Why will the new Corvette change the exotic car market?
So, the new eighth generation Corvette was released a few weeks ago and then recently the first set of reviews came out. As we get in the first quarter of 2020 more press cars will be available to all the journalists waiting to get their hands on American Mid Engine sports car.
As most predict this car has everyone on their toes for several reasons. It’s current competitor making return, the 90s icon Toyota Supra Mark V which is priced very close to the C8 could see relatively less sales due to its presence. Toyota Supra being a return of nostalgia was expected to make a big impact and hence we even saw crazy dealer markups but if factory performance is concerned Corvette is way better. Although I do like to point out that even Mark IV Supra was not something that gave it the legend status it has now, that was a by product of the aftermarket modifications capabilities on the engine to be specific. In the press release Toyota pointed out the same for Mark V but it kind of seemed lazy to not build the best car even though the potential exist but leave it to the buyer.
There’s other reasons to Mark V Supra being a hit or a miss but let’s focus on Corvette for now. The mid engine platform is something completely new for GM and the first few reviews make it seem like they’ve done a good job with it. With rumors of a newer engine with competitive sound (looking at you Ferrari and McLaren) and more power I cannot imagine the Corvette is set to be a successful move for GM.
This impacts the current mid-engine sports car market too, as there aren’t many naturally aspirated ones are out there it alone makes Corvette 8th gen very special car. With the $60,000 price starting price and just the base 6.2l LT motor boasting 2.9 sec 0-60 mps (priced around $80k) there’s no doubt it will be a hot seller.
On top of that, the dyno numbers were revealed recently by motor-trend and it made an impressive 558 hp and 515 lb-ft of torque at the wheels, so that 2.9 secs 0-60mph can be less or the same I would take that with a grain of salt.
Recent reveal of C8.R which apparently has a 5.5l flat plane crank (high and quick revving) v8 engine which is potentially coming to Z06 and high performance model, the Corvette mid-engine platform has a lot to offer over the coming year. That’ll definitely put it right in the exotic car market where Ferrari’s and McLaren’s have their beautiful sound going well for them. A customer who is loyal to the brand and appreciate the refinement European exotics might still have something to offer but for an enthusiast who can accept a trade off (as the Z06 model is not released or announced yet and can be really good and equally refined), will now have an American option in the mix as well to choose from.