February 2008 Corvette Sales

Mar 4, 2008

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February’s Corvette sales were very similar to January’s number with just over 2,000 Corvettes being delivered. The Year to Year comparison is in stark contrast to the month to month figures with a change of -25.6% from February 2007 compared with February 2008. So what the heck is going on with Corvette Sales?

My analysis is purely antidotal based solely on the public data I have access to but this is what we are seeing. There has been a drastic reduction in new Corvettes being delivered over last year. Secondly, the amount of new 2008 Corvettes available has grown by nearly 1,000 units to 6,455 in February compared to January’s 2008 Stock Report.

External factors play an important role in sales of sports cars. Adverse weather conditions throughout much of the country can dampen sales as well as growing concerns with a slowing economy.

If the current trends remain constant over the next four months, then the 2008 MY could possibly have the lowest model year production total since 1997’s introduction of the C5 Corvette. Unless Chevy reduces output and allows the market to absorb the cars that are currently on the ground it’s likely well see incentives to move the 2008’s and make way for the 2009’s that will begin to hit dealers in late summer.

2008 Corvette Delivery Statistics
Month				Calendar Year-to-Date
Month	2008	2007	% Change	Months	2008	2007	% Change
January	2,015	2,234	-9.8%	Jan-Jan	2,015	2,234	-9.8%
February	2,071	2,784	-25.6%	Jan-Feb	4,086	5,018	-18.6%

2007 Corvette Delivery Statistics
Month				Calendar Year-to-Date
Month	2007	2006	% Change	Months	2007	2006	% Change
January	2,234	2,579	-16.8%	Jan-Jan	2,234	2,579	-16.8%
February	2,784	3,058	-9.0%	Jan-Feb	5,018	5,637	-11.0%
March	3,158	3,655	-16.7%	Jan-Mar	8,176	9,292	-12.0%
April	3,227	3,516	-0.6%	Jan-Apr	11,403	12,808	-11.0%
May	3,300	3,317	-4.3%	Jan-May	14,703	16,125	-8.8%
June	3,055	2,938	0.1%	Jan-Jun	17,758	19,063	-6.8%
July	2,377	2,794	-11.4%	Jan-Jul	20,135	21,857	-7.9%
August	2,877	2,990	-3.8%	Jan-Aug	23,012	24,842	-7.4%
September	2,837	3,056	-3.5%	Jan-Sept	25,849	27,903	-7.4%
October	2,484	2,761	-13.5%	Jan-Oct	28,333	30,664	-7.6%
November	2,438	2,773	-12.1%	Jan-Nov	30,771	33,437	-8.0%
December	2,914	3,081	-5.4%	Jan-Dec	33,685	36,518	-7.8%

Corvette Stock Report:
A check of Jeff Hardy’s website shows a total of 6,455 2008 Corvettes on the ground. That’s an increase of 975 Corvettes compared with January’s 5,480 total.