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||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 7,605 Corvettes on the ground as of yesterday and can be broken down into:
- 2007 Corvettes – 261
- 2008 Corvettes – 4,032
- 2009 Corvettes – 3,312
- 2,006 Corvette Coupes
- 1,042 Corvette Convertibles
- 984 Corvette Z06