Despite the conventional wisdom that C7 Corvette sales are down because of the impending arrival of the next-generation C8 Corvette, we learned earlier this month that Chevy dealers sold an unofficial 1,800+ new Corvettes in May 2019 as enthusiasts took advantage of huge mark-downs and incentives to get behind the wheel of the new car.
That trend has been documented by the folks at einventorynow.com that manages inventories for dealers. The B2B firm says that new Corvette inventories have fallen to 7,045 in June with the total number equating a 98 day supply.
That’s a much faster sell rate than what we saw back in February when einventorynow.com showed Corvette inventories to be greater than 9,000 Corvettes with a 232-day supply available.
The industry uses the “Day Supply” numbers for calculating the number of days for dealers inventories to be completely sold based on the current rate of sales.
Since April, Chevrolet has offered a $3,000 loyalty bonus for 2019 Corvettes while a 0% APR financing offer for 72 months was available for 2018 Corvettes.
New Corvette buyers will have a further opportunity to put a dent in existing Corvette inventories as the plant will soon take its annual 2-week summer holiday from June 22-July 7th.
Production of the C7 Corvette is expected to run into August and perhaps even into early September. It’s widely believed there will be a two-month pause between the end of the C7 and the beginning of C8 production which is expected to start the first week of December.
Chevy Keeps the Incentives Rolling for 2018 and 2019 Corvettes
Chevy Keeps the $3,000 Loyalty Bonus for Corvette Buyers in June
Inventories Remain High with 9,055 Corvettes Available Nationwide