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The End of the 2008 Corvette is Near!

by Keith Cornett on April 24, 2008

The sun sets on the 2008 Corvette Model Year

The opportunity for you to custom order a 2008 Corvette is rapidly coming to an end. Chevrolet dealers received their final allocations this week and you will need to act fast as this is the final week to get your order placed. Corvettes ordered this week will be built the week of May 19, 2008.

The 2008 model year for Corvette will come to a close on June 20th. The plant will be idled for three days as its prepped to produce the 2009 Corvette. Production on the 2009 is slated to begin June 23rd for Coupe, Convertible and Z06. ZR1 Corvette production is expected to start three weeks later on July 14th.

Constraints this week include:

  • QX3 Chrome Wheels
  • 67U Machine Silver
  • Z44 427 Limited Edition Z06
  • Z4Z Corvette Pace Car

As our sales analysis on the Indy 500 Corvette Pace Car indicated, dealers that took a chance and ordered the Corvette will have in stock and available in early May.

If you’ve already picked out your Corvette but have yet to decide on a dealer, contact Dave Salvatore at Kerbeck Corvette, the world’s largest Corvette dealer at 1-877-537-2325. Dave can help you navigate through the buying process and your Corvette can be delivered anywhere including the National Corvette Museum.


Source:
Kerbeck Corvette

Related:
Sales Analysis: The 2008 30th Anniversary Indy 500 Corvette Pace Car Replica
GM Announces Production Dates for 2008/2009 Corvettes

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[VIDEO] New Corvette Pace Cars Hit The Indy 500

by Keith Cornett on April 23, 2008

Running the Brickyard in a 2008 Indy 500 Corvette Pace Car

“Welcome to the adult version of Christmas.” That’s what one speaker calls the day when the keys to all those Indy 500 festival cars are passed out. IGotShotgun was at the Indianapolis Motor Speedway for the 500 Festival Committee Meeting which culminates in members receiving the keys to their very own 2008 Indy 500 Corvette Pace Car and then taking them for some laps around the speedway.

We counted at least 50 of the 30th Anniversary Indy 500 Corvette Pace Cars and to see them lined up on the fabled brickyard is something special. The E85 Concept Corvette Z06 was also at the track showing what it can do.

Some of the dignitaries went for a hot lap with 2-time 500 Winner and this year’s official pace car driver Emerson Fittipaldi or Corvette Racing’s Max Papis. In this next video, “Mad Max” Papis takes IGotShotgun for a 180 mph hot lap around the 2.5 mile oval.

Festival members have use of the Corvette through the month of May and then the cars are sent to various dealers where they will be sold as official Indianapolis 500 Festival cars.


Source:
I Got Shotgun!

Related:
Sales Analysis: The 2008 30th Anniversary Indy 500 Corvette Pace Car Replica
Two Unique Corvettes to Pace the 2008 Indianapolis 500
Video: Unveiling the 2008 Indy 500 Corvette Pace Cars

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30th Anniversary Indy 500 Corvette Pace Car

Late last year with much fanfare, Chevrolet announced that for the first time ever two Corvettes would be pacing the Indianapolis 500. One of the Corvettes is the customized Z06 E85 Concept highlighting GM’s Green Initiative and will showcase the ability of the automaker to run even the Corvette on E85 Ethanol. But it was the second Corvette that is even more interesting in our opinion as it marked the 30th Anniversary of the 1978 Corvette Pace Car and would be commemorated by a special run of 500 Pace Car Replicas.

With only 500 of these special editions available, you would think that these Indy Pace Car replicas would be in demand and sell fast, but from the conversations we’ve had with several high-volume Corvette dealers, that just doesn’t appear to be the case. Here is what we’ve been hearing as the major roadblocks to sales of the 30th Anniversary Corvette Pace Car and why we think owning this special edition is a smart investment.

Dealers may be bypassing this year’s Corvette Pace Car replica because last year model didn’t sell well. Many point to the late entry of the replica into the 2007 production model run. The 2007 Corvette Pace Car Replica didn’t hit the lots until June, well after the running of the Indianapolis 500. We also believe that demand for last year’s Pace Car was tempered by news of the 2008 Corvette models which featured a new, more powerful engine and interior upgrades. As a matter a fact, that news is attributed to an overall decline in sales of all 2007 Corvettes.

