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GM showcases the super `Vette at a 6-figure price
By Shawn Langlois, MarketWatch
Last update: 4:01 p.m. EST Jan. 13, 2008
DETROIT (MarketWatch) - The Corvette has historically treated its fans to more bang for their buck than most of its glitzier, higher-priced sports-car competitors.
But now that the newest version carries a price tag in the six-figure range, is the Corvette brand really prepared to do battle in the super-car arena?
General Motors Corp. believes it can. The automaker, before launching into its decidedly green approach to the North American International Auto Show, took the wraps off its redesigned muscle car at its star-studded GM Style event on Saturday night in Detroit.
And, no doubt, the specs are all there.
In the ballpark of 620 horsepower. From zero to 60 in well under 4 seconds. Top speeds in excess of 200 miles per hour. These are the kinds of gaudy numbers typically reserved for the Italian and German sports cars of the world. And matched up against the storied European competition, the new Corvette is still relatively affordable.
But those shopping in the rarified air of $100,000-plus are looking for more than the best bargain. That's where the fastest, most expensive Corvette to date, despite its overwhelmingly positive early reception, could run into some speed bumps.
"A Corvette in any version is still a Corvette and really very similar to the coupe the guy down the street owns," said Mark McCready, analyst at CarsDirect.com. "There will be those that appreciate it and will pay for it, but the 'look at me' crowd will spend their money elsewhere."
Elsewhere includes such luxury staples as Porsche, Lamborghini and Bentley, not an easy crop to compete against from a prestige standpoint. Then again, many of these vehicles cost two to three times as much as the Corvette will when it comes to market later this year.
Then there are those who question whether bringing a car to market that focuses on power rather than fuel efficiency when U.S. gasoline prices are approaching $4 a gallon is the right move. In fact, GM is working hard to position Chevy as its green brand as the federal government forces automakers to boost their fuel economy.
Joe Wiesenfelder, senior editor at Cars.com, said that while he believes the Corvette could be a tough sell in the long run, especially with the Nissan GT-R and its competitive specs hitting lots this year at about $80,000, showing more muscle is worth the risk.
Even with the green theme of the show.
"I don't think the `Vette is a sore thumb [at this year's show], but there's no doubt journalists looking for something to talk about will cite the disparity," he said. "Corvettes are plenty efficient, and even if this one isn't -- don't know yet-- it's limited production."
GM will probably make only about 2,000 of these cars a year to maintain its exclusive appeal. Chevy sells other versions of the Corvette starting under $50,000.
Shawn Langlois is a reporter for MarketWatch, and the editor of its community message boards.
By Shawn Langlois, MarketWatch
Last update: 4:01 p.m. EST Jan. 13, 2008
DETROIT (MarketWatch) - The Corvette has historically treated its fans to more bang for their buck than most of its glitzier, higher-priced sports-car competitors.
But now that the newest version carries a price tag in the six-figure range, is the Corvette brand really prepared to do battle in the super-car arena?
General Motors Corp. believes it can. The automaker, before launching into its decidedly green approach to the North American International Auto Show, took the wraps off its redesigned muscle car at its star-studded GM Style event on Saturday night in Detroit.
And, no doubt, the specs are all there.
In the ballpark of 620 horsepower. From zero to 60 in well under 4 seconds. Top speeds in excess of 200 miles per hour. These are the kinds of gaudy numbers typically reserved for the Italian and German sports cars of the world. And matched up against the storied European competition, the new Corvette is still relatively affordable.
But those shopping in the rarified air of $100,000-plus are looking for more than the best bargain. That's where the fastest, most expensive Corvette to date, despite its overwhelmingly positive early reception, could run into some speed bumps.
"A Corvette in any version is still a Corvette and really very similar to the coupe the guy down the street owns," said Mark McCready, analyst at CarsDirect.com. "There will be those that appreciate it and will pay for it, but the 'look at me' crowd will spend their money elsewhere."
Elsewhere includes such luxury staples as Porsche, Lamborghini and Bentley, not an easy crop to compete against from a prestige standpoint. Then again, many of these vehicles cost two to three times as much as the Corvette will when it comes to market later this year.
Then there are those who question whether bringing a car to market that focuses on power rather than fuel efficiency when U.S. gasoline prices are approaching $4 a gallon is the right move. In fact, GM is working hard to position Chevy as its green brand as the federal government forces automakers to boost their fuel economy.
Joe Wiesenfelder, senior editor at Cars.com, said that while he believes the Corvette could be a tough sell in the long run, especially with the Nissan GT-R and its competitive specs hitting lots this year at about $80,000, showing more muscle is worth the risk.
Even with the green theme of the show.
"I don't think the `Vette is a sore thumb [at this year's show], but there's no doubt journalists looking for something to talk about will cite the disparity," he said. "Corvettes are plenty efficient, and even if this one isn't -- don't know yet-- it's limited production."
GM will probably make only about 2,000 of these cars a year to maintain its exclusive appeal. Chevy sells other versions of the Corvette starting under $50,000.
Shawn Langlois is a reporter for MarketWatch, and the editor of its community message boards.
