Chevy C8 Corvette nabs the checkbooks of wealthier buyers, report says

Compared to the C7-generation Corvette, buyers with more cash are interested in the mid-engine sports cars.

The wealthy like their Corvettes, too, apparently.
Andrew Krok/Roadshow

The latest Chevy Corvette, the C8-generation car, is a raging bargain when it comes to the dollars-to-performance ratio. Managing Editor Steven Ewing drove the entry-level 2020 Corvette to confirm this. But, according to a new report, the car is also appealing to those with far more wealth compared to the previous C7-generation Corvette.

GM Authority reported Saturday on remarks Steve Hill, GM's North America Vice President, made during a recent conference call. Hill said the C8 Corvette heads to homes where the median household income is a whopping $76,000 more than those who purchased the last-gen sports car. In other words, mid-engine Corvette buyers have a combined annual income that approaches six figures more than those who bought a C7 Corvette.

Chevy didn't immediately respond to Roadshow's request for comment on the piece of info, but that's a pretty massive wealth shift for the humble Corvette.

The Corvette's shift to a mid-engine layout is arguably a far more exotic move, and one that still upsets some fans to this day. Although Corvette engineers long dreamt of stuffing the engine in the middle of the sports car, we've only ever known the nameplate as a front-engine, rear-wheel drive machine with a raucous personality. It's the underdog meant to take on Europe's finest sports cars.

But, it looks like Chevy got its wish with the more exotic C8 Corvette. After all, the brand doesn't get to choose who buys the car, the car attracts its own customers. It's certainly likely many of the usual buyers opted to put a mid-engine Corvette in their garage, but as the Corvette team writes a brand new chapter for the sports car, it looks like a new set of customers is onboard.

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