Will Soaring Gas Prices Finally Slow Down C8 Corvette Sales?

While most C8 buyers don’t care about things like gas prices, soaring inflation is evaporating discretionary income.

Unless you’ve been living under a rock, you’re already well aware of the fact that gas prices have exploded in recent months, reaching their highest point in years. It’s a big problem for many folks that aren’t flush with cash or who live paycheck to paycheck, but even people with a bit more money in their budget are feeling the pinch and perhaps driving less than they normally would in an effort to save some cash. Recently, Corvette Forum member C5racecarwondered aloud if soaring gas prices might also impact the C8 Corvette market, or at least prompt prospective buyers to rethink their decision to purchase one, which is certainly an interesting question.

“In Oregon, our gas prices jumped from $3.75 to $4.95 in what seems like overnight,” he said. “I’m six months away from a C8, and it did occur to me maybe I won’t be able to afford to drive this car if gas goes much higher. Maybe I won’t be able to afford to buy this, depending on what happens in the next six months. But the next thought is that maybe some other buyers will not buy due to economic conditions, and I will take delivery before the expected one-year timeline. Anybody else considering not buying due to gas cost, or is this just wishful thinking on my part?”

Many members correctly point out that at least some folks who can afford to buy a new Corvette don’t care about silly things like gas prices, and that may very well be true for the majority of owners. However, it’s fair to say that the increase in the cost of all goods is evaporating the extra money some people have laying around, which could certainly make them question unnecessary purchases.

“OP you are absolutely right on point,” said Maxie2U. “It’s not only gas that will continue to skyrocket – everything we buy is going to get extremely expensive so the totality will impact many buyers. I saw multiple reports from the largest farms in America who are now paying 350% more for fertilizer in just two weeks. They said the cost of fertilizer will cause them to cut back by half the amount of crops they will plant this spring and they predict the average cost of food for a family of four will rise by $1,000 per month. Anyone who thinks inflation will not cripple the economy and car sales have their heads in the ground.”

Of course, these economic changes happen in waves, and eventually, inflation will subside and gas prices will go back to reasonable levels. When that might happen is anyone’s guess, however. Thus, we’re interested to hear how you feel about this topic. Were you considering purchasing a new Corvette but are now rethinking that decision because of rising prices, or do you plan to move forward regardless? Head over here and let us know!

Photos: Chevrolet

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