Nobody is safe in the era of electric vehicles, not even the classic Corvette.
General Motors already made a shift in the 2020 model with a mid-engine car that at first glance, looks similar to a Ferrari. However, it was just announced that GM will produce electric Chevrolet Corvettes as early as next year.
So is this a good move, or a bad one?
Well, that might be a matter of opinion, but let’s take a look at some data.
GM Purchase Intent Mentions are up +16% YoY on a 90-day MA.
That’s fairly reasonable considering first-quarter sales fell about 20% from the year prior.
I was looking around on LikeFolio's dashboard and wanted to drill down into Corvette-specific data and here is what I found.
Consumer Mentions talking about the Corvette brand have decreased by -26% YoY, but have increased by +2% QoQ (90-day MA).
Looking ahead, we'll definitely be keeping an eye on the Corvette brand in the next couple of months to see if there's any traction to follow this announcement.
But one thing is certain; we’re stepping into an era of electric vehicles, and seeing this makes me curious about how the other electric car manufacturers will be affected.