Good evening everyone! This week we’re diving into the C8 Corvette, a car I personally own and love. It came out of the market hot with prices that were way over markup and has now settled down nicely.

Price Range The average weekly prices range from a high of $102,690 (Week of 04/24/23) to a low of $76,623 (Week of 04/29/24). This shows a significant price movement over the period.

Overall Trend There's a clear downward trend in prices over the entire period. The C8 started with prices around $100,000 and ended in the mid-$70,000s, representing a substantial depreciation.

Phases of Depreciation a. Initial Stability (Feb-Jul 2023): Prices fluctuated mostly between $95,000-$102,000. b. Rapid Decline (Aug-Dec 2023): A sharp drop from the low $90,000s to the low $80,000s. c. Stabilization (Jan-Aug 2024): Prices mostly hovering in the high $70,000s with less volatility.

Steepest Decline The most dramatic price drops occurred between August and December 2023, possibly indicating a market correction or increased supply.

Price Stability After January 2024, prices show more stability, suggesting the market may have found a new equilibrium.

Seasonal Patterns

• Spring peaks: There are slight price increases in April-May of both 2023 and 2024.

• Winter lows: Prices tend to be lower in the winter months, particularly noticeable in late 2023.

Total Depreciation From the highest point to the lowest, the price dropped by about 25.4%, which is significant for a relatively new model.

Recent Trend In the last few months (May-August 2024), prices seem to have stabilized around $77,000-$80,000.

Market Positioning The data suggests that the C8 Corvette entered the market at a premium but quickly adjusted to a lower price point, possibly due to increased production and supply meeting initial demand.

Potential Factors Affecting Price

• Increased production and availability of the C8 model

• Introduction of new trim levels or special editions

• Changes in the sports car market or general economic conditions

• Potential announcement or anticipation of the next Corvette model

Depreciation Rate The C8 shows a higher depreciation rate compared to many sports cars, especially in its first year on the market. This could be due to its relatively high production numbers compared to more exclusive sports cars.

Investment Perspective The rapid initial depreciation suggests that early adopters who paid premium prices may have experienced significant value loss. However, the stabilization in later months might indicate a better entry point for buyers.

Price Clustering In the latter half of the data, there's a noticeable clustering of prices around the $78,000-$80,000 range, possibly indicating a market consensus on value.

Supply and Demand Dynamics The initial high prices followed by a sharp decline could indicate that supply initially lagged behind demand, but then caught up and possibly exceeded it.

Future Outlook The stabilization of prices in recent months suggests that the market for C8 Corvettes may have found its equilibrium. However, future price movements could be influenced by factors like the introduction of new Corvette variants or changes in the broader sports car market.

In conclusion, the Corvette C8 demonstrates a pattern of rapid initial depreciation followed by price stabilization. This pricing behavior is typical for a high-production sports car that entered the market with significant hype and demand. For potential buyers, the current stabilized prices may represent a more attractive entry point compared to the initial inflated values. However, the data also suggests that the C8 may continue to depreciate, albeit at a slower rate, in the near future.

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