Last year, Chevrolet offered two special edition Corvettes at the same time, the Ron Fellows ALMS GT1 Championship Z06 and a Indy 500 Corvette Pace Car replica. Buyers overwhelmingly gravitated to the Ron Fellows Z06 Signature Edition. This year, Chevrolet again offered two special edition Corvettes at the same time: The 427 Limited Edition Corvette Z06 and the 30th Anniversary Corvette Indy Pace Car Replica and guess what? Buyers again gravitated first to the Z06.

So why is the 30th Anniversary Corvette Indy Pace Car Replica a smart buy? The first is economics. No, I’m not saying buy this car and you’ll make money on it. But you will lose less money because of its limited production of only 500 cars. Recent history shows the depreciation of the Corvette Pace Cars will be less than an average coupe or convertible Corvette and will generally start appreciating first and faster than their regular production counterparts.

1998 Indy 500 Corvette Pace CarTake a look at the 1998 Corvette Indy Pace Car. 1,158 of the Purple and Yellow Corvettes were produced. It’s 10 years old now and the five year depreciation number for the Pace Car replica is -19%. However, the 1998 Corvette Coupe’s five year depreciation is -26% while the 1998 Corvette convertible was down -29% over five years.

1995 Indy 500 Corvette Pace CarThe news is even better for the 1995 Corvette Pace Car. Only 527 of these Corvettes were built and over the last five years, the Pace Car has appreciated 19% while the regular production Coupe was down -7% and the roadster was down -12% over the same time frame. The Pace Car’s appreciation is even higher than the 1995 ZR-1 which shows an 8% increase.

The second reason we like this year’s Pace Car replica is that it’s offered in either a Coupe or Convertible model, and the option choices will all but guarantee that there will be some interesting combinations when its all said and done. We already know that there are no major changes for next year’s Corvette model so that hurdle has been removed. And forget the “All Corvettes are Red” mantra. The Indy 500 Pace Car is finally back in black, the number one selling Corvette color.

Lastly, the Pace Car is signed and numbered by 2-time Indianapolis 500 winner Emerson Fittipaldi, making this Corvette only the third model in the car’s 55 year history to feature a signature. We’re still hoping that in the future this honor is reserved only for those who’ve had a direct impact on the Corvette and the enthusiast community.

So the final question you should be asking is where can I get one? We suggest getting in touch with Dave Salvatore at Kerbeck Corvette who told us they have several available. Dave can be reached at 1-877-537-2325 . Also, I’d be remiss if I didn’t thank Jim “Z” of Spitzer Chevrolet who was kind enough to answer our inquiries for this story.


Source:
Appreciation and depreciation figures on the 1995 and 1998 Corvette Pace Car from Vette-N-Vestments 2008 Corvette Pricing Guide.

Related:
Two Unique Corvettes to Pace the 2008 Indianapolis 500
Video: Unveiling the 2008 Indy 500 Corvette Pace Cars

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1971 Corvette LT-1 Coupe

More than a few eyebrows were raised when Mecum Auctions announced their 6-week run of “Muscle Cars & More” at the Indianapolis Fairgrounds with television coverage provided by Discovery Channel’s HD Theater. We saw the main challenge as being two-fold. Could Mecum keep a sustainable pipeline of quality cars coming in over the course of the 6-week auction run AND could they keep the interest of buyers who are used to the weekend auction fly-in (or drive-in)? We’re here to report a solid yes regarding the Corvettes and a definite maybe on the buyers.

After three weeks of auctions, Mecum has sold $1,774,000 of Corvettes. So far, 43 Corvettes have been offered and 29 have sold for a 67% success rate. Only 14 were unsold, but with Mecum’s “The Bid Goes On” program, its possible that several more of these Corvettes may move over to the sold column.

The quality of Corvettes at a Mecum auction is always strong and the Corvettes appearing at Mecum’s Muscle Cars & More on HD Theater is about what we’ve expected. Collectible Corvettes of various years have been made available each of the first three weeks, but it was week 2 that was the night for showcasing Corvettes. We saw a 1963 Corvette Coupe Z06 Tanker sell for $225,500 and a 1967 Corvette Convertible with a 427/435 hp L71 go for $160,000. Week 2 also featured a bevy of fuel injected Corvettes as well as several RPO 687 Big Brake C1 Corvettes. So the quality and variety of Corvettes available are there.

