Report: Camaro Cannibalizing Corvette Sales

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Report: Camaro Cannibalizing Corvette Sales

Over the past year, Chevy has been proud of the success of the new Camaro, with sales exceeding targets. The Camaro sold 61,648 units in 2009, just shy of the Mustang with 66,623, despite the fact that the Camaro wasn’t even on sale for a whole year. But now it appears as though the Camaro’s success has come at the expense of another Chevy, the iconic Corvette. Surprisingly, according to Wards Automotive data, the Camaro is the most cross-shopped vehicle with the Corvette, despite the significant price difference ($18,000) and performance potential.

Last year all sports cars saw a big dip in sales, but the Corvette really got rocked, with units sold down 48.3 percent compared to the year before. It’s not yet clear if this trend will continue as many factors may have contributed to potential Corvette buyers opting for a Camaro instead. The economic downturn is an obvious factor, as is the fact that the Camaro boasts a brand new style and is new on the market, while the current C6 Corvette has been around for over half a decade. Then there’s the obvious fact that a base Corvette and a top-level Camaro SS have roughly the same horsepower.

Supporting the Camaro cannibalization theory, however, is the fact that while sports cars often rely on high-volume V6 sales, up to two-thirds of Camaro buyers opted for the V8. How many of them were really interested in a Corvette we’ll never known.

[Source: Wards Automotive]

  • Rob

    “Last year all sports cars saw a big dip in sales, but the Camaro really got rocked, with units sold down 48.3 percent compared to the year before”

    I think this is supposed to say Corvette sales really got rocked.

  • Colum Wood

    Nice catch. Corrected. Looks like we’re thinking about Camaros instead of Corvettes too.

  • Joe A

    I think there’s always been a heavy cross-shop between the f-bodies (is the 5th gen considered an f-body?) and Corvettes. The two circles are heavily overlapped, despite the price difference. Didn’t the Corvette Museum unofficially adopt the f-body gang after the 4th gen cars were killed in 2002?

  • MIKE

    IT’S NOT A BAD CAR BUT, I DON’T SEE WHERE RESEMBLES THE SS 69 CAMARO BACK IN THE DAY , I HAD ONE NEW OLYMPIC GOLD BLACK RACING STRIPES 350/300HP 4 SPEED.

  • DREW

    The new Camaro is FUGLY.
    It’s exterior is awkward….and the interior is HORRID. Very plasticky and looks as if a 10 year old that plays with Tonka Toys designed it.

  • Greg

    There are lots of reasons I bought a ‘vette over the Camaro, but the main one was PERFORMANCE ~ the Corvette is over 600 lbs tighter and has a much lower CG.

  • Kleve KIrby

    Disapointed the way your treating your loyal customers that bought an SSR. Make parts or sell the rights. The last one built is going on 4 years old and very few body parts are available. Some after market ones but it is a JUNK CAR if you have a bad accident.

    Regards,

    Kleve R. Kirby

  • Todd

    I think the major factor being missed here is that the economy is in the toilet and people who were once able to afford a more expensive vehicle no longer can. I know a LOT of people (Myself included) who’s salaries are lower than they were 10 years ago thanks to supply and demand in the workforce. For people who are tightening the belt more than they used to but are looking to buy a new sports car the Camaro is the sensible alternative.

    Seriously, what does a Z06 cost these days? About 75K? Even the coupes are almost 50K+ once you spec them out. Granted they are BARGAINS when compared to the comparable performers (Porsche, Viper, BMW, etc…) but you can rock a Nicely equipped Camaro 2SS for under 40K and have a really NICE performer while still saving some dough.

    I just think people are thinking more carefully these days about how much money they are spending on things like sports cars and other “non-essential” expenses. Is it really worth the extra $200 or $300 a month to own a fancier car?

    Maybe not so much any more.

  • Jsladky86

    Being a loyal F Car guy my whole driving life, I do like the new camaro. Sure it doesnt make me as happy as a new Trans Am, but hey, I can still dream. :p Good to see sales are up and performance is too! Just hope the new Maro, esp the Zl1 doesnt go the way of the Grand National. *hides from the corvette axe*

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