[VIDEO] C8 Corvette Prices Still Falling, but There May Be a Silver Lining

Is the glass half full or half empty?

That’s the situation Corvette enthusiasts are facing right now in the C8 market.

It all depends on which side of the transaction you’re standing. If you’re a customer for a used C8, you’re in the “half full” category as prices are continuing to drop, according to the latest data-driven analysis of the market by the Fourwheel Trader channel on YouTube. That’s not necessarily the best news for the “half empty” crowd that already owns a Stingray or Z06 and wants to sell it, however.

In his new video, Fourwheel Trader notes that Stingray prices are 27 percent lower than their market top and are 11.4 percent lower than a year ago. The Z06 market, meanwhile, has plunged 27.4 percent over the past nine months and prices are still falling rapidly, according to FT.

Photo Credit: Fourwheel Trader

Even with the price declines, he notes, however, that “it doesn’t make these cars cheap. In relation to MSRP, prices are still high” – just not as high as they were in the good ol’ days of 2020-22.

He summarizes the overall C8 market like this:

“In the grand scheme of things, the situation is improving slowly in the Stingray market. We saw that the depreciation rate is still high compared to other cars but that it no longer sits in the 25 percent of cars that lost the most. Last year’s depreciation was also slightly lower than the preceding year. Moreover, we saw that cars are selling slightly quicker than last year and that unsold inventory is discounted slightly less. These are all signs that the worst drop is likely to be behind us and that it’s likely that we’ll start to see marginal decreases in the depreciation rates.”

But Fourwheel Trader still forecasts a continuing downward price trend for C8s and believes that bottoming-out prices “is not even a topic we’re discussing at this moment.”

And if you’re in the market for a front-engine Corvette, FT says he’ll be including the C7 market in his analysis during 2024. We’ll keep an eye out for those videos.

Source:
Fourwheel Trader

Related:
[VIDEO] C8 Corvette Prices Falling? Here’s the Latest Data Confirming the Drop!
[VIDEO] Have We Reached the Market Bottom for the C8 Corvette Stingray Prices?
[VIDEO] C8 Corvette Market Analysis Shows Prices Continuing to Drop

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