Corvette has been part of the Chevy lineup for decades. Lately, there have been rumors about the possibility of GM taking the Corvette and turning it into a separate brand. If this were to happen, it could mean when you stop in at a dealership and purchase a Corvette, you could potentially drive home in a sporty Corvette SUV rather than a Corvette Stingray or ZR1. Creating a Corvette brand would lead to the possibility of a plethora of different types of vehicles that would wear the Corvette logo. But will it ever actually happen?
Corvette Considering Becoming a Brand
According to Autoweek, GM is thinking about shaking things up and finally turning Corvette into a brand of its own. That news isn’t nearly as surprising as the idea that there could be both Corvette SUV, crossover, and sedan in the future. While the rumors are flying, everyone at GM is staying quiet. Though they aren’t dismissing the rumors either. When asked, Jim Campbell, vice-president of performance vehicles and motorsports, calmly said, “I can’t say anything one way or the other.”
Corvette turning into a brand isn’t completely surprising
Since most of us are used to thinking about Corvette as a Chevy, the idea of it becoming a brand unto itself seems strange, but when you stop and look at the current trend in automotive marketing you discover that it would follow a bit of a trend. Dodge did the same thing when it created the Ram Truck brand.
While each company has its own reasons for deciding to take a successful line of vehicles and turn it into a brand the main reason has to do with streamlining consumer perception. Consumer attitudes towards vehicles have changed. Before consumers start shopping for their next vehicle they sit down and think about things like reliability, cost, durability, and fuel efficiency. They use this list to decide which brands best suit their needs and often fail to even consider any other brand. For example, by turning Corvette into a brand, GM creates a situation where consumers see the Corvette logo on a vehicle and instantly think it’s an American made, iconic, sporty vehicle that will have a more affordable price tag that they would find on another sports vehicle.
Turning Corvette into a brand would create some different marketing opportunities while also allowing GM to develop even more vehicles.
Corvettes have been around for a long time. Chevy first created the Corvette 62 years ago and it has consistently been one of the company’s bestselling vehicles. While the company has weathered both good and bad publicity, few people have ever had anything negative to say about corvette vehicles. For decades, people have been purchasing Corvettes as status symbols, collector’s items, and because it’s a vehicle that makes them feel good. Corvette vehicles enjoy a reputation for being an affordable sports car, reliability, outstanding performance, and providing drivers with a dynamic setting.
Another advantage GM faces if they decide to create a Corvette brand is triggering consumer loyalty. Turning the iconic vehicle into a brand creates a situation where consumers can proudly show their loyalty by refusing to own/drive any vehicle that’s not a Corvette. That kind of loyalty can generate a great deal of revenue for a company.