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News: Corvette generates 1.6m-euro sales

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Corvette generates 1.6m-euro sales

Autor: Bogdan Alecu | Data: 29 Feb 2008
Ziarul Financiar

Corvette, the sports brand of General Motors US concern, will generate sales of almost 20 units this year, with the top version to account for a quarter of them.

"We estimate around 17-20 Corvette units will be delivered this year, of which six will represent the top Z06 version," Radu Duncea, Regional Business Development Manager for Cadillac, Corvette, Hummer, General Motors' premium brands, told ZIARUL FINANCIAR.

According to the company's officials, two orders for Corvette are going to be filled at present. The price of a Corvette in the basic trim stands at 65,290 euros VAT not included, with manual transmission, and at 68,890 euros in the case of a model with automatic transmission.

The Z06 model costs 88,150 euros, and comes equipped with a 7.0 litre engine developing 512 horsepower, which allows it to speed up from 0 to 100 km/h in 3.9 seconds, that is as fast as a Porsche 911 Turbo, which is over 30,000 euros more expensive, though.

According to some ZF estimates, the value of Corvette cars sold on the domestic market revolves around 1.6 million euros.

At present, Corvette is sold domestically through Radacini Motors, which is also an Opel and Chevrolet dealer.

The first showroom destined to Corvette brand will be finalised in the second half of this year and will be located in the northern area of the Romanian capital city.

General Motors sales for Opel and Chevrolet brands in Romania in January advanced by 41.8 percent compared with the similar month of last year, reaching 1,820 units. Of the 1,820 cars General Motors sold domestically in the first month of this year, 1,259 were Opel branded and the rest of 561 units were Chevrolet ones. Thus, Opel sales surged by 57.7 percent compared with the first month of last year, while Chevrolet sales registered a 15.6 percent increase.

Saab, General Motors' premium brand that competes with brands such as BMW or Lexus, in January registered sales of 15 units, almost 37 percent higher compared with the corresponding period of last year, with the sales representing the medium-class 9-3 model only.
 
At an exchange rate of $1.51719 per EURO that makes the:

Base car $99,057.31
Z06 $133,740.30

And that does not inclued a VAT (Value Added Tax?)


Sound about right?


MCMLVII
 
I guess we can have the 2009 Cruisefest in Bucharest.
 
At an exchange rate of $1.51719 per EURO that makes the:

Base car $99,057.31
Z06 $133,740.30

And that does not inclued a VAT (Value Added Tax?)


Sound about right?


MCMLVII

Yep. You did the math right.

I'm not questioning the math, but it seems counter-intuitive to me. Right now, the Euro is at an all time high against the Dollar. I would have thought that meant the Euro has more purchasing power for American products.

-Patrick
 
You are right. It would seem to me that a European could, if the governments involved would permit it, come to the US and buy the car here using the exchange rate in his favor, thus getting the car for about 2/3 the price being charged in Europe in Euros. Shipping would be a few K. But there is probably a hitch somewhere. Tariff? There may very well be some regulations or whatever in place that keep them from doing this. Might even be corporation agreements against it. Anybody know exactly how this works?
 

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