Uh Oh... C8s Are Depreciating Quicker than C7s

[TXSTYLE]

This is actually surprising to me considering lots of factors:
Mid-Engine Platform the initial scarcity
Overall, it's simply a better vehicle from the ground up

Thoughts?

https://www.hagerty.com/media/market...ster-than-c7s/

They’re both America’s sports car. They both have the same name. They’ve both had white New Balances stomp on their pedals and jean shorts pressed into their seats. Yet the seventh (C7, 2014-19) and eighth (C8, 2020-present) generations of the Chevrolet Corvette are rather different automobiles. It’s not just that the C8 is the first ‘Vette with a mid-engine layout and automatic-only transmission, either. Their prices are doing different things, too. C8s are pricier at the moment, which makes perfect sense because they’re newer, faster, and more advanced. The gap between them, however, is shrinking.
GM started production of the C8 Corvette in February 2020. Then, over the coming months, everyone shopping for a new vehicle, be it a pickup truck or a weekend toy, became very familiar with terms like “supply chain issues,” “production delays,” and “dealer markups.” Deliveries for highly anticipated new models like the C8 Corvette or Ford Bronco were slow and production challenges choked supply in the face of serious demand. Dealers asked well over MSRP, while some buyers who got an early slot successfully flipped their still-new C8s at auction. Meanwhile, C7s settled into their status as yesterday’s Corvette, but their sale prices defied the laws of depreciation and trended upward. In the early 2020s essentially all enthusiast cars—even used ones—got more expensive.

More recently, though, there has been a shift for both cars. Supply for the mass-produced base C8 has caught up. New C8s are slower to sell, and the model has been out for long enough that there are C8s at used dealers as well. The initial buzz of the car has worn off, too, and while the C8 Stingray was initially the only model available in 2020, now there are the newer and more exciting Z06, E-Ray, and upcoming ZR1, further taking some of the heat off the base car. Prices have ticked down accordingly. No more pandemic markups.
As for the C7, it’s still a used older generation Corvette, just like it was in 2020. Its supply is going down as attrition takes cars off the road. It’s still quicker than many newer and more expensive performance cars. It’s also the last Corvette with the traditional front-engine layout and silhouette, and the last available with a manual. And when a car is the “last of” something, it tends to have staying power in the collector market.

Pandemic-era craziness settled down for C7s and they have depreciated, too, but all of the above suggests that they don’t have as far to fall as the still-new C8. And while they’re a bit apples and oranges, if anyone is cross-shopping C7 vs. C8, the front-engine car looks like the better buy at the moment.

[dgoldenz]

Where's the guy who told us all that Z06's are sold out for 5 years and they'd never sell for under MSRP? lol

[Joebie]

-I've heard they have transmission problems
-Theyre probably harder to work on
-Theyre not that classic Vette look
-The base models look bad in my opinion. Looks like you couldnt afford a real supercar so you got the wish.com version instead. Theres something awkward about that rear fender area plus the wheel offset looks like they took a wheel from a Cruze and slapped it on the vette. Super tucked and very lackluster.
-no 6MT or 7MT option

Idk, im not a vette guy so i dont even know how much of what i said is true. But I view the C7 as more desirable than a C8.

[pikkagtr]

When your mom buys you C7 from Alibaba you end up with the C8

[tdott]

They made a ton of them, not surprised, they had a good run...

[Schn3ll]

It’s a fine car, but they are everywhere. Supply and demand. Chevy could learn a little from Porsche.

What won’t improve this is the off-shoot corvette brand that’s going to start making SUV’s soon…

[c1pher]

The C7 is a nice size, hp to weight ratio and still relatively modern. The C8 is a lot bigger and looks slightly awkward IMO unless you get the Z06 body. I also feel the fit and finish on the C7 is better than the C8.

[Donatello.]

All the people that told me the market would never go down...LOL

It will keep correcting. Cars and other markets. We are not close to the bottom yet

[BlkGS]

The C8 sucks is why. It was a total flop, once it wasn't the new hot shit, people realized it was a garbage car. The dual clutch trans is German levels of unreliable (not fair, it's reliable that it will break and need replaced). The storage sucks, the looks are awkward, it's no longer a domestic muscle car, now it's a Wish.com Lamborghini.

The C7 and C6, especially with .manuals, probably won't go down in price going forward from anything but adding miles and worsening condition.

[x622]

Originally Posted by BlkGS

The C8 sucks is why. It was a total flop, once it wasn't the new hot shit, people realized it was a garbage car. The dual clutch trans is German levels of unreliable (not fair, it's reliable that it will break and need replaced). The storage sucks, the looks are awkward, it's no longer a domestic muscle car, now it's a Wish.com Lamborghini.

