C7 Corvette Sales Continue to Trend Downward

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C7 Corvette Sales Continue to Trend Downward


Starting the 2nd quarter of 2018, General Motors changed from monthly sales reporting to quarterly reports that unfortunately are not broken out by each month.

Thanks to a post over at GM Inside News, we’ve learned that U.S. Corvette sales in October 2018 totaled 1,382 units which were higher than the 1,345 Corvettes sold in October 2017.

For the 2018 calendar year to date, a total of 16,263 Corvettes have been delivered in the USA – a 20% decline from 2017 which saw 20,236 Corvettes sold during the same time period.

These are unofficial numbers but they do appear to come from an internal GM sales report and the totals track with the most recent 3rd Quarter 2018 Sales Report.

What we are seeing today has shades of late 2012 when the 2013 Corvette was the last model year of the C6 generation and everybody knew that the C7 was coming. In those final months, which by the way was both an Anniversary Year (60th) and featured the one-year special edition 427 Convertible, the final quarter of 2012 saw only 3,562 Corvettes delivered.

If sales quantities are similar this November and December to October’s 1,382 deliveries, we are looking at 19,027 Corvettes delivered in the calendar year, That would be a decline of 24% over 2018’s 25,079 calendar year deliveries and 36.5% from the 29,995 Corvettes sold in the USA in 2016.

Also perplexing is that Chevrolet isn’t offering any rebates or incentives to support 2019 Corvette sales (or remaining 2017s and 2018s either).

We checked in at Chevrolet.com to see the current offers for Corvettes…crickets. The only “offer” is an Ultra Low-Mileage Lease for qualified lessees at $599/month for 39 months (with $5,789 down).

Chevrolet is in a bind much like they were in late 2012 (or 2004/1996/1982). The new C8 Corvette is on the horizon, but they can’t talk about it lest they completely torpedo the sales of the C7.

My friend John from the Mid Engine Corvette Forum makes an even more ominous comment about declining C7 Corvette sales for those of you who want to see the C7 and C8 Corvettes sold side-by-side:

For those who are thinking that such progressive, sharp, annual C7 sales declines point to a reduced percentage chance that C7 FE [front engine] sales would continue next year, these numbers support your thesis.

At this rate, it looks like dealers will be selling the C7s and C8s alongside each other, but those C7s will come from remaining dealer inventories until they are all sold out.

Here’s the GM Sales Report for Corvettes in the 3rd Quarter of 2018:

Corvette Delivery Statistics for 3rd Quarter 2018
Quarter Calendar Year-to-Date
Quarter 2018 2017 % Change Months 2018 2017 % Change
Q3 4,639 5,184 -10.5% Jan-Sept 14,881 18,891 -21.2%


Corvette Sales Monthly Archive:

Archived Monthly Corvette Delivery Statistics
Year Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Total
2018 1,005 1,351 2,101 — 5,758 — — 4,639 — 1,382     16,263
2017 1,263 2,081 2,460 2,756 2,535 2,612 1,930 1,748 1,506 1,345 2,565 2,278 25,079
2016 1,501 2,116 2,753 3,142 2,673 2,483 2,159 3,063 2,829 2,626 1,941 2,709 29,995
2015 2,127 2,605 3,785 3,469 3,514 2,807 2,794 2,725 2,572 2,526 1,952 2,453 33,329
2014 2,261 2,438 3,480 3,514 3,328 2,723 3,060 2,679 2,467 2,959 2,378 3,552 34,839
2013 908 980 1,053 974 905 853 671 655 831 3,929 2,527 3,005 17,291
2012 629 927 1,376 1,396 1,219 1,475 987 1,210 1,351 1,167 1,104 1,291  14,132
2011 721 955 1,163 1,454 1,304 1,299 1,291 936 1,147 946 910 1,038 13,164
2010 854 624 955 1,089 1,428 1,405 1,199 1,135 1,109 1,011 836 979 12,624
2009 842 1,027 1,183 1,407 1,643 1,396 966 746 1,585 1,154 952 1,033 13,934
2008 2,015 2,071 2,692 3,190 2,904 2,082 1,870 4,242 2,318 1,170 1,093 1,324 26,971
2007 2,234 2,784 3,158 3,227 3,300 2,377 2,377 2,877 2,837 2,484 2,438 2,914 33,685
2006 2,579 3,058 3,655 3,516 3,317 2,938 2,794 2,990 3,056 2,761 2,773 3,081 36,518


Our sales results posts GM sales reports are sponsored by Kerbeck Corvette in Atlantic City, NJ. Talk to one of Kerbeck’s Corvette Specialists and get behind the wheel of your Corvette dream today. To view Kerbeck’s inventory of Corvette Stingrays, Grand Sports and Z06s, click here. Visit Kerbeck Corvette on the web at www.kerbeck.com or call Dave Salvatore at 877-537-2325.


Source:
GM Inside News

Related:
GM Reports 4,639 Corvettes Were Sold During Third Quarter 2018
GM Reports 5,785 Corvettes Sold During the 2nd Quarter of 2018
The Top 50 Corvette Dealers of 2017 (through December 31st)