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Mid Engine Corvette to be introed tomorrow, Predicting it will hurt used Ferrari V8 resales

Discussion in 'American Muscle' started by bitzman, Jul 17, 2019.

  1. NORTY

    NORTY Formula Junior

    Aug 15, 2008
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    As a previous generation 6 owner, I think it's hard to say what the car looks like, based on pictures. I'll need to see the car in person. (Which, I guess I can do tomorrow at Bob Stall Chev.)
    The funny thing, is that enthusiasts, put a value on exclusivity. The Corvette will likely be over-produced, like every generation before this. This will reduce the car's "look at me" factor. They'll be everywhere, soon enough. Since there's so much different then previous corvettes, I just hope GM has done their due diligence with the car.
     
  2. anunakki

    anunakki Five Time F1 World Champ
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    Will it have some effect on used 360 and 430's? Yes. But not enough to be significant. People that want a Ferrari are still going to get the used Ferrari even if performance is less.
     
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  3. bitzman

    bitzman Formula 3

    Feb 15, 2008
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  4. bitzman

    bitzman Formula 3

    Feb 15, 2008
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    I don't think it matters if it doesn't surpass the front engined Corvette's lap time at the Ring by more than 10th of a second. The important thing is that part of the appeal of ME Ferraris, Lambos and McLarens was that they repreented (for Americans) a technology the Corvette couldn't (or wouldn't) aspire to, But now that we've (speaking collectively for all Americans) have done it, it demystifes the foreign achievements. Now it's just a matter of refining the looks, each year making it better. Once the ownership costs start being compared--Ferrari vs. C8 transmission rebuld, for instance, the C8 will have more appeal. Plus making the C8 in RHD will help get it in British and Australian magazines so there will be strong owner groups there too.
     
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  5. skinguy23

    skinguy23 Formula Junior

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  6. intrepidcva11

    intrepidcva11 F1 Rookie

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    I really like this car. I've had nine Ferraris and a Maserati over the past forty years. All comments about the difference in service costs are, of course, correct. But one comment I don't think anyone has made here is this: service access. I live in Saratoga Springs NY. Ferrari New England (Boston-Providence area), Wide World of Cars (Spring Valley NY), Miller Motorcars (Greenwich CT) and Ferrari Quebec (Montreal) are all approx three to three-and-a-half hours drive each way, say seven hours driving, or a very expensive round trip car carrier in addition to the service cost.

    One can service this new Corvette at your local Chevy dealer next door. Very appealing to someone situated like me.
     
  7. jimmyb

    jimmyb Formula Junior

    Dec 26, 2005
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    Does Ferrari care what impact the C8 has on vintage (360) or used (430) sales? I'm guessing NO.
    The person that buys a 360/430 now has always wanted a Ferrari and could NOT afford one until this time. PERIOD. This entire discussion is just silly. The C8 is so far beyond a 360/430 as to not even be discussed.

    I think the C8 will HELP the folks that always dreamed of buying a Ferrari (a used one). Used ME V8 Ferrari prices have been artificially inflated for years, perhaps the C8 brings them back to a normal level?
     
  8. Steinhart

    Steinhart Karting

    May 21, 2019
    179
    yes, this car will definitely help GM, especially for youger buyers that want a high performance sports car

    however I don't think it will take any serious Ferrari buyers away

    two different groups of people: one group focused on price/performance/looks, the other focused on exclusivity/performance/looks

    if you want exclusivity, you have to pay

    and with exclusivity comes value
     
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  9. anunakki

    anunakki Five Time F1 World Champ
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    Im guessing you accidentally quoted me as your post has nothing to do with mine.
     
  10. boxerman

    boxerman F1 World Champ
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    Now that we see this vette. If the build is good, and thats an if at 60k base then it will most certainly affect mid engined paddle ferraris. The 458 will do fine but 360 and 430 are going to suffer. Its not just maintanace costs or performanec differences, its just that the used ferrari has lost a lot of its USP, and then when you throw in the costs it affects people decisons. Not everyones but enough people to move the needle.

    Good for those who wamt a used ferrari for what it is.

    As to whter ferrari cares, Im sure they do. The who ferrari new car sales premium and BS weve seen since 2k is supported by strong residual values on the
    used one. What a used ferrari really worth once you have enough competing products and factor in the miantanance, well just look at used maserati values.
    You can even go back in time to Ghiblis which were below 100k for decades when daytonas were well over 500k. Yes theres a doifference between a ghibli and a daytona, but still.

    However the vette build has to be good, and Im struggling to think of a Gm car with exceptional build, maybe some caddilac and even there...and the vette has to drive great.
     
  11. IPO1

    IPO1 F1 Rookie
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    I think it will CRUSH Pista sales. I'm here to assist those Pista sellers that want out, just PM me and we'll work something out ;)
     
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  12. PerKr

    PerKr Karting

    Oct 10, 2007
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    with that reasoning one would expect the used front-engined Ferraris to have dropped significantly in price over the years. It doesn't seem they have really. And at least here, even the Mondial prices seem to have gone up in the last couple of years. Lifestyle cars simply don't adhere to the same rules as the rest.
     
  13. boxerman

    boxerman F1 World Champ
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    Good point.

