SMOKN C8

So, seeing GM still cranking out 100+ Stingrays a day, and many dealers are starting to see them "piling up" on their lots, are we now at market saturation and deep discounts are just around the corner? I can see massive discounts on all the leftover 2024s when we get into 2025 season if current inventory levels do not subside.

Will GM slow down the roll out of the 2024 Stingray and start cranking up the building of the e-RAY and the Z06? Which in turn should drive down the ADM on both of these and start reducing the backlog/waitlists.

All this is starting to make me wonder how hard the value of my 2023 is going to crater and when to hit eject (never intended to keep it long term).

Thoughts???

jbc1995fb

When did you intend to eject or dump it? It sure the heck isn't going to go up in price.

SMOKN C8

Before the warranty runs out...

Guessing when to eject is the same as trying to figure out when to make a trade in the market....

See8

If you view your transportation as a commodity, then I would advise selling it today! Because it is likely NEVER going to be worth more than it is right now.

direct007

If history is any guide...Yes, discounts are around the corner across the board. We are already seeing discounts at some dealers (limited inventory and allocations). When MacMulkin and Ciocca begin offering discounts...they are the market makers and it will most likely be sooner than later before they start offering discounts. I wouldn't say the value of your car is going to "crater" but the days of getting MSRP for a used car are well behind us. Typical depreciation has already kicked in so enjoy your car as the biggest hit is in the first 3 years of ownership.

BasicMember

Dealers are already discounting. When their inventories reach numbers they are comfortable with and slow orders then GM will increase incentives to dealers and if that doesn't increase orders then GM will offer incentives direct to the public.

To the OP: will you be trading for another vehicle or selling outright. If selling outright to a dealership hang on to your scalp.

To think that less than a year ago the local dealer wouldn't extend price protection and now he has one that isn't moving. While being first in line I've moved on. In this economy I've decided to buy something that should hold value a bit better and be less trouble in owning. Is that a trend, I don't know but I imagine I'm not the only one.

C5racecar

Sounds like we are past the peak of the crazy prices. Several people have posted buying for under MSRP in the last few months.
I saw a post yesterday that showed the dealer ad -$5100 That is amazing.

Not sure about the value of my 23. I plan to keep it until C9 so it does not matter.
There is nothing else I want to drive.

Bluehinder

You should sell it now, ahead of blood in the streets.

cor28vettes

I tried to forecast new gen C8 prices yrs ago and failed big time.

Pisswilly

A “bloodbath” is on the way!

rackemup

"Bloodbath" is unlikely but normal Corvette depreciation should logically be expected going forward with new Sting Ray discounts from MSRP in play. Absolutely nothing surprising here and the Z06 era of realistic pricing is on deck.

JABCAT

GM produces what is ordered by dealers. Dealers know there are more potential buyers for the cheaper Stingray than there is for the ERAY & Z06 so that is what they order. Even at a discount they should sell more Stingrays thus making more $, which is the only objective of the dealer.

steve8

I'm buying either a 5 or 6 year gmpp next week on my 22.
Whatever its worth whenever I sell it so be it.
Did you not think the value would drop?

SMOKN C8

I never said anything that would indicate that I never expected a drop in value. I asked if the market was flooded and if we were going to see HUGE discounts coming.

I never intended to make money but if they start selling 2024 at say, $20k UNDER, then yes, I might escape the market ahead of that....

I also asked, when will the slow the production of the Stingray and ramp up to more e-RAY ad Z06. I want a Z06 but am waiting for that market to crash before I buy in too...

BasicMember

Let's take a contrarian view, the FED lowers rates and our exuberance exceeds common sense as it has for the last 10 years plus. The government will continue pumping cash into the system so this could very well happen. Or we sink into recession and everyone pulls back. Which scenario makes more sense to you. No one knows after all. Now if you sell what will you do with the cash and how much is that cash depreciating. Maybe not much better than the value of your car depending on time frame and whether it is invested where it will make money above the inflation rate. I think we'll lower rates and tolerate a higher inflation rate and we'll all suffer less buying power. Well, it is kind of inevitable at this time. So consumables may fair better than they have historically.

Cerulean

My guess is that invoice would be the new MSRP and by late this year you'll definitely see loaded examples with unpopular options selling for >10k off

Rocketmanwpb

Sorry these cars are fun toys I really don't consider resale when I buy them. That being said after five years of production GM is catching up with demand, things are going to change no doubt.

Keppler

I have to disagree with the bolded.

The C8 Stingray inventory is exceeding sales thus the recent discounts.

The wait list numbers for the Z06 and ERAY are high. There are buyers on a list for every Z06 and ERAY that Chevrolet can produce for the next few years at MSRP and higher.

Chevy should lower production for the Stingray and increase production for the Z06 and ERAY.

Bluehinder

Never sell a car you enjoy. Resale considerations is stupid.

SW-Vette-Dan

It’s all relative. Yes the corvettes are coming down, so are all the other cars and trucks on the market. This market correction is long overdue in my opinion.