The Chevy Corvette Is Beating the Crazy Auto Market Into Submission
The new Chevy Corvette has caused a massive stir with its most recent “C8” iteration. Not only is Zora Arkus-Duntov currently rolling in his grave at the realization of his dream of the mid-engined ‘Vette, but GM simply cannot keep the C8 on a dealership lot for more than the car’s 2.7 second 0-60 time. In fact, the Chevy Corvette was the fastest-selling new car in the month of July, beating out hype machines such as the Ford Bronco and Kia Telluride.
The Chevy Corvette is fast, but it sells faster
According to a study by iSeeCars, the Chevy Corvette sold insanely fast last month. Like, faster than anything else fast. On average, a new ‘Vette stayed on the lot for just seven days. That’s nothing. I forget seven days have gone by when I wake up Sunday and realize I’ve wasted my weekend yet again. Chevy sells more Corvettes in a week than I can count. As an aside, if anyone is interested, my brand new Corvette-only dealership opens next week!
That’s not all, either. There’s some heavy hitters on this list being outsold by the Chevy Corvette, like the Toyota 4Runner and Kia Telluride. Both are family-oriented SUVs that will certainly outsell the ‘Vette by the end of the year. However, the ‘Vette is pulling out a big lead, even despite its very high selling price. The study states that on average, new Corvettes are selling for around $86,000, a far cry from the car’s $60,000 base price. But more on that later.
The ‘Vette deserves its success
For now, I’d like to discuss exactly why the ‘Vette sells so well, and so quickly. Within the last decade or so, GM has managed to take the Corvette from a New Balance-wearing, BBQ-manning, Big Mac- snackin’ icon of Americana to a serious performance contender. You can argue that the C6 Z06 Chevy Corvette started that trend. Performance became the exclamation point at the end of what was now a fantastically old-school front-engine, rear-drive sports car.
And that’s what the Chevy Corvette has always been about, despite its struggles. The Corvette is designed to push away the European competition, and the switch to a mid-engined layout made that official. Combine that with a sub-$100k price tag, and you’ve got yourself a world-beater. Oh, also, 500 hp V8. Not to mention, the hype continues to be fed by teasers of a new flat-plane Euro-inspired, new Chevy Corvette Z06.
How did a sports car beat out the SUVs?
To explain how we got here I’ve got to get a little, well, not political but just right up on that line. Wealthy people made a lot of money over the course of the pandemic. They, like the rest of us plebians, have been stuck at home wanting new toys. You bought a PS5, and the wealthy bought Corvettes.
The families that can afford a brand new Kia Telluride likely aren’t in the same tax bracket as a C8 Corvette owner, and that’s why more are selling right now. More people can afford to buy the $85,000 marked-up ‘Vette than those shopping for a new family car. I’m not happy about the circumstances of it, but hey, at least they’re being bought, and we’re all getting a little V8 love because of it.