SilverScorp

I teach at a University, and I can tell you that the majority of immigrating millennials (and their parents) don't buy American cars because they think that are unreliable. Most of them buy foreign cars when they graduate college. Sure, American millennials will want to buy American cars, but there is much pressure from the social crowd to buy a non-american car. Most of them buy a cheap non-american car to start and move there way up to the Audis, Mercedes, and other foreign vehicles by leasing at first and then outright ownership.

GM is totally out of touch with the younger crowd. If GM wants the millennials to buy Corvettes, they NEED to drop the price. Jacking up the ZR1 base model price doesn't bode well for GM. The best thing they could do is make either an all electric or a hybrid version, which I think would bring in the millennials.

Internets_Ninja

I for one don't care if millennials aren't buying Corvettes. If BM did anything to make it more likely that a millennial would buy one then it would likely mean they would be making it less likely that I would buy one. Plus I think that GM put the Camaro in the market for the millennial. I see a ton of millennials driving the new Gen 6 camaro where I live.

Performance and price puts it right in the sweet spot. There is a small crowd of younger Corvette owners where I am from too, but most of the time its the 50+ crowd with convertible Grand Sports enjoying a cruise that have probably never gone full throttle.

OVR60

Try the Macan Turbo.

UsernameProtected

Honestly, in my opinion, pretty much no one in their 20's and early-mid 30's should be buying any vehicle that's $50k...or even $25k. Those are years that should be dedicated to building a solid education and financial foundation...not paying GM's pension and health care liabilities, and throwing away potential investment capital on depreciation, interest, and property taxes.

Of course, if everyone did that, we wouldn't have to watch interviews on the news of workers sobbing that their employer laid them off when times got tough.

ETHYL

You wouldn't know that if you worked at Cape Canaveral during the 1960's. Practically every engineer like myself had a Corvette. Every morning it looked like a parade going and leaving work. We all had Corvettes. My first one was a 65, my 5th one is a 2014. Yes today is a different time.

thill444

It's an impractical 2 seater sportsccar that has high gas and insurance costs. For most people it's a toy. Yes money is a factor, but it's not even close to the most important factor.

JerriVette

Actually gas mileage in the corvette is pretty dam good and insurance is really cheap...

Gas mileage is 15 around town hot ******* it and 27 mpg on the highway cruising..,

$750 a year in NJ with full coverage. Same as my Cadillac..l

The two seater thing really holds back the new generation. They believe in traveling in packs...

Porsche rear engine 2 plus 2 does sell better than the two seater boxster or cayman...

Not to mention better than the mx5, fiat 124 , jaguar f type...

Two seaters just lost favor with the kids today....

They really like 5 seaters and four door vehicles to carry their friends...

Zidane

31 here. On my fifth Corvette; 2015 Z06/Z06 with an M7.

roadbike56

A couple things to consider. In the late 60s, early 70s a new Corvette could be purchased for around $30K in today's money. I'm sure if a new, base Corvette sold for that kind of money today, it would be extremely popular.
Also, consider that Boomers grew up when higher paying jobs in the US were plentiful, that's not true today not to mention the cost of a college education has skyrocketed. Consider that a Boomer could get a 4 year degree at a private college for around $64K in today's money. Millennials would consider themselves very fortunate to go to a bargain state school for that kind of money. A private college/university today can easily run over $120K for a four year degree.
That difference alone would be enough to purchase a new, base Stingray.

joeking

I see lots of F-150's here. If they don't buy the Ford they will get a Chevrolet or a Dodge. Gas is cheap and 4 door trucks are very practical in the Midwest and hold their resale very well. I think with all the higher horsepower 4 door vehicles these younger kids don't really need the power of a Corvette to have fun or burn the tires. I had my first Corvette when I was 21 and it was a 1969 350/350 HP Corvette roadster blue with black interior and a white top. I made payments on that one and it was really a blast having a car like that at such a young age. Corvettes just are not very practical in the colder climates and kids paying for college and starting new jobs and a family just don't have the money for a C-7 for the most part. They can afford the older ones but don't buy those either.

