phalse

=D

RC81

Bound to happen, there's only so many suckers who will overpay out there. Once that sucker quotient is filled prices go down. Economics 101.

449er

Two old sayings come to mind..... "there is a sucker born every minute" & "a fool and his money soon part ways"

Khaberst

Great news since I’m looking to buy, but also hearing rumors Chevy might do another price increase around March. Wonder how that will be possible if the market is cooling.

Vetteman Jack

It only makes sense that prices were going to come down eventually - supply meets demand.

Greg00Coupe

I’ve heard that somewhere……but there’s are a group out there who have stupid money and when I’m around them I wonder who’s the fool! I have a barney job in a super rich community. Just last week I was chatting with an event planner setting up another wedding there. She commented their record wedding was $4m, and the marriage lasted 4 years! You got $4m to dump on your kids wedding, a c8 is pocket change.

StfDrmsRMadeOf

These “prices are tanking” takes don’t make any sense to me. Other than high spec’d 3LTs I can’t see any used C8 selling for less than $5k below MSRP. Most are still at or over MSRP because dealers are counting them being compared to the new higher MSRP. Given the prices C7 are still going for I just don’t see a significant drop happening.

The only way this makes any sense is if the prices are being compared to the early day mark ups over MSRP or if people thought the C8 was going to be like a Lambo or Ferrari and appreciate in value

trumanjd1

I ordered/PLACED a 24' 2LT Z51 IN JULY ...It was a bump up from my 23' order that was never built due to constrictions...I was price protected, so wasnt worried about price increase.
In January , when I placed my order, I was trading in my loaded 2019 LBR 2LT GS. 18K MILES..I was offered $67k trade in value....in August when I confirmed my order, dealer told me he could only offer me $56k....I shopped around other dealers for $$ appraisal and on line...only to find out if this was a fair value...and all the resources I checked...it was about right. I only drove on nice sunny days, no rain no snow, and Vette was serviced as recommended...even switched to all season tires that had only 8k miles on them, and had installed CarbTech brake pads at time of delivey and had them installed by dealer.BTW...I and my family have purchased over 40 vehicles in the past years..from this same dealer(I am a GM retiree)
Needless to say...YES values have gone down, and in my case seems to be the proof!

cwatson6

It's bound to happen.

ctk339

Never in history have cars held their value or increased in value after purchase. Corvettes have also historically had a pretty resale value as well and they’ve made over 50k cars last year

JJs Vette

Chevrolet will eventually slow production rather than reduce prices. I think the car manufacturers and dealers learned from COVID that they would rather sell fewer vehicles at more profit. The used market will continue to deteriorate.

Phil1098

I agree, the markets all go together and so everything will drop. What I mean is, C8s aren't going to fall out of bed and C7s stay where they are. Virtually no one would buy a C7 for the same money that they can get a C8 for because the C8 is so much more car. Will anyone buy a Challenger or a Mustang over a C8???? Maybe enough to count on one hand, but FAR from the norm. The drop is mostly due to ADMs dropping off. Once those are gone, there will be some depreciation of used.

As far as GM with another price hike, that's been their MO for more than 50 years. They FINALLY build a hot product, there is huge demand, the bean counters say "we can get more money for these", price hikes come until the demand falls off, and on some cars they end up killing them due to lack of sales (that THEY created due to greed and overpricing). Corvette has been a little unique in the fact that the majority of it's sales has been to the same group, a few new come into the fold, but not like any other car. This car has pulled in WAY more first time Corvette buyers than ever before with 2 out of 3 C8 buyers being new to Chevrolet. That said, they also don't have any brand loyalty or reason to stick around. It's like having a new group of friends that are shallow and are happy to have lunch, but if bad times hit, you can't count on them. Right now GM is absolutely drunk on the wild success of the car. They now have lists of E-Ray buyers, Z06 buyers, they know they have the next car in the wings (ZR-1, Zora, Super Humpback, whatever they call it). That gives strength to the bean counters to continue to raise prices. What started out as a hold your breathe launch at $59,995 has turned into "LOOK at what people are paying for these cars, we can ask anything for them and they will still buy!". Problem is, they have some issues, this whole debacle that is getting press in the news about new, paid for cars, being sent to Pontiac MI. for some unknown reason is FAR from comforting to the buyers. Why the secrecy, it only leads to speculation, were these cars sabotaged and GM has no idea how and what was done to the cars, is it a design change that didn't work out in the DCT, who knows, GM does but they aren't saying. WAY too many issues with Z06, from ticking engines, engine failures, the DCT problems STILL after 5 years of production, etc, is something less than comforting to prospective buyers. There are some SR owners that are on their 3rd DCT, maybe they should have attached it with Velcro to speed up the replacement. It's not all doom and gloom, but it is far from rays of sunshine either and if they don't right the ship on problems, a LOT of potential buyers will get spooked to the point of going elsewhere for a toy that nobody needs. Raising prices is a slippery slope that can't be reversed, three years from now GM can't say "we got greedy, the price has been lowered $10k" because the last buyer that didn't get the $10k drop got screwed.

Samuel Clemens

How do they slow production when they have a new union contract to pay for? The car manufacturers are between a rock and a hard place. Yes they saw prices skyrocket during Covid and low supply. They got us weened off of paying less than MSRP and in many cases paying an ADM. I don’t think they can easily start idling plants now to reduce their supply. The unions won’t go for that and they are the ones in control these days. Sam

bthibodeaux

P.T. Barnum.

sprtplt

That number was ridiculous then and now.

StfDrmsRMadeOf

Do you have any idea how much they turned around and listed it for? I think its a safe bet it was in the mid $60k range. But yes of course the prices have come down compared to the over MSRP range, my argument is that no one should have considered those prices as serious in the first place. Great for the few who took the opportunity to cash in but it was never sustainable and I just don’t consider losing less than 10% of MSRP in the first 3 years to be prices tanking. I used to but used Cadillacs for almost half of MSRP after 3 years. That is what I’d think needs to happen to make these claims accurate, maybe thats just me.

tadda

Thankfully I never purchase any of my sports cars with resale or depreciation in mind, so this really isn't a big deal to me...

Phil1098

Before I placed my order for my 2020 SR, I told my wife I just want something that seems a bit special, but not can't park it at a restaurant Ferrari like. I also told her if after three years it had depreciated $10-15k, I'd be fine with that. I'm guessing I can still get $48k for mine so I'm good.

MKC8

If he knew anything about finance and investments, he wouldn't be trying to make a living off of youtube channel clicks.
He'd be lying on the beach in Fiji.

"Follow me on Instagram / fourwheeltrader Contact me fourwheeltrader@gmail.com"

Seriously???

MitchSpence

Exactly. If your concerned about depreciation, autos are not the place to be.