With a new Corvette generation on the horizon, it should come as no surprise that C7-generation models are not selling particularly well. According to GM’s sales report, just 800 Corvettes were sold in January this year, which is a new record low month for this generation. While it might seem like a no-brainer that Corvettes don’t sell well in the winter, the Bowling Green plant is still busy pushing them out the door, and dealers are placing orders for them as often as ever. Once they arrive on the lot, however, they just sit.
According to a report by CorvetteBlogger, dealership inventory tracking software indicates that there are more than 9000 brand new Corvettes sitting on dealer lots, which accounts for a 232-day supply of the V8 American sports car.
So why are dealerships continuing to order Corvettes while not moving units? The answer is a ridiculous system of allocations that rewards dealerships that consistently order high numbers of the two-seater. With a new generation on the horizon, a hotly anticipated mid-engine example to boot, dealers want to keep in good standing with Chevrolet so they will be allowed to order a higher number of the next gen model.
By continuing to accept delivery of their allocations, regardless of whether or not they will sell, the dealer won’t see their allocation number drop with the new model. Meanwhile, GM isn’t offering any factory incentives to buyers in order to incentivize a new Corvette purchase, which only serves to exacerbate the issue.
The C7 has been around since 2013, and over 177,000 examples have been sold. The majority of people who wanted a Corvette likely already have one.
Then again, perhaps these dealers are bracing for an oncoming storm when the plant closes for a lengthy retooling for the new model. We’ll probably make it to summer without a new Corvette, and these dealers with inventory will be seen as prescient. Who knows?
For now, if you want a new ‘Vette, you’re probably in a good position to wheel and deal.