- The Corvette lineup is growing thanks to the addition of the ZR1, but the C8 is already a roaring success.
- Owners are younger and average transaction prices have climbed.
- Chevrolet officials see a distinct place in the lineup for all four Corvette variants.
Chevrolet recently pulled the wraps off the Corvette ZR1 and it pushes boundaries that were once unimaginable. With 1,064 hp (793 kW / 1,079 PS), the latest ‘Vette is more powerful than a Bugatti Veyron and is bound to become an American icon.
However, it’s just one part of the Corvette family, which also includes the Stingray, E-Ray, and Z06. We discussed all four cars at a preview event last month and it’s clear the Corvette lineup is stronger than ever.
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We’re not just talking about performance as the C8 is attracting younger and wealthier consumers. While the Corvette is often dismissed as a sports car for retirees, the average owner age has dropped by seven years and buyers typically earn six figures. The latter helps to explain why the average transaction price for a Corvette is now $101,600.
That number is slightly above Chevrolet’s target and it’s being aided by the $104,900 E-Ray and $110,100 Z06. When the ZR1 arrives, it will undoubtedly push the average transaction price even higher.
While few can afford a six-figure sports car, the Corvette is a huge success as the model is responsible for nearly half of all sales in the luxury sport segment. Furthermore, Corvettes only take 18 days to sell and that demand helps to explain why U.S. sales have been hovering around 35,000 units for the past few years.
As for how the variants fit into the lineup, it’s pretty straightforward. The Stingray serves as the entry point, while the E-Ray is a high-performance daily driver with all-wheel drive. The Z06 is track-focused, while the ZR1 aims to be more livable and the “ultimate expression of Corvette.”