We talk a lot about the entry-level price point for the C8 Corvette. After all, it’s hard to fathom how Chevrolet offers such a fantastic sports car starting at $59,995 that rivals competitor’s cars costing two to three times as much.
Now we are learning that most buyers of the C8 Corvette probably aren’t all that concerned about the starting price as a new report claims that C8 Corvette buyers are even wealthier than those who purchased the previous C7 generation. That tidbit comes from GM’s North American Vice President Steve Hill who spoke during a recent media engagement attended by GM Authority.
In his discussion with the media, Hill says that the median household income of a mid-engine Corvette buyer is $76,000 higher than those who purchased a C7 Corvette.
That higher income and the ability to purchase the higher trims and additional options led to a majority of 2020 buyers selecting a 3LT Corvette (46.8%) vs the 2LT (39.1%) or base 1LT package (14.5%).
It was during that same discussion that Hill disclosed that two out of three C8 buyers are new to Chevrolet, with C8 customers also cross-shopping the Porsche 911 among other vehicles.
With interest still high and brand conquests underway, the Stingray has been a great introduction to the C8 Corvette line-up. Now it’s up to GM to continue to deliver on its promise to provide exceptional performance and upscale luxury on future models that will continue to appeal to wealthy buyers but can still be attained by the everyday American worker.
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GM Vice President Steve Hill Says Most C8 Corvette Buyers Are New to the Chevy Brand