The C7 and C6, especially with .manuals, probably won't go down in price going forward from anything but adding miles and worsening condition.

C6 ZR1's are looking mighty collectable right now.

[RM7]

Stingray C8s are going to depreciate, no question, and special model C7s like GS, Z06, will retain value. I doubt they will be anywhere near C8 Z06, ZR1, etc. C8 has amazing performance in Z51 package and up, haters are just jealous or ****hurt the cars are beating them.

[BlkGS]

Originally Posted by RM7

Stingray C8s are going to depreciate, no question, and special model C7s like GS, Z06, will retain value. I doubt they will be anywhere near C8 Z06, ZR1, etc. C8 has amazing performance in Z51 package and up, haters are just jealous or ****hurt the cars are beating them.

Nobody is doubting the performance of the C8. But there's more to a car than just bragging rights. The C8 is a snooze fest to drive. Way too digital, the dual clutch only is a crime, and the whole thinkg is just ugly.

The C8 is the worst generation of C8 for drivers that want enjoyment, not just bragging on the internet. And the worst for reliability. It is however the best for people who like understeer.

[Mavus]

The rear end design is like toys r us kid car and I can’t stand that wall in the cabin really horrid layout. would take c7 z06 I think

looks like Walmart Ferrari

[c1pher]

Originally Posted by Mavus

The rear end design is like toys r us kid car and I can’t stand that wall in the cabin really horrid layout. would take c7 z06 I think

looks like Walmart Ferrari

They “had” to have that extra room for gold clubs. I wish the trunk was not there and it would make the car a bit more proportionate. There’s a frunk and you can put some luggage in there. I think they wanted to compete with the 718 on front and rear luggage space too.

[MisanoblueZ4]

Wow the C8 haters have come in hot! lol

While upon debut it seemed incredible, they are filling up cars and coffee meets and after seeing them so routinely everywhere it’s no longer a car that draws my eye. Complicated car to work on, bad interior design with the Great Wall of Buttons. It is aging rapidly unfortunately. Tremendous performance though.

[Alfisti]

I've said since day one, the car simply does not look right. I was at a large car show today with many C7 and C8 near each other and the C8 is just not right, the rear simply looks ill fitting to the rest of the car.

[Tejas1836]

https://www.thedrive.com/news/fun-fa...chevy-corvette

[wtwo3]

It looks like a Ferrari with down syndrome.

[XutvJet]

I'll take a 2000-2022 C5 Z6 with some mild suspension work, a cam/intake manifold/heads, a proper aftermarket steering wheel and seats over any C6-C8.

The C8 looks like two completely different cars, front end and rear end. It needs less angle, way less rear heft, and a bit more organic styling. And dear God, enough with all the gawdy, tacked on aero crap. Chevy ain't alone in this silliness either. So stupid for cars that don't routinely see 120mph+.

[BlkGS]

Originally Posted by XutvJet

I'll take a 2000-2022 C5 Z6 with some mild suspension work, a cam/intake manifold/heads, a proper aftermarket steering wheel and seats over any C6-C8.

The C8 looks like two completely different cars, front end and rear end. It needs less angle, way less rear heft, and a bit more organic styling. And dear God, enough with all the gawdy, tacked on aero crap. Chevy ain't alone in this silliness either. So stupid for cars that don't routinely see 120mph+.

Fun fact, there's effectively no reason to buy a C5Z if you're going to do a H/C/I build..the LS6 is basically a mild heads and cam LS1, and you can save yourself a lot of money by buying an FRC that looks the same as a C5Z, and add the brake ducts.

I have a love/hate relationship with the C5Z. It always gives me a nostalgic feeling for the time when it came out and was a legit badass. But they're also so overpriced, and just a much worse car than the C6 is every way. An early C6 Z51 only has a disadvantage in tires and a slight weight disadvantage vs the C5Z, and the C6 is dramatically improved. But something about a red C5Z man, just brings me back.

[David70]

C8s are pricier at the moment, which makes perfect sense because they’re newer, faster, and more advanced. The gap between them, however, is shrinking.

So a used C8 is more expensive than a C7 but depreciating faster. I think you would find this is true of almost every somewhat collectible car out there, first couple of years is still the highest depreciation, it levels off and then long term we see which one has more value.

Not seeing anything surprising here.

[BlkGS]

To be fair, every car starts off depreciating faster, then slows. Most cars lose 20-25% the day you drive it off the lot. Porsche GT 911s being the notable exception that seem to just go up in value.