February proved to be yet another difficult month for Corvette sales, and for those dealers that are holding Corvette inventory. We haven’t seen a growth (from the same month last year) in Corvette sales since June of 2007, and even that was by less than 1%. If we compare January’s sales of this year to February’s, there is over an 18% decline. But that’s not the worst of it.
What’s going on?! One can only speculate that the sales declines recently could be attributed to both the current economic climate, and the current general climate (aka the weather) in most places. That still doesn’t account for the over 25% decline in sales compared to February 2007.
Here are the details:
- Corvettes Sold in February 2008: 2,071 (-25.6%)
- Corvettes Sold in February 2007: 2,784
The market cannot continue to handle the production GM is cranking out without some great incentive programs. Sure, the $2,000 and $3,000 Customer Cash incentives are still available on 2007 models as they have been for 2 months now. It doesn’t seem to be making much of a difference. Today they have announced another program which might help the 2007 inventory move out, which we’ll be posting shortly, but will it be enough?
Let’s all hope that March thaws out the snow we have here in Michigan and the seemingly frozen interest Corvette buyers have had recently.
[ GM ]