In response to disappointing sales of the new-for-2016 Chevrolet Camaro, General Motors revealed last week that it will cut prices of the 2017 model.
Although there are plenty of 2017 Camaros already available — all of which will benefit from the newly lowered price — the issue facing GM’s U.S. dealers now pertains to the number of 2016 Camaros on dealer lots. Of the roughly 27,000 Chevrolet Camaros in stock at dealers across America, according to Cars.com, 40 percent are MY2016s, the appeal for which decreases rapidly as more MY2017s become available.
This ballooning Camaro inventory, a 139-day supply heading into September 2016, was caused by a sharp decrease in Camaro demand with the launch of the all-new sixth-generation model, a subject we’ve explored frequently in the past. Through the first eight months of 2016, U.S. sales of the Chevrolet Camaro are down 15 percent.
But sales of the Camaro’s chief rival, the wildly more popular Ford Mustang, are falling, as well. Dodge Challenger sales are sliding, too. (Read More…)