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20-24 SRs are going to drop like a brick if there's a heavy refresh in '25 like everyone says is coming.
What do you think that will do to the other generations, it all moves together. The C8 is WAY more car than a C7, and so they will fall like a brick too.
They way things are going there will barely be any MY24 eRays built Current TPWs pushed back to February and figure MY25 change-over in the summer, but they could delay that until later in the year as they have had to do time to time.
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Prices for C8s, whether used or new, are bound to decrease at some point. Some have sent happen already. ADM has been slowly dropping and some new cars have been advertised at below MSRP.
Here's the 30, 60, an 365 day price decreases on used. You can see the drops are accelerating on c8's since 3x time the 30 day decrease is greater than the 90 day, and 4x the 90 day is greater than the 365.. C7's started rolling over recently as well. I'd been trying to buy a c7 since the spring with no luck since prices were so high, I've now been able to throw c8's into the list since they've come down so fast while the c7's are still lagging in price drops. I would assume that the c7's will drop more going forward as more people trade them in for c8's (there's a lag effect on their prices since they're heavily influenced by the c8 prices).
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The window sticker shows initial delivery to John Elway Chevrolet in Englewood, Colorado, along with factory equipment, colors, and a total vehicle price of $101,595.
This accentuated the diminishing marginal returns from loading a car. There were $24k of options. The 3LT is almost $5k more than the 2LT which is well equipped. So the sales price does not appear too far off the mark, especially as waits decline.
It's a mass produced car. And supply has caught up with demand. All the people willing to pay over MSRP already have theirs. All the folks willing to pay MSRP already have theirs or on lists that have gone from years to a couple of months. Then the rest of the people are able to wait around and shop for deals.
Plus half the country is also putting away their sports cars for the winter, so fewer buyers this time of year.
Honestly that's what I have been waiting for, been trying to buy a 2017 2LT Grand Sport. Now 2020 and 2021 C8 1LT's are the same price, seems silly to buy the 2017 honestly unless the 2017 drops by $10k. My only issue is that if I went c8 I'd like it to be a 2LT HTC, and those are still in the $70k to $80k range for the most part. With prices falling 2% to 2.5% a month though, they should be available between $65k and $70k by end of January.
if people want car prices AND the world in general to return to normal, you have to reach down, find your ***** and refuse to pay over MSRP.
cars, appliances, houses, boats.. all of this is partly a problem of our own making. if the general public, nationwide, was just really disinclined to pay inflated prices alot of this never woulda come to pass..
Yep, partys over on C8 used values. Just jumped on Autotrader, low mileage C8’s now starting at 60k. Soon will be < 60k.
…here’s my take on the cheapest one I could find (non wrecked) pictured below…it’s now a 5 year old car, just out of warranty at 37K, and STILL going for basically it’s original sticker price…that’s still WAAAY better than driving it off the lot back in the day and immediately losing 20% of its value. If I can drive my ‘24 1LT Vette for just 3 years and get to end of 36K B2B warranty and still get close to my original sticker out of it, I’d consider that a massive win!
1LTs. New were msrp in that area. I don't see this huge panic selling going on??
My guess is dealers and vultures taking advantage of the panickers in small volumes who then in turn spread the false narrative triggering more people to sell for less.
I've only seen "rumors" posted by a few sketchy online click-bait bloggers who have been saying this for years now....
