Corvette Sales Dominate Market During Q1 2021
The healthy double-digit jump in Chevy Corvette sales in the U.S. during Q1 2021 enabled the perennial sports car to remain the best-selling model in its class. In fact, the Corvette outsold all other rivals combined, including the Porsche 911, Porsche 718, Mercedes-AMG GT, Mercedes-Benz SL, Mercedes-Benz SLC, Audi R8 (see running Audi R8 sales), Nissan GT-R, Ford GT (see running Ford GT sales), Acura NSX and BMW i8.
The performance represents an improvement over the similarly-impressive figures in Q3 2020 as well as Q4 2020. During both quarters, the Corvette accounted for over 50 percent segment share. However, as we typically note, most contenders in this segment cost significantly more than the Corvette and naturally see lower sales volumes as a result.
Corvette managed to grow its segment share to 51 percent from 43 percent a year ago. The second-place Porsche 911 - the most cross-shopped rival with the C8 - accounted for roughly a third as many sales with 22 percent segment share, down from 29 percent in the year-ago quarter. The Porsche 718 line, comprised of the 718 Cayman and 718 Boxster, followed in third place with a 12 percent segment share, up from 4 percent a year ago. The Porsches were followed by a trio of Mercedes models with 9, 2, and 2 percent share each. All other models, including the Audi R8, Nissan GT-R, Ford GT, Acura NSX, and BMW i8, each saw a segment share of 1 percent or less.
So, let's just get the budget part out of the way and call it by name: you need exactly $198,800 to get this on the driveway. Surely, for anyone who thinks of a savvy investment or is madly in love with the Corvette, it won't sound like much.
After all, we're dealing here with one of the greatest sports cars born in America, equipped from the factory with an all-new 376 ci (6.2-liter) LT5 pushrod V8 engine that also packs an Eaton supercharger to develop 755 horsepower. Granted, the stealthy color hides much of the extensive use of carbon fiber, but one can't have it all, right?
Still, this ZR1 does come close as it's also equipped with the Tremec seven-speed manual or the ZTK aero performance package, enabling the Corvette to come up with 950 lbs (430.9 kg) of downforce at a slightly lower top speed than stock. But you do get 60% more downforce than a Z06 with the Z07 package, so it's better for corner carving.
The premium sports car segment expanded an average of nearly 44 percent to 12,876 units in Q1 2021, meaning that Corvette sales outpaced the segment roughly two-fold.
The substantial growth in Chevy Corvette sales during the first quarter of 2021 continues to be welcome news, since the last-generation model - the Corvette C7 - has been out of production since November 2019, while the launch of the new-generation 2020 Corvette C8 got off to quite a rocky start.
Source: Alex Luft - GM Authority
Posted 4/16/21