New Corvettes selling for below sticker? Check this out.

J.A.
By J.A. Ackley
May 22, 2024 | Chevrolet, Chevrolet Corvette, sales

Photograph Courtesy GM

How often do you see cars selling above sticker? Nearly all the time, right? Well, a recent Facebook post from a Michigan-based dealership manager featured brand-new Chevrolet Corvettes selling below the sticker price, at roughly a 10% discount.


Alan Johnson, Auto Performance Manager at the LaFontaine Automotive Group posted a Chevrolet Corvette Stingray Convertible 1LT, which goes for $80,305, marked down to $72,403.61. A Convertible 2LT that sells for $98,895 is now $88,807.42.

That’s just a sampling of the deals. Is the car sales market cooling down?

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Comments
Colin Wood
Colin Wood Associate Editor
5/22/24 1:54 p.m.
J.A. Ackley said:

Is the car sales market cooling down?

We can certainly hope so. Keeping my fingers crossed for more good news.

wearymicrobe
wearymicrobe PowerDork
5/22/24 2:33 p.m.

Even Z06's are sitting on lots at or below MSRP. Lot of car for the money. 

 

I think  agood number of buyers moved over to the Zora or dropped out as no money to made in flipping them now. I am very tempted with the Z06 but it would have to be a HTC. 

calteg
calteg SuperDork
5/22/24 2:48 p.m.

Even the base Corvette is an insane value, especially if you can get one below MSRP.

Used cars have depreciated 5.9% since January...looks like La Fontaine group is doing the smart thing and clearing out inventory before the market slows even further

DeadSkunk  (Warren)
DeadSkunk (Warren) MegaDork
5/22/24 3:10 p.m.

My local Chevy store is a Lafontaine. Red 1LT is on sale for $71,685, $5K below MSRP., a supercar for pickup money.

theruleslawyer
theruleslawyer Reader
5/22/24 3:39 p.m.

The best thing is it will push c7 and c6 prices to more sane levels. 

ClearWaterMS
ClearWaterMS HalfDork
5/22/24 3:57 p.m.
theruleslawyer said:

The best thing is it will push c7 and c6 prices to more sane levels. 

not if you own a C6 :(

triumph7
triumph7 Dork
5/22/24 4:22 p.m.
ClearWaterMS said:
theruleslawyer said:

The best thing is it will push c7 and c6 prices to more sane levels. 

not if you own a C6 :(

Only if you're looking to sell.  If I were, I could still make money on the one I bought in January.

I think more that it comes down to economic uncertainty and rampant inflation and high interest rates.  The danger (to car guys) is that if prices drop too much and Corvette becomes a loss leader then it becomes likely to join the Camaro in the bin.  The Corvette, in reality, has stayed attainable.  The MSRP of the Corvette has historically reflected the US median income... Lyle from C&S Corvettes covered this in one of his videos a couple months back (but I couldn't find it)>

mfennell
mfennell HalfDork
5/22/24 5:14 p.m.

Ciocca Corvette (was Kerbeck) has 120 cars in stock all with discounts of ~$5-7k.  No Z06s as far as I can tell.

Tyler H
Tyler H GRM+ Memberand UberDork
5/22/24 5:35 p.m.

Anything that isn't a halo car or bread and butter commodity isn't selling.  Dealer floorplans for unsold vehicles are expensive, dealers are turning down allocations and trying to hide excess inventory.

There are still unsold 2022 RAM trucks and 2023 F-150s new on dealer lots.

The halo stuff will hang in there because the wealthy thrive in hard times.  All the stuff in the middle is going to crater.  Commodity cars will keep moving because people need them.

If you're lucky enough to be in the market for something in the coming months, you should get a great deal!

 

Wally (Forum Supporter)
Wally (Forum Supporter) GRM+ Memberand MegaDork
5/22/24 6:06 p.m.

Ugh, I hate being a responsible adult instead of the shiny happy person driving a new Corvette in a blizzard because it's his only car. 

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