JVM225

DGXR

A few things:
1) The newer generations are less interested in muscle and fast cars, they are greener and more "woke" so prius and hybrid SUVs/crossovers are mostly their vehicles of choice, if they drive at all.
2) Those few individuals in the new generations who are interested in muscle and fast cars, most cannot afford a brand-new Corvette. So they buy used models, which makes perfect sense. Why GM insists on marketing to a segment that has little interest in their product, I just don't understand. Most of my friends (35-60) think Corvettes are "midlife crisis" cars. I bought mine because it's tons of fun, I generally don't care what others think of me, I always wanted one, and now I can finally afford a nice one... just a coincidence that I'm middle-aged
3) I'm guessing maybe 2% of all new car sales are cash, paid in full. The rest depends on financing. Speaking of financing, 10 years ago a broke-*** loser could buy a $500k house regardless of his credit score. Consumer trends are heavily influenced by incentives, bank rates, interest, etc etc.


Popularity and attention in any form (especially social media) now provide the definition of self-worth... it's based on what everyone else thinks of you. So sad for the newer generations.

LoneStarLizzard

Lots of interesting observations in this thread. Here are mine:
1. Today's young people aren't as interested in cars (generally) as are prior generations. And most certainly proportionately fewer of today's young people are interested in enthusiastic driving than in prior generations.

2. Today's new cars are so technologically complex that working on them is problematic. A big part of the thrill of ownership of a Corvette has always been the ability to work on it, improve it, make it "my" Corvette. Technological complexity has killed that thrill.

3. In the "old days" kids' first jobs were at gas stations or similar places where they could learn about auto maintenance, etc. Those jobs are gone for good. Compared to older generations, a much greater percentage of today's twenty-somethings can't change a flat tire (in fact, don't even know where the car's jack is stored), never mind change their car's oil. Further, the cost of the tools (you need both metric and English sizes) and electrical test equipment required to work on modern cars is, itself, very substantial. And, of course, one needs a secure place to store all of those tools.

4. The "shrinking middle class" phenomenon is a major factor in lower enthusiasts' purchases of all new cars. While the OP laments lower sales of C7s, he ignores the fact that his lament applies equally to all other true "affordable" sports cars (e.g. Porsche's 2-seat sporting models, Nissan's Z car, the now-defunct Viper, etc.).

5. Financial capability to purchase a sports car is increasingly dependent upon having a well-compensated job. But those jobs require college education, and the cost of that education is the second most rapidly increasing cost for today's society (health care is first).

6. There's a sucker born every minute. Too many of today's college kids pursue degrees in fields that will not qualify the graduate for jobs whose compensation will be sufficient to even repay the student loans. And universities are mostly responsible for this, specifically allowing their students to borrow tuition money knowing full well that those students will struggle mightily to repay the loans. That borders on fraud.

7. Our society has swung massively to the left, and one of the consequences of this shift is that the pool of young adults interested in buying and owning new, fast cars is shrinking.

Of course, there's a back end to all of this, too. For at age 69 I am no longer part of Corvette's target market.

I bought my first sport car (a new Datsun 280Z) in 1977 and my first Corvette (new) in 1985 when I was 37 years old. I walked away from sports cars when my kids got old enough for me to prefer spending my time watching their soccer, baseball, etc. Then I turned to motorcycles when my eldest son was old enough to ride them (first Harleys and later true, high performance sport bikes - e.g. an Aprilia liter bike and a Honda CBR 1100XX Blackbird). In 2010, as a bored empty nester, I ditched the motorcycles and bought my second Corvette...a 2002 MY Coupe (with only 2,800 miles on the clock)...at a dirt-cheap price. I then spent 2X the car's purchase price upgrading the car's performance capabilities (power train, drive train, suspension) and its creature comforts (massively upgraded stereo/navigation, custom leather interior, etc.). Now I could have purchased a NEW Corvette for much less than I spent on this C5. But it was my choice to do what I did...I now have the car I always wanted...a classic body style that possesses today's advanced technologies and has performance capabilities rivalling those of a C7 Z06.

We designed and built our "retirement" house with the thought of me owning this C5 toy...a 3-car garage whose walls are pushed even further out to achieve the square footage of a 4-car garage. Now I can work on this car whenever I want. The wife's BMW sits beside my C5, and my new Explorer Sport stays outside, as all Fords are required to do.

