Let's see how many C6's sell in 60 days (plant shutdown)
12-23-2008, 10:56 PM
#1
Team Owner
Thread Starter
Let's see how many C6's sell in 60 days (plant shutdown)
LATEST UPDATE page 15 - post 298
I thought this would be interesting. The plant closed today for the next 60 days. By following the Jeff Hardy site, we can see how many 2009's are selling.
Count updated 1/2/09
Convertible-----1,101
Coupe----------4,068
Z06------------1,694
ZR1---------------32
Grand Total-----6,895
I thought this would be interesting. The plant closed today for the next 60 days. By following the Jeff Hardy site, we can see how many 2009's are selling.
Count updated 1/2/09
Convertible-----1,101
Coupe----------4,068
Z06------------1,694
ZR1---------------32
Grand Total-----6,895
Last edited by jschindler; 02-25-2009 at 10:45 PM.
12-23-2008, 11:12 PM
#2
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Will be interested to see the results. But the plant shutdown shouldn't have much effect on sales. There's more than 60 days of inventory. I think every single car manufacturer would be wise to shut down until July and start making 2010's. Too much inventory out there now.
12-23-2008, 11:18 PM
#3
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St. Jude Donor '08-'09-'10-'11-'12-'13-'14-'15
I'll be interested to see how this plays out. Historically a slow time of the year for Corvette sales with an added measure of an economy in a serious recession ~ doubt any records will be broken. Lets hope for the best...could end up being a critical measurement for the remainder of the production cycle and pave the way for what promises to be some tuff decisions that are going to have to be made by leadership to secure the immediate future of the GM brand.
12-23-2008, 11:23 PM
#4
Life Time NCM #2196
With the sales being over 30k for the last few years, and 6537 on lots or on the way that is 20% of production about 3 months of normal sales and with the way the economy is maybe they half will be sold, I will be watching this thread and hope I am wrong on the more sold side
12-24-2008, 01:11 AM
#7
Inventory won't go down unless cars sell for less. Remember, new vettes are worth MORE now than just a short time ago-prior to the most recent in a long succession of msrp increases.
Why, I recall a recent post about a super deal on an 08 Z06 that listed for 83 something with the dealer pointing out that an 09 with identical trimmings would be 85 or 86 msrp.
The msrp on cars, light trucks, and SUVs have risen very rapidly during the past 10 or 15 years. This rise in msrp came at the same time credit was becoming ever easy to obtain. Income did not rise anywhere close to the rate of msrp nor did inflation.
The huge runup in msrp was accompanied by an increase in actual retail selling prices that tracked msrp increase but was somewhat to a great deal below it. People paid more for cars and accepted bloated msrps because they didn't care. They could refi an upside down car loan that would be even more upside down but nobody cared...not buyer, not lender, and certainly not DEALER.
People saw huge annual increases in the value of their homes and refied and "took cash out" repeatedly buying various luxuries that really were not affordable at their income level.
So msrps and selling prices continued to increase. So today the msrp of a new Z06 might be eighty five thousand dollars while it may actually sell for $65k. Problem is, sixty five thousand dollars is , in fact, actually, a lot of money. Most people who want vettes don't have that in cash laying around unused-some do but most would be buyers do not.
Vette sales over the plant shut down and sales of all cars will depend on price, availability of credit, and willingness of buyers to assume additional long term debt on a depreciating asset in very uncertain times.
No matter how many sell the interesting point to watch will be when the plant restarts....any plant for any line of cars......and IF it restarts in the model year 08 or waits until the '09 models.
And, in the midst of all this turmoil, msrps will probably continue to increase in not on the 08 then certainly on the 09......all the while selling prices are going down.
If this isn't good entertainment I don't know what is.
Why, I recall a recent post about a super deal on an 08 Z06 that listed for 83 something with the dealer pointing out that an 09 with identical trimmings would be 85 or 86 msrp.
The msrp on cars, light trucks, and SUVs have risen very rapidly during the past 10 or 15 years. This rise in msrp came at the same time credit was becoming ever easy to obtain. Income did not rise anywhere close to the rate of msrp nor did inflation.
