Some people were worried that the new mid-engine Corvette might cause the value of the seventh generation to drop sharply.
But so far, so good for the last of the front-engine Corvettes, at least according to the C7 Corvette’s first-place finish in the latest J.D. Power 2020 U.S. Resale Value Awards.
The awards determine how much vehicles go down in value over the first three years of their lives, and the 2017 Corvette emerged with the lowest level of depreciation in the Midsize Premium Sporty Car, beating out runners-up Nissan GT-R and the Porsche 911.
“Our transaction database shows which models have the lowest depreciation costs, hence providing consumers with a key component in the total cost of ownership of the vehicle they plan to purchase or sell,” said the general manager of vehicle valuations at J.D. Power, John Banks. “Currently, wholesale prices remain strong and we expect prices will be greater than pre-virus levels by year’s end. However, given the volatility of the market, it’s more important for consumers to factor this information into their purchase decision.”
To reach its conclusions across all categories, including some 270 different vehicle models, J.D. Power analyzed more than 592,000 dealership wholesale transactions. It divided each vehicle’s wholesale price by its original purchase price to find the amount of depreciation in the three years since it was first sold.
The 2020 J.D. Power U.S. Resale Value Awards:
Source:
J.D. Power via gmauthority.com
Related:
GM Ranks as Top Automotive Company in J.D. Power’s 2020 Initial Quality Study
Corvette Beats Porsche to Win J.D. Power’s 2015 APEAL Study
C8 Corvette Named One of Kelley Blue Book’s 10 Most Awarded Cars of 2020
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