February's Corvette sales were very similar to January's number with just over 2,000 Corvettes being delivered. The Year to Year comparison is in stark contrast to the month to month figures with a change of -25.6% from February 2007 compared with February 2008. So what the heck is going on with Corvette Sales?
My analysis is purely antidotal based solely on the public data I have access to but this is what we are seeing. There has been a drastic reduction in new Corvettes being delivered over last year. Secondly, the amount of new 2008 Corvettes available has grown by nearly 1,000 units to 6,455 in February compared to January's 2008 Stock Report.
External factors play an important role in sales of sports cars. Adverse weather conditions throughout much of the country can dampen sales as well as growing concerns with a slowing economy.
If the current selling trends remain constant over the next four months, then 2008 could possibly have the lowest model year production total since 1997's introduction of the C5 Corvette. Unless Chevy reduces output and allows the market to absorb the cars that are currently on the ground it's likely well see incentives to move the 2008's and make way for the 2009's that will begin to hit dealers in late summer.
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%
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 6,455 2008 Corvettes on the ground. That's an increase of 975 Corvettes compared with January's 5,480 total.
- 3,695 Corvette Coupes
- 1,353 Corvette Convertibles1,407 Corvette Z06
According to the site, there are 1,191 2007 Corvettes still available at dealers across the nation.
Source:
GM.com
JeffHardy.com
Related:
January 2008 Corvette Sales
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February 2008 Corvette Sales
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