Brush up on the law of supply and demand.
The 2020 Chevy Corvette's rough start – a union strike and global pandemic delayed and disrupted production – constrained supply for the sought-after car. While not every 2020 Corvette has found an owner, a quick online search discovered several used low-mile entry- and mid-level C8s listed for around six figures. It's a seller's market for the Corvette, which one owner took advantage of, trading in his sports car for a Mitsubishi Outlander SUV.
Now, don't berate the gentlemen for his decision. Motor1.com reached out to Hurst Autoplex salesperson Kevin Courtney, who completed the transaction. According to Courtney, the customer needed a car for work while knowing that there was a demand for the new Corvette. The decision was one of simple economics, something Courtney says he sees often. The C8 owner made a decision based on supply and demand and he now has a vehicle better suited for his needs.
Gallery: 2020 Chevrolet Corvette Convertible: First Drive Review
Details about the transaction or the Outlander's trim and spec were not disclosed, understandably, though the likelihood of a good deal for the buyer seems high. Back in August, a report noted that the Outlander was one of the slowest-selling vehicles through June 2020. It seems as if Tommy may have maximized his position in this transaction. The base Outlander starts at just under $25,000, well below the $60,000 starting price of the entry-level Corvette, though it's doubtful the traded-in Corvette was a lowly base model.
Used 2020 Corvettes with six-figure price tags seems wild as we're certain there'll be other high-performance Corvette variants on the horizon with six-figure price tags, too. There will also be the 2021 model. However, there's a high demand for the mid-engine Corvette's first year, obviously. The Outlander's slow sales could be attributed to its dated design, though the next-gen Outlander is already in development.