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August 2008 Corvette Sales

by Keith Cornett on September 4, 2008

To say that GM’s two rebate programs in August – the 0% Financing offer and the Employee Discount Program has given new life to sales of Corvettes is an understatement, much like saying the Corvette ZR1 is just another sports car. Sales of new Corvettes in August 2008 shot up to 4,242 units from 1,870 units the month before, and year to year Corvette deliveries are up 47%. Despite the fact that 2009 Corvettes are now in dealer showrooms, customers turned out overwhelming to purchase 2008 Corvettes – over 3,100 of them – based on a comparison of this month’s Corvette Stock Report compared to what we saw at the beginning of last month.

While we usually save the Corvette Stock Report for after the monthly sales tables, its important to highlight just what effect the Employee Discount Program for Everyone has accomplished. At the beginning of August, there were a total of 7,162 2008 Corvettes available. As of yesterday that number has dropped to 4,033 units. That’s a reduction of last year’s inventory by 56% in just one month.

The good news is that GM has extended the Employee Discount Program though the month of September so the hope is the buying surge will continue to reduce levels of 2008 inventories including the Corvette.

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%
March 2,692 3,158 -14.8% Jan-Mar 6,788 8,176 -17.1%
April 3,190 3,227 -1.1% Jan-Apr 9,968 11,403 -12.6%
May 2,904 3,300 -12.0% Jan-May 12,872 14,703 -12.5%
June 2,082 3,055 -31.8% Jan-Jun 14,954 17,758 -15.8%
July 1,870 2,377 -21.3% Jan-Jul 16,824 20,135 -16.4%
August 4,242 2,877 47.4 Jan-Aug 21,066 23,012 -8.5


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 7,605 Corvettes on the ground as of yesterday and can be broken down into:

  • 2007 Corvettes – 261
  • 2008 Corvettes – 4,032
  • 2009 Corvettes – 3,312
For those of you looking to score on a 2008 Corvette, here’s the current breakdown in 2008 Corvette inventory:
  • 2,006 Corvette Coupes
  • 1,042 Corvette Convertibles
  • 984 Corvette Z06


Source:
GM.com
JeffHardy.com

Related:
Save Up To $10K On 2008 Corvettes With GM’s Employee Pricing
GM Offering 0% Financing on 2008 Corvettes
July 2008 Corvette Sales

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