The huge runup in msrp was accompanied by an increase in actual retail selling prices that tracked msrp increase but was somewhat to a great deal below it. People paid more for cars and accepted bloated msrps because they didn't care. They could refi an upside down car loan that would be even more upside down but nobody cared...not buyer, not lender, and certainly not DEALER.
People saw huge annual increases in the value of their homes and refied and "took cash out" repeatedly buying various luxuries that really were not affordable at their income level.
So msrps and selling prices continued to increase. So today the msrp of a new Z06 might be eighty five thousand dollars while it may actually sell for $65k. Problem is, sixty five thousand dollars is , in fact, actually, a lot of money. Most people who want vettes don't have that in cash laying around unused-some do but most would be buyers do not.
Vette sales over the plant shut down and sales of all cars will depend on price, availability of credit, and willingness of buyers to assume additional long term debt on a depreciating asset in very uncertain times.
No matter how many sell the interesting point to watch will be when the plant restarts....any plant for any line of cars......and IF it restarts in the model year 08 or waits until the '09 models.
And, in the midst of all this turmoil, msrps will probably continue to increase in not on the 08 then certainly on the 09......all the while selling prices are going down.
If this isn't good entertainment I don't know what is.
Last edited by OregonC6; 12-24-2008 at 01:14 AM. Reason: sp
12-24-2008, 01:38 AM
#8
OregonC6 makes some good points about MSRP outrunning value. I've been saying much the same thing. GM is pricing itself out of the market. Real selling price for Corvettes has dropped about 17%, and needs to drop about 15% more to match true market value.
As for sales, GM isn't going to sell a single Corvette until the factory reopens. Dealers (GM's only customers) have already bought every Corvette GM had on hand. It will be interesting to see how deeply dealers will discount in order to resell all of those Corvettes they've bought.
As for sales, GM isn't going to sell a single Corvette until the factory reopens. Dealers (GM's only customers) have already bought every Corvette GM had on hand. It will be interesting to see how deeply dealers will discount in order to resell all of those Corvettes they've bought.
12-24-2008, 08:08 AM
#9
Team Owner
I am not even sure why I should care how many Corvettes are sold. I am not trying to be sarcastic I just read all the post and I can not come up with any reason that make a difference to me one way or another. The economy is terrible so it reasons car sales will be terrible, GM and the others are all struggling but again I come back to what difference does it make how many Vettes are sold. I know it has some impact on resale values, and possibly the future of the Vette, but in the end to me no big deal. I have my Vette I enjoy it and when I grow tired of it I will move on to something else and deal with the marketplace whatever that looks like at that time.
12-24-2008, 08:13 AM
#10
Team Owner
Thread Starter
I am not even sure why I should care how many Corvettes are sold. I am not trying to be sarcastic I just read all the post and I can not come up with any reason that make a difference to me one way or another. The economy is terrible so it reasons car sales will be terrible, GM and the others are all struggling but again I come back to what difference does it make how many Vettes are sold. I know it has some impact on resale values, and possibly the future of the Vette, but in the end to me no big deal. I have my Vette I enjoy it and when I grow tired of it I will move on to something else and deal with the marketplace whatever that looks like at that time.
The second reason is that it will give us some idea as to what might happen two months from now. Depending on how much the inventory goes down we can get some insight as to what additional actions GM may have to take on the Corvette. Like offering incentives, additional plant shutdowns etc. Or maybe sales will be good and inventory will be worked down to a more normal level.
I'm always amused at people who post that they don't care about the resale value of their car. Unless you plan to be buried in it, you will some day. For me, I like buying a new one every couple of years. Resale value is THE key as to whether or not I can do that.
12-24-2008, 08:17 AM
#11
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NCM Sinkhole Donor
To be frank, I wish they would build fewer to keep the value up. The Z06 numbers tell me why they are discounting the heck out of them.
You always want to build one less than you can sell.
You always want to build one less than you can sell.
