Sales of New Corvettes continue to decline with July 2008 being one of the worst months on record in recent years. GM’s July sales report show only 1,870 new Corvettes were delivered, a decline of -10.2% from June 2008 and -21.3% over July 2007. For the 2008 Calendar Year, 16,824 Corvettes have been delivered, a decline of -16.4% over the same six-month period in 2007.
July has traditionally been a month where we witness some pullback in deliveries due to the model year changeover and the annual two week plant shutdown at the Bowling Green Assembly Plant. With record inventories on hand though at the beginning of the month, its unlikely that either the model year changeover or the plant shutdown played any role in the reduction of sales in July.
The decision by GM to offer 0% financing on 2008 Corvettes couldn’t have come at a better time for dealers or consumers. The offer includes all three models with 48 months 0% APR for Coupes and Z06s and 60 months 0% APR for Convertibles.
|2008 Corvette Delivery Statistics|
|Month||2008||2007||% Change||Months||2008||2007||% Change|
|2007 Corvette Delivery Statistics|
|Month||2007||2006||% Change||Months||2007||2006||% Change|
Corvette Stock Report:
A check of Jeff Hardy’s website shows a total of 7,162 Corvettes on the ground of yesterday. That’s good news considering at the beginning of July, that number had ballooned up to 8,760 Corvettes. We may already be seeing the effect of the 0% financing offer as we ran the numbers just three days ago and since then 330 2008 Corvettes were sold over the weekend. Here’s the current breakdown in 2008 Corvette inventory:
- 3,781 Corvette Coupes
- 1,742 Corvette Convertibles
- 1,639 Corvette Z06
According to the site, there are 325 2007 Corvettes still available at dealers across the nation.