Which leads us to the quality of buyers. We got a friend to Tivo and copy to DVD the Week 2 auction that was heavy with Corvettes. We saw several familiar faces including Terry Michaelis of Proteam, David Burroughs of Bloomington Gold fame and Terry Malone from Corvettes of Dallas. The Week 2 auction also appeared to have a steady stream of telephone and internet bidders, which we think would be a popular method of buyer participation in a multi-week auction format. With Corvettes selling successfully at a rate of 67%, our verdict on the quality of buyers week-in and week-out is a definite maybe and will be reevaluated at the close of the final auction next month.

So after three weeks of the six week run, here are the Corvette auction results from Mecum’s “Muscle Cars & More” TV Auction on HD Theater. Lot numbers starting A and J1 are from Week 1. B and J2 are Week 2 and C and J3 were sold on Week 3:

LOT YEAR MODEL SOLD HIGH BID
A2 1972 Corvette $18,000  
A3 1978 Corvette Pace Car – L82 4-Speed   $20,000
A6 1972 Corvette $16,000  
A19 2004 Corvette Convertible Comm Edt $29,000  
A40 1995 Corvette Convertible $13,250  
A45 1975 Corvette $16,000  
A46 1967 Corvette   $45,000
A53 1968 Corvette Convertible 427/435 $66,000  
J119 1986 Corvette   $24,000
J121 1986 Corvette Pace Car $8,500  
J125 1987 Corvette $6,500  
B1 1966 Corvette Coupe 427/390 $63,500  
B2 1995 Corvette Coupe Lingenfelter   $19,000
B3 1993 Corvette $10,750  
B4 1974 Corvette $19,000  
B9 1965 Corvette   $34,000
B12 1967 Corvette Convertible 427/400 $96,000  
B16 1977 Corvette T-Top $8,500  
B24 1962 Corvette Convertible $55,000  
B31 1956 Corvette Convertible 265/225   $74,000
B33 1958 Corvette Convertible 283/290 FI $125,000  
B34 1963 Corvette Z06 Tanker $222,500  
B35 1967 Corvette Convertible 427/435 $160,000  
B36 1962 Corvette Convertible 327/360 $135,000  
B37 1961 Corvette Convertible RPO 687 $132,500  
B39 1963 Corvette Convertible 327/360 FI   $86,000
B40 1958 Corvette Convertible 283/270 $94,000  
B41 1959 Corvette Convertible 283/290 FI $137,500  
B42 1962 Corvette Convertible 327/360 FI   $82,000
B44 1956 Corvette Convertible 265/225 $94,000  
B45 1963 Corvette Convertible 327/360   $67,500
J202 1964 Corvette Coupe 327/300 $35,750  
J204 1995 Corvette   $10,500
J210 1967 Corvette   $50,000
C21 1971 Corvette $13,000  
C24 1966 Corvette Convertible 327/300 $51,500  
C32 1971 Corvette T-Top LT-1 $46,000  
C37 1970 Corvette T-Top 454/390 $39,500  
C52 1967 Corvette Coupe 427/400 $51,000  
J315 1988 Corvette Coupe   $7,500
J316 1990 Corvette Coupe ZR-1 350/385   $20,000
J326 1995 Corvette Coupe LT1 350 $10,750  
J334 1970 Corvette Coupe 350/350   $14,500
         
    Total Corvette Sales (Week 1-3): $1,774,000  

Mecum’s live auction continues this weekend at 8pm Est on HD Theater.


Source:
Mecum Auctions
HD Theater

Related:
[VIDEO] Mecum Auction Results: 1963 Corvette Z06 Tanker
Friday’s Featured Corvettes for Sale: Mecum’s HD Theater Edition

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Corvette Racing in Long Beach

Johnny O’Connell and Jan Magnussen fought it out on the streets of Long Beach with their counterparts in the #4 Corvette C6.R and emerged victorious for the third stop of the American LeMans series. O’Connell and Magnussen’s #3 Corvette C6.R scored a 1.374 second victory over Oliver Gavin and Olivier Beretta in the No. #4 Corvette. With the win, Johnny O’Connell becomes just the third driver in the ALMS to score 30 victories.

“I first raced in Long Beach in 1986, so to finally get a win here 22 years later is very special,” O’Connell said. “Corvette Racing is the team that’s the most important in my career, and to show the performance of E85 ethanol racing fuel here in Southern California is a very cool moment.

