Chevrolet Corvette C8…a depreciation nightmare?

If you’re a Corvette C8 owner, or a prospective C8 owner, you might be wondering what the Stingray resale value will be like in a few years. The C8 is arguably the best Corvette — ever. But here’s why I think they could depreciate more than other models.

Selfishly, I want the C8 to depreciate so bad so I can buy one for cheap and turn it into a race car. Sadly, there are many factors saying that I won’t be able to do that for awhile.

The C8 will benefit from the current number of models produced, along with current demand.

In 2020, the C8’s first production model year, Chevrolet produced 20,000 units; whereas the C6 and C7 both had 40,000 units produced in their first years. Covid-19 likely influenced the C8 production being almost half of the previous two generations, but that could play into owners’ favor as supply is low and demand is high. And demand is really freaking HIGH. Everyone wants this thing. Corvette owners and non-corvette owners want it. Chevy’s marketing chief is quoted saying, “Demand is five times greater than dealer allotments for the C8 Stingray.” Plus, the reviews are glowing, and it’s one of the most popular cars on YouTube right now (one of the reasons why I’m diving into more C8 content).

Here’s what will hurt the C8’s value.

Demand is high, and the supply will likely follow. With such high demand, Chevrolet has an opportunity to meet the demand and flood the market. If you look at production numbers for later C6 and C7 years, Chevrolet was able to scale production to around 40,000 units per year to keep up with the demand. And if the C8 production grows to 40,000 units a year for 2021 and beyond, this could be one of the highest produced Corvette generations…ever. Is it a bad thing for enthusiasts? No. Is it a bad thing for resale value? Maybe. And when demand begins to stagnate due to newer trims, the next generation, or competition, you could see resale value drop.