In my life, I have purchased 66 new cars for myself, the wife, and my three kids (who are all now adults...the National Bank of Dad is CLOSED), and paid cash for all of their college educations (three bachelors degrees and three masters degrees)...no college debt here, ever!! And I did all of this courtesy of my own college education (BBA) paid for by my rich Uncle Sam (GI bill) as my reward for completing 4 years of military service. Today's youths are unlikely to duplicate my financial success armed solely with a bachelor's degree. And our left-leaning society frowns on youths interrupting their extended childhoods by volunteering for the military service that would pay for their educations (and give them 4 years of desperately needed maturity). Lastly, more than any prior generation, Millenniums tend to live way beyond their means. The words to a 25+ year-old Queen song sum up the behaviors of all too many of todays' youths: "I want it all, and I want it now!"

All of this says I AM NOT THE TARGET MARKET for GM's Corvettes. For while I have opinions, my 69-year-old buying tendencies aren't of interest to GM. The OP, likewise, isn't GM's target market. So his whining about the price of new C7s is falling on deaf ears. GM's C7 target market is (I predict) 35-to-50 year olds for whom a C7 is a third (toy) car. Younger (and older) buyers are welcomed, of course, but they aren't GM's marketing sweet spot.

Finally, I ALMOST bought a new C7 last month, but didn't. Why? Because I concluded that, at age 69, my probable remaining years of "safe driving" capability didn't make purchasing a new C7 a sensible action. My current C5? I put it in my will...a gift to my 35-year-old son (an Army Blackhawk pilot) who likes to own, drive and work on high performance cars, motorcycles, etc. My other two kids (ages 37 and 27) are classic Millennials...and my observations about their generation are duly noted above. It's how I know.

The Lizzard

boxster99t

About 3 minutes into this video, I lost count of the number of assertions that just are not true about the current Corvette or who buys them.

I personally think GM is damned if they do and damned if they don't. You may not attract younger buyers to the car regardless and end up with a car that the current demographic doesn't want either.

I don't own GM stock and as much as I like my C7, if the Corvette fades away, that's ok. Heck, I'm 56 and my Dad worked for Chrysler, and the C7 I have may be the last American car I buy--the C7 is a go to work on nice day convertible that's fast, looks amazing, and I feel like I can leave sit outside (garage is occupied by my 67 Corvette and 2006 PCA Club Coupe 2 of 50), park where I want, and not worry about. And when I sell the C7 in a few years, I'll stand pat with the 67 and Porsche which I am keeping until they die or I do.

Vette_Pilot

What about me? I'm a Boomer and I can't afford a new Vette either!!

SULLY2013

amuseti

What's most important is GM's own targeted audience. When you put a product to the market you target a specific demographic. Millennial ain't their target demographic, never has been, and probably never will.

jivor

Corvette is a brand, like any other it needs a following. Age groups will flock to what appeals to them, and not everyone is a sports car enthusiast. Now with so many options that appear to ape performance, since most drivers can't distinguish speed from agility, not a whole lot of buyers will be interested in a domestic two-seater heritage vehicle that does not lend itself to being the family car.

I suggest that the following must evolve, say hello Corvette SUV. Don't fall over, Porsche piggy-backed the popularity of said vehicles, I'm looking at you Cayenne and Panamera, to build a broader buyer base and further develop their sports cars. Heck even Lamborghini has one, what does that tell you? Also, electrify Corvette to compete with the rolling tide.

In the end, the purists benefit, as more company profit finds its way to them. A mid-engine Corvette is on the way, and hopefully will be part of a concerted GM strategy to expand the brand.

Higgs Boson

Corvette is a brand, loosely defined, but it is not a make. Corvette is a Chevrolet and Chevrolet has many models. We do NOT need a Corvette SUV or sedan or otherwise. Corvette is a MODEL.

Porsche is a brand, it is the MAKE. The Panamera or Cayenne are not 911 variants.

JerriVette

Levaging of an iconic name or brand is smart business.

Corvette is such an iconic name it is in and of itself a brand.


But don't worry GM won't follow through with the suggestions mentioned in this thread....the out of the box solution to Chevrolet branding weakness is not acknowledged in GM headquarters as they are insulated in a way to reality outside of the mid west.

Possibly but who knows anything is possible with new GM..they might one day surprise us.

I'm all for a jaguar I pace competitor from the corvette team and GM head honchos.

I still remember the Porsche faithful denouncing the cayenne as it launched. That vehicle literally saved the Porsche sports cars as well.

Outside the box