demographic as corvette buyers... C8 seems to be radically changing that.
01-20-2021, 10:20 PM
#6
I dont think theyre talking about dual incomes. Theyre taking about the C8 buyer. I was thinking that folks with high income would, at least in the past, have been buying P cars and exotics; didnt exactly have that demographic as corvette buyers... C8 seems to be radically changing that.
Last edited by CitznFish; 01-20-2021 at 10:21 PM.
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traind (01-22-2021)
01-20-2021, 10:30 PM
#7
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01-20-2021, 10:50 PM
#8
"A Chevrolet spokesman told FOX Business that the median income of a Corvette buyer last year was up $76,000 to $214,000, suggesting it is being cross-shopped with cars well above its $59,995 base price, which is only $3,000 more than the previous version’s."
:-D
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01-20-2021, 10:51 PM
#9
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boostm2 (01-20-2021)
01-20-2021, 10:52 PM
#10
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"A Chevrolet spokesman told FOX Business that the median income of a Corvette buyer last year was up $76,000 to $214,000
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01-20-2021, 11:22 PM
#12
I absolutely believe this! Without a doubt.
Many people that are prior Corvette buyers may not understand this but I do and I have never owned a Corvette. I have been buying expensive foreign cars for 30 years and know many people like that that are also buying C8s without prior GM product purchases.
Many people that are prior Corvette buyers may not understand this but I do and I have never owned a Corvette. I have been buying expensive foreign cars for 30 years and know many people like that that are also buying C8s without prior GM product purchases.
Anybody see this Fox business article today claiming:
"A Chevrolet spokesman told FOX Business that the median income of a Corvette buyer last year was up $76,000 to $214,000, suggesting it is being cross-shopped with cars well above its $59,995 base price, which is only $3,000 more than the previous version’s."
I find that very hard to believe, that the median income is $214k.. I know GM is trying to lure the younger, more affluent crowd, but if the mid point of C8 buyer's income is really $214k, Id be shocked.
"A Chevrolet spokesman told FOX Business that the median income of a Corvette buyer last year was up $76,000 to $214,000, suggesting it is being cross-shopped with cars well above its $59,995 base price, which is only $3,000 more than the previous version’s."
I find that very hard to believe, that the median income is $214k.. I know GM is trying to lure the younger, more affluent crowd, but if the mid point of C8 buyer's income is really $214k, Id be shocked.
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01-20-2021, 11:38 PM
#13
Race Director
Anybody see this Fox business article today claiming:
"A Chevrolet spokesman told FOX Business that the median income of a Corvette buyer last year was up $76,000 to $214,000, suggesting it is being cross-shopped with cars well above its $59,995 base price, which is only $3,000 more than the previous version’s."
I find that very hard to believe, that the median income is $214k.. I know GM is trying to lure the younger, more affluent crowd, but if the mid point of C8 buyer's income is really $214k, Id be shocked.
"A Chevrolet spokesman told FOX Business that the median income of a Corvette buyer last year was up $76,000 to $214,000, suggesting it is being cross-shopped with cars well above its $59,995 base price, which is only $3,000 more than the previous version’s."
I find that very hard to believe, that the median income is $214k.. I know GM is trying to lure the younger, more affluent crowd, but if the mid point of C8 buyer's income is really $214k, Id be shocked.
B. They have no idea how much people make that buy all the cars and if they did I'm sure legally they can't share that, but I could be wrong.
01-20-2021, 11:42 PM
#14
What? Fox did not say this!
A Chevrolet spokesman told FOX Business that the median income of a Corvette buyer last year was up $76,000 to $214,000, suggesting it is being cross-shopped with cars well above its $59,995 base price, which is only $3,000 more than the previous version’s.
A Chevrolet spokesman told FOX Business that the median income of a Corvette buyer last year was up $76,000 to $214,000, suggesting it is being cross-shopped with cars well above its $59,995 base price, which is only $3,000 more than the previous version’s.
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01-21-2021, 04:24 AM
#15
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They have no idea what they buyer’s actual income is. If filling out an application for financing, you’re asked for your income, but they have no way to verify what you’ve entered is accurate. They’re getting their data from customer surveys they send out, and then most likely cherry-picking data points. We’ve all seen/received these surveys and typically the income choices are very broad ranges. They all ask for “household” income so right off the bat GM is being deceiving in their reporting by claiming the C8 buyer has an avg income of $214k. The “what other vehicles did you consider” questions are also very broad. Did the survey provide a list of choices or was the answer self-selected? If a list, what vehicles were there from which to choose?
To be accurate, one would have to know the number of surveys sent out, number received, range of income data selected, single/dual income household, among other things. Survey data is inherently flawed especially when you don’t know who’s filling it out, are they being truthful, etc. This is just PR hype by GM to try to put the C8 in much higher category than it is.
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boostm2 (01-24-2021)
01-21-2021, 05:52 AM
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They have no idea what they buyer’s actual income is. If filling out an application for financing, you’re asked for your income, but they have no way to verify what you’ve entered is accurate. They’re getting their data from customer surveys they send out, and then most likely cherry-picking data points. We’ve all seen/received these surveys and typically the income choices are very broad ranges. They all ask for “household” income so right off the bat GM is being deceiving in their reporting by claiming the C8 buyer has an avg income of $214k.The “what other vehicles did you consider” questions are also very broad. Did the survey provide a list of choices or was the answer self-selected? If a list, what vehicles were there from which to choose?
To be accurate, one would have to know the number of surveys sent out, number received, range of income data selected, single/dual income household, among other things. Survey data is inherently flawed especially when you don’t know who’s filling it out, are they being truthful, etc. This is just PR hype by GM to try to put the C8 in much higher category than it is.
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bluan (01-22-2021)
01-21-2021, 06:08 AM
#17
Race Director
There are lots of retired Corvette buyers who have 7 figure portfolios who don't take much income because their houses are paid for and they don't have young kids or college age kids so they just need walking around money and don't draw big incomes. Now you probably have a lot more of these new younger buyers who have household incomes over $300k and $400k+ and spending most of it or even more than they make bringing the average income up...
Last edited by EasyLivin; 01-21-2021 at 06:38 AM.
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01-21-2021, 06:38 AM
#18
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There are lots of retired Corvette buyers who have 7 figure portfolios who don't take much income because their houses are paid for and don't have young kids or college kids so they just need walking around money and don't draw big incomes. Now you probably have a lot more of these new younger buyers who have household incomes over $300k and $400k+ and spending most of it or even more than they make bringing the average income up...
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01-21-2021, 06:44 AM
#19
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Yep... Probably half or more of all previous Corvette Buyers don't need to work anymore...
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01-21-2021, 07:01 AM
#20
There are lots of retired Corvette buyers who have 7 figure portfolios who don't take much income because their houses are paid for and they don't have young kids or college age kids so they just need walking around money and don't draw big incomes. Now you probably have a lot more of these new younger buyers who have household incomes over $300k and $400k+ and spending most of it or even more than they make bringing the average income up...
Exactly.
I'm far from rich but having no wife or kids allowed me to have a lot of disposable income. Being in the medical field also helps. Especially with the OT lol.
I'm under 40 so far from retiring soon either lol.