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]