C8 Corvette Prices Could Cool Off in the Next Six Months, Analyst Says

Demand still far outweighs supply, but diving into the numbers shows us that C8 Corvette prices are stabilizing.

Any time a new and desirable vehicle hits the market, we can expect a couple of things to happen. Demand generally far outweighs supply, which sends inventory levels plummeting and prices skyrocketing. This was certainly the case with the C8 Corvette when it launched last year, and we’ve seen some pretty insane markups attached to the car ever since. Thankfully (for those of us looking to buy one), that’s finally changing as C8 Corvette prices are starting to cool off, as YouTuber Fourwheel Trader points out in this interesting video.

As our host points out right off the bat, GM had 40,000 C8 orders prior to the car’s launch but was only able to produce 20,386 cars in 2020 thanks in large part to the pandemic. And while this problem has improved, it isn’t completely solved just yet. “If we start with the supply side, we can see that things are still far from optimal,” our host says. “Chevrolet is dealing with supply problems for transmission parts, which led to a production stop. In case you lost count, this is the fourth shutdown.”

“Now when we look at the demand side, we can see that the C8 remains immensely popular,” he adds. “In March, the C8 was the fastest-selling car for the third consecutive month. On average, it only took 9.4 days to sell a C8 which, in my mind, is unbelievable.” With 11,000 unfulfilled 2021 customer orders that will take two more months to fill, it’s clear that we haven’t reached a tipping point just yet.

That much is reflected in C8 Corvette prices, for the most part. Our host takes a deep dive into the 812 C8s currently for sale and found that 1LTs are listed with an average price of $97,000, while 2LTs are averaging $102,000 and 3LTs are coming in at $108,000. A total of 247 cars are priced over $110,000, which is what a fully-loaded 3LT costs, with a few outliers cresting the $200k mark.

Thus, it’s clear that most are still selling the C8 at a premium, but there is a reason for optimism. Over the last six months, the price curve for all three trim levels is beginning to flatten, while supply has increased substantially. Plus, as our host points out, cars selling at MSRP tend to disappear quickly, which could skew the numbers even further. Yet, while the market hasn’t cooled off substantially, given current trends, it looks like we’ll start to see prices drop in another six months or so.

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