    But newer front engined paddle ferraris have not performed, whats the price on 575 f1 and a 599 once with premiums 500k new now there in the low 100's.

    Mondials are stick shift ferrari and in the classic range, they were way too low for too long and they're still less than a new vette, different animals.

    I also agree "Lifestyle cars simply don't adhere to the same rules as the rest" But there is also no doubt that a Me vette and other fast Me cars in general will affect used me ferrari prices. I'm pretty sure more than one person has bought a new Malcrten 570 over a used ferrari and the same is true at lambo. Those two cars have also affected ferraris new car sales potential.

    We also need to add to that the whole ferrari becoming more and more of a bogus brand for stockbroker flippers with lots of negative stigma.
    There are other choices now, both across the new and used spectrum, it has an effect, the only question is how much.

    Heres the good part. If 360 and 430 prices go down low enough. the type of true enthiusiast who previously bought a mondial might be buying a 360, that means these cars might actualy get driven in anger by real enthusiasts. LOl
     
  14. italiafan

    italiafan F1 Veteran

    Jul 19, 2006
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    The C8 is going to hurt other American sports cars, the Germans, the Japanese, and to a lesser degree the English cars...but not the Italian ones...IMO.
     
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  15. anunakki

    anunakki Five Time F1 World Champ
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    Agreed.
     
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  16. TheMayor

    TheMayor Seven Time F1 World Champ
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    Generally yes but I think it can hurt some of the used market. The C7 had no effect on Ferrari sales in the past. I don't see much now except that if you are looking at spending 70 grand on a bucket list toy, you have one more to pick from.

    I think the C8 will create an explosion in aftermarket products like we haven't seen in years. That's a really good thing for enthusiasts and the auto industry in general.

    I'm getting a C8 and keeping the Alfa 4c. It's just so unique and probably the last true sports car we will ever see. Everyone has their own personal idea what they like to drive. The C8 just adds one more to the mix. Nothing wrong with that and a great thing that it came from the USA.
     
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  17. LightGuy

    LightGuy Two Time F1 World Champ
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    Anyone know if one can do multiple deposits at several dealers and pick and choose delivery time /vs color and option allotments ?

    IE large dealers get larger quantities of colors and option packages than a small dealer.

    If the car I want has already been sold and I go back on a wait list for that same color / option package wouldn't it be wise to have several irons in the fire with other dealers ?
     
  18. TheMayor

    TheMayor Seven Time F1 World Champ
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    It's a bit like Ferrari. When you get a slot then you create exactly the car you want. So everything is available.

    The deal is that some dealers are holding back customer orders to get some on their lots and mark them up. Can't say I blame them. Larger dealers who are used to selling out of state have a larger quota than most local dealers -- and more pull with Chevy. So generally speaking they get them faster. The flip side is they also get more customers.

    Generally speaking Chevy gives more quota to those dealers that sell more Vettes. So if you had 5 Chevy dealers in your town, most likely the one with more past Vette sales has more slots available. It may not be the biggest Chevy dealer. IMO you are better off working with one you're comfortable with.

    It would not surprise me though if flippers are doing this exact game of multiple orders just to get one fastest.

    Some dealers will not allow refunds on cancelled sales so you have to get it in writing. Some also sell at MSRP and then tack on all kinds of fees.

    If you want to talk to an out of state dealer PM me.
     
  19. LightGuy

    LightGuy Two Time F1 World Champ
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    Hey Mayor thanks but think I'm covered.

    I'm on the Chevy corporate internet list at one dealer and just got on another "paper" list at another. Both claim , cross their heart and hope to die, no premium over MSRP.
    My local dealer asks $5K over MSRP but "guarantees" a spot. I'd be #8 on their first batch of 16. In my past experience they lie like most people breath; naturally. I'll wait.

    I've been burned being on dealership paper lists before. Like 2 years before the Audi R8 came out and creating the list at one dealer. After they came out they were selling for 10K plus over list : "Just who are you ? There is no list. Pay this or hit the road".

    And that feeding frenzy was nothing compared to the C8.
     
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  20. LightGuy

    LightGuy Two Time F1 World Champ
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    I plan on having a retirement residence in the upper peninsula of Michigan. Nearest Ferrari dealer is in Chicago. 6+ hrs.
    A few Chevy dealers in the UP.

    Living in Dallas the issue never really entered my mind.
    Like healthcare.
     
  21. LightGuy

    LightGuy Two Time F1 World Champ
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    Wow I respect the opinion of both of you.

    I configured "My" C8 previously to seeing your posts and came up with that color.
    Classy and not screaming "Look at me !!"

    I've been told the Z51 package will be about 9K from the rumor mill.
    Originally I wanted a stripped down car.
    9K is like cup holders and badges on a Ferrari.
    Live big. ;)
     
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  22. LightGuy

    LightGuy Two Time F1 World Champ
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    I see your point.
    I have never been a Vette guy either.
    Never owned one.
    But this car IMO changes all the rules.
    The only thing I would wish for is a 9,000 4 valve redline for the ( aftermarket ) scream and ceramic brakes.

    Ceramics are surely coming.
    9k RPM is a dream.
     
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  23. jm2

    jm2 F1 World Champ
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    With the tan interior, very 'upscale'
     
  24. jm2

    jm2 F1 World Champ
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