Those in the market for a new Chevrolet Corvette should move quickly as prices on the iconic sports car are expected to increase next year. Though sports car sales are generally down, Chevrolet apparently believes the new 2019 Corvette will be worth the additional expense.
Among the Corvette models expected to get a price bump in 2019 are the Corvette Stingray and the Corvette Convertible, which will increase $405 and $905 respectively. Other models will have substantially higher price hikes, such as the ZR1, which will increase by $2,000. Reports also show that the eight-speed automatic models will increase by $1,995. Automatic models account for 80 percent of Corvettes sold.
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Corvette sales have been slowly declining since 2014. Last year, the company sold only 25,000 units with an additional 15,000 models sold by the end of September. GM Authority reports that sales were down 27 percent in Q2.
Corvettes currently on dealer lots won’t be affected by the price increases, but new deliveries will, according to Jalopnik.
The Chevrolet Corvette, known also as the Vette or Chevy Corvette, is a front engine, rear drive, two-door, two-passenger sports car produced by Chevrolet. It is primarily known for its performance and distinctive plastic — either fiberglass or composite — bodywork.
The Corvette, known as America's Sports Car, first hit the market in 1953. The first model was a convertible that debuted at the GM Motorama as a concept car. In 1963, a second generation of coupe and convertible models were introduced. The cars were originally produced in Flint, Michigan and St. Louis, Missouri. Since 1981, the Corvette has been manufactured in Bowling Green, Kentucky.
According to Automotive News, the Corvette is "the most successful concept car in history and the most popular sports car in history.” The Corvette has won numerous awards. It has been listed by Edmunds.com as one of the "100 Best Cars Of All Time" list, while the 1963 Corvette Stingray is considered the 16th best car ever produced worldwide. According to Specialty Equipment Market Association and Experian Automotive, there are approximately 750,000 Corvettes of all model years registered in the US with the highest density found in Michigan.