[VIDEO] Is the C8 Corvette Market Finally Cracking?

Has the C8 Corvette market peaked? That’s the question YouTuber Fourwheel Trader attempts to answer in his latest video which focuses on the current C8 Corvette appreciation and depreciation trends.

We covered a previous video from Fourwheel Trader about three months ago when he took a deep dive into the pricing analytics of the pre-owned Corvette market to see if he could determine exactly where the market was headed. At that time, overall used car prices were skyrocketing due to demand outstripping the supply, and that certainly applied to the C8 Corvette which has also been one of the fastest-selling new vehicles for most of 2021.

According to our host, the median market prices of C8 Corvettes have gone up another 4% over the last three months. Currently, he is showing 1,243 Corvettes for sale with a median price point of $107,000, and a breakdown of models being 70% Coupes and 30% convertibles.

However, the new data suggests the large price increases are less extreme and outliers are now priced closer to the rest of the market. As the trends in the used car market are beginning to stabilize, he thinks the C8 market is finally showing cracks which could lead to pricing coming down.

In his presentation, he shares a variety of charts and graphs to back up his hypothesis that the large price fluctuations are decreasing as the C8 market matures. However, don’t count on the C8 Corvette market crashing any time soon as the iSeeCars data showing that new C8 Corvettes are still the fastest-selling new vehicles in the USA.

Fourwheel Trader offered this in the description of his video:

Following high demand and limited supply, Corvette C8 prices skyrocketed during last year. This uptrend continued during the last three months as the median price point increased even further by 4%. However, as this video will show you, the first signs of a trend change start to appear.

First, we can observe that the upward price trend in the used car market came to an end. Used car prices didn’t increase during the last three months. Moreover, we can already see some price decreases at a more granular level. All of this is caused by an increase in used car supply and median mileage. Second, we can see that the price variation starts to decrease. Prices are less extreme and outliers are priced closer to the rest of the market. This usually signals that the market decided on the price. All of this fits within the larger market trends. Wholesale prices continued to decrease during July and the average time it takes to sell a used car bottomed out.

Yet, it’s unlikely that the C8 market will crash. It’s still the most popular car in the US and its sales numbers are miles ahead of the competition. Therefore, it’s more likely that prices will adjust gradually.

Note that all the prices are advertised prices.

Source:
Fourwheel Trader / YouTube

Related:
[VIDEO] C8 Corvette Market Update and Depreciation Analysis
Bob vs the Mob: Why Sit on the Sidelines When You Could Be Enjoying a C8 Corvette Today
[VIDEO] More on Pre-Owned C8 Corvette Values from Brink of Speed