12-24-2008, 08:20 AM
#12
Team Owner
Thread Starter
OregonC6 makes some good points about MSRP outrunning value. I've been saying much the same thing. GM is pricing itself out of the market. Real selling price for Corvettes has dropped about 17%, and needs to drop about 15% more to match true market value.
As for sales, GM isn't going to sell a single Corvette until the factory reopens. Dealers (GM's only customers) have already bought every Corvette GM had on hand. It will be interesting to see how deeply dealers will discount in order to resell all of those Corvettes they've bought.
As for sales, GM isn't going to sell a single Corvette until the factory reopens. Dealers (GM's only customers) have already bought every Corvette GM had on hand. It will be interesting to see how deeply dealers will discount in order to resell all of those Corvettes they've bought.
Those costs have come way down now, but the impact to the price of a car is negated by the fact that sales are so far off - and many fixed costs are now having to be spread over much fewer vehicles.
I'm sure some people will take issue with this - but its really basic cost accounting.
12-24-2008, 08:20 AM
#13
Melting Slicks
12-24-2008, 08:23 AM
#14
Team Owner
If you don't care, that's fine. I made the post for two reasons. Because none are being built, it's a rare opportunity for us to watch exactly what cars are selling. Normally we can't do that because cars are added to the list every day from new production.
The second reason is that it will give us some idea as to what might happen two months from now. Depending on how much the inventory goes down we can get some insight as to what additional actions GM may have to take on the Corvette. Like offering incentives, additional plant shutdowns etc. Or maybe sales will be good and inventory will be worked down to a more normal level.
I'm always amused at people who post that they don't care about the resale value of their car. Unless you plan to be buried in it, you will some day. For me, I like buying a new one every couple of years. Resale value is THE key as to whether or not I can do that.
The second reason is that it will give us some idea as to what might happen two months from now. Depending on how much the inventory goes down we can get some insight as to what additional actions GM may have to take on the Corvette. Like offering incentives, additional plant shutdowns etc. Or maybe sales will be good and inventory will be worked down to a more normal level.
I'm always amused at people who post that they don't care about the resale value of their car. Unless you plan to be buried in it, you will some day. For me, I like buying a new one every couple of years. Resale value is THE key as to whether or not I can do that.
12-24-2008, 08:27 AM
#15
Team Owner
Thread Starter
Jim, I have no problem with your post and was just expressing how I feel about the situation in general on Vette sales. You are correct when it comes time to trade or sell my Vette the resale value will be of interest to me. It is just that with the economy the way it is I have reached a point where I just want to enjoy what I have and let this whole Auto industry sort itself out. I think many people will and do have an interest in following the data you have posted and I do not have any problems with that, my post was just my state of mind at this time.
12-24-2008, 08:29 AM
#16
Safety Car
I think the post is great
, beats the heck out of the typical.
1. Which headers are best
2. My battery died
3. Who has the cheapest price for "insert your choice"
, beats the heck out of the typical.1. Which headers are best
2. My battery died
3. Who has the cheapest price for "insert your choice"
12-24-2008, 08:48 AM
#18
Race Director
I think this an excellent topic Jim and I'm very interested in seeing the results! I think this is really a great time to buy a new Corvette, and if I lived in the US and had the money, I wouldn't let the economy (or the doomsayers) scare me away from buying one of those many cars in inventory on the lots! I don't think GM will go out of business, nor do I think the Corvette will be dropped.
If people would stop worrying so much and actually spend the money they've got, then the economy will recover much faster. The problem right now is that the media has hyped things up as being so bad that it's making people afraid to spend their money and that only makes things much worse!
So hopefully a lot of people out there will realize this, and spend their hard earned money on an awesome new Corvette!
If people would stop worrying so much and actually spend the money they've got, then the economy will recover much faster. The problem right now is that the media has hyped things up as being so bad that it's making people afraid to spend their money and that only makes things much worse!
So hopefully a lot of people out there will realize this, and spend their hard earned money on an awesome new Corvette!