“I was giving it everything I had,” O’Connell reported. “You see the competition in the pits between the two crews and how close it was between the Corvettes on the track, so it doesn’t take a big field of cars to make it an exciting race.”

Magnussen started on the GT1 pole and with Gavin close behind both drivers had to content with heavy traffic and debris along the 1.968-mile temporary race circuit. The teams pitted together under a caution after the first hour of the 100 mile race. The #3 Corvette with O’Connell made it out of the pits first and settled in to duel with the #4 C6.R and Olivier Beretta over the next 37 minutes. The lead stretched to 6.7 seconds at one point but Beretta was making up ground at the end. With the amount of traffic and lack of time remaining, O’Connell was able to hold Beretta off for the win.

“Long Beach always proves to be a great event,” commented Corvette Racing program manager Doug Fehan.” The two Corvettes battled all day long, both crews executed flawless pit stops, and the engineering team developed great strategies. We had another perfect run with cellulosic E85 ethanol, so it was just a great day for Corvette Racing and for the environment.”

The victory at Long Beach gives O’Connell and Magnussen a four-point lead (66-62) over Gavin and Beretta in the GT1 Driver’s Championship.

Corvette Racing will see its next action on Sunday, May 18 for the Utah Grand Prix held at Miller Motorsports Park near Salt Lake City. Racing begins at 1:00 PM Mountain Time and Speed with televise the two-hour, 45-minute event live at 3 p.m. ET.


Source:
Photo Credit: American LeMans

Related:
Corvette Racing: Magnussen Scores Pole at Long Beach
[VIDEO] Corvette Racing: A Day at the Races

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Corvette Z06 Black Edition by Geigercars

by Keith Cornett on April 19, 2008

GeigerCars Corvette Z06 Black Edition

German-based Geigercars was already well known in Corvette tuner circles for their performance engine enhancements and wide body kits. So when they turned their attention to the Corvette Z06, something special was bound to happen. GeigerCars calls it the Corvette Z06 Black Edition.

The Corvette Z06 is already ahighly tuned machine with 505 horses available for the driver. GeigerCars managed to up the performance of the LS7 7.0L V8 to a whopping 592 horsepower. And then there’s the body. The Z06 Black Edition matches the car’s sinister performance with a blacked out body. Very intimidating. The only trace of color comes from the red brake calipers behind the black 5 Spoke Corvette rims. The rear fascia has been redesigned and features a set of smaller diameter taillights that remind us of a Ferrari. And while its different than a stock Z06, we’re okay with it.

GeigerCar's Corvette Z06 Black Edition GeigerCar's Corvette Z06 Black Edition
 
GeigerCar's Corvette Z06 Black Edition GeigerCar's Corvette Z06 Black Edition

Sources:
WorldCarFans.com via AutoBlog.com

Related:
New Callaway Corvette Package Stands up and Delivers 580 hp

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Corvette Racing: Magnussen Scores Pole at Long Beach

by Keith Cornett on April 18, 2008

Corvette Racing in Long Beach

Corvette Racing’s #3 C6.R will be sitting on the pole this weekend for the Tequila Patron ALMS race at Long Beach thanks to Jan Magnussen. Magnussen put together a qualifying lap on the temporary circuit Friday at 1:17.059 (91.940 mph) shattering last year’s qualifying time by 1.086 seconds. Oliver Gavin and the #4 Corvette C6.R were second in the class with a lap of 1:14.465 (91.458 mph).

Bell Motorsports Aston Martin DBR9 did not have a qualifying time listed on today’s results.

“It was a really enjoyable lap – I was out there close to the walls, braking late, and riding the curbs,” Magnussen said after notching his seventh career ALMS pole. “I’m sure I could have massaged the lap a little bit and improved my time, but then you get into the gray area where you might have a faster lap or you might have a broken car. “We’ve been fast since we got here,” said the Dane. “We were faster than last year from the get-go.”

Magnussen employed a five lap strategy that appeared to pay off.

“I was very cautious during the first three laps because we’d set the tire pressures a little low to try to have a couple of stabs at the pole,” Magnussen explained. “It worked out well – when the Michelins came in, my Corvette was perfect.”

The Tequila Patron ALMS race at Long Beach starts at 4:10 p.m. PT on Saturday, April 19. ABC will broadcast the 100-minute race tape-delayed from 12:30 to 2:30 p.m. ET on Sunday, April 20.

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