GM wants to appeal the Corvette to a younger audience. To do that, excess weight and cost must be trimmed considerably to meet that standard. Currently, the Corvette prices are way out of their league (drivers who are from 30 to 40 years old). No doubt, this could be a bold move from GM; but then again, to appeal to a younger audience, you need to make some bold moves to back it up.
According to J.D. Power and Associates, the current average age of a Corvette buyer is 54. Oh geeze, I wonder why.
“We have challenges in the States with the Corvette,” Welburn told journalists in an interview at the Geneva Salon. “The average age of the customer is really rising.”
One major problem is not the design of the Corvette but its cost instead, which has an average price tag of around $55,000. I fall into the 30-45 year old category and I hope to purchase a Corvette as my next sports car, but I could only afford sports cars that are around $35,000 – $39,000. So my next step down is the deciding battle for the Ford Mustang, Nissan 370Z or Chevrolet Camaro, which I still haven’t settled yet.
Last year, about 13,934 Corvettes were sold in the U.S., which is down by 48 percent from 2008. This is due to both the economic crisis and the appeal of the Corvette to a narrow range of customers, and that is people in their 50s. If General Motors Co. plays its game right and somehow gets the price tag of the Corvette down to around in the mid $30,000 range, it could pull a lot of Mustang customers to the Corvette side.
Chevrolet is considering a mid engine V6 and reducing the size of the Corvette smaller to accomplish this task. And this is not the first time that the Corvette will have a V6 engine; the first Corvette introduced in June 30, 1953 had a 6-cylinder engine.
An affordable, agile Corvette Stingray design with the size of a Porshe 911 at $37,000? Hmm…sounds very tempting.