July 2008 Corvette Sales

By
Keith Cornett
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1072

Sales of New Corvettes continue to decline with July 2008 being one of the worst months on record in recent years. GM’s July sales report show only 1,870 new Corvettes were delivered, a decline of -10.2% from June 2008 and -21.3% over July 2007. For the 2008 Calendar Year, 16,824 Corvettes have been delivered, a decline of -16.4% over the same six-month period in 2007.

July has traditionally been a month where we witness some pullback in deliveries due to the model year changeover and the annual two week plant shutdown at the Bowling Green Assembly Plant. With record inventories on hand though at the beginning of the month, its unlikely that either the model year changeover or the plant shutdown played any role in the reduction of sales in July.

The decision by GM to offer 0% financing on 2008 Corvettes couldn’t have come at a better time for dealers or consumers. The offer includes all three models with 48 months 0% APR for Coupes and Z06s and 60 months 0% APR for Convertibles.

2008 Corvette Delivery Statistics
Month Calendar Year-to-Date
Month 2008 2007 % Change Months 2008 2007 % Change
January 2,015 2,234 -9.8% Jan-Jan 2,015 2,234 -9.8%
February 2,071 2,784 -25.6% Jan-Feb 4,086 5,018 -18.6%
March 2,692 3,158 -14.8% Jan-Mar 6,788 8,176 -17.1%
April 3,190 3,227 -1.1% Jan-Apr 9,968 11,403 -12.6%
May 2,904 3,300 -12.0% Jan-May 12,872 14,703 -12.5%
June 2,082 3,055 -31.8% Jan-Jun 14,954 17,758 -15.8%
July 1,870 2,377 -21.3% Jan-Jul 16,824 20,135 -16.4%


2007 Corvette Delivery Statistics
Month Calendar Year-to-Date
Month 2007 2006 % Change Months 2007 2006 % Change
January 2,234 2,579 -16.8% Jan-Jan 2,234 2,579 -16.8%
February 2,784 3,058 -9.0% Jan-Feb 5,018 5,637 -11.0%
March 3,158 3,655 -16.7% Jan-Mar 8,176 9,292 -12.0%
April 3,227 3,516 -0.6% Jan-Apr 11,403 12,808 -11.0%
May 3,300 3,317 -4.3% Jan-May 14,703 16,125 -8.8%
June 3,055 2,938 0.1% Jan-Jun 17,758 19,063 -6.8%
July 2,377 2,794 -11.4% Jan-Jul 20,135 21,857 -7.9%
August 2,877 2,990 -3.8% Jan-Aug 23,012 24,842 -7.4%
September 2,837 3,056 -3.5% Jan-Sept 25,849 27,903 -7.4%
October 2,484 2,761 -13.5% Jan-Oct 28,333 30,664 -7.6%
November 2,438 2,773 -12.1% Jan-Nov 30,771 33,437 -8.0%
December 2,914 3,081 -5.4% Jan-Dec 33,685 36,518 -7.8%


Corvette Stock Report:

A check of Jeff Hardy’s website shows a total of 7,162 Corvettes on the ground of yesterday. That’s good news considering at the beginning of July, that number had ballooned up to 8,760 Corvettes. We may already be seeing the effect of the 0% financing offer as we ran the numbers just three days ago and since then 330 2008 Corvettes were sold over the weekend. Here’s the current breakdown in 2008 Corvette inventory:

  • 3,781 Corvette Coupes
  • 1,742 Corvette Convertibles
  • 1,639 Corvette Z06

According to the site, there are 325 2007 Corvettes still available at dealers across the nation.


Source:
GM.com
JeffHardy.com

Related:
GM Offering 0% Financing on 2008 Corvettes
June 2008 Corvette Sales

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