With a new generation of Corvettes on the horizon, it's not surprising that the C7 generation models are not selling particularly well. According to GM's sales report, only 800 Corvettes were sold in January of this year, which is a new record month for the new generation. While it may seem obvious that Corvettes are not selling well in winter, the Bowling Green plant is still busy pushing them out, and dealers are placing orders for them as often as ever. Once on the ground, they remain seated.
According to a report from CorvetteBlogger, the dealer inventory tracking software indicates that there are over 9,000 new Corvettes on dealer lots, representing a 232-day supply of the American V8 sports car.
So why are dealers still ordering Corvettes without moving their units? The answer is a ridiculous allowance system that rewards dealers who systematically order a high number of two-seater vehicles. With a new generation on the horizon, a much anticipated example of a central engine, dealers want to stay in good standing with Chevrolet so they can order a higher number of next-generation models.
By continuing to accept the delivery of their allocations, whether they sell or not, the dealer will not see its allocation number decrease with the new model. In the meantime, GM is not offering factory incentives to buyers to encourage a new purchase of Corvette, which only exacerbates the problem.
The C7 has been around since 2013 and more than 177,000 copies have been sold. The majority of people who wanted a Corvette probably already have one.
Again, these dealers may be expecting an impending storm when the plant will be closed for extended retooling of the new model. We will probably spend the summer without a new Corvette and these dealers with inventory will be considered prescient. Who knows?
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For the moment, if you want a new Vette, you are probably well placed to cope.