Now that GM's High Performance Vehicle Operations has been dissolved, the fate of cars like the Chevrolet Corvette ZR1 and Cadillac CTS-V look grim. Sure, if things turn around a little these cars could soldier on, but they're easy pickings for accountants looking to shave costs and improve GM's fleet-wide mileage.
With that in mind we decided to see what the current market looks like for the ZR1. When it came out last fall dealers were gouging to the hilt, asking as much as $100,000 over sticker for the low-volume super 'Vette.
And now?
Well, prices are down, but not to sticker. A simple AutoTrader search found one dealer in Los Angeles advertising a loaded red ZR1 with 4 miles on the clock for $135,000 -- or roughly $16,500 over sticker. On Ebay, a Missouri dealer has a loaded ZR1 in black with 8 miles on it at a Buy It Now price of $145,000.
So the ZR1 hasn't bottomed out yet, but a large chunk of its premium has vanished in just four months. Granted, those are four months that have decimated the entire industry, but if you had $100,000 to spend on a Corvette in the first place you're probably not living paycheck to paycheck anyway.
For our money we would buy a CTS-V. They can be found at sticker (whichy is roughly half the price of the Corvette) and they're nearly as fun to drive. Look nice too.
iancar says:
12:40 AM, 02/19/09
Even if the engineering division is dead, the manufacturing of the Vs, SS, and ZR1 can continue years to come. It's their successors that suffer, just like NSX, Type-R, and S2000 of Hondas.
1487 says:
06:07 AM, 02/19/09
exactly. The current product will remain in production for a while. This also means no camaro Z28 but I dont think thats important when the SS already has 422hp.
minibro77 says:
07:55 AM, 02/19/09
I don't know abotu you all but Automotive News reports that GM will be building a new Z28 using the Supercharged V8 from the CTS-V. This would be easy for them to do without a lot of R & D and cost since all of the stuff already exists.
iskch says:
10:02 AM, 02/19/09
The CTS-V is the closes thing to the ZR-1. Is a blast to drive but they are not selling well enough.
hondacura4 says:
10:27 AM, 02/19/09
"exactly. The current product will remain in production for a while. This also means no camaro Z28 but I dont think thats important when the SS already has 422hp."
1487, or anyone else who knows...I always thought the SS was a trim line above the Z28? Am I wrong?
hondacura4 says:
10:32 AM, 02/19/09
Id probably get a CTS-V (or M5) over the ZR1 also as it can be used as a dual purpose vehicle. I can drive it daily and still outrun the guy in the supercharged Mustang Cobra next to me. Great car!
isaacl says:
12:00 PM, 02/19/09
hondaacura...i always thought that too...
the Z28 was midlevel between the base/RS and the SS.
i'm not sure about the 70's, but the 90's were that way for the Camaro line-up.
I dont know where this "hallowed Z28" concept came from when the SS is basically the highest perf. trim in Chevy history.
ronvpr says:
03:56 AM, 02/20/09
I say its still worth it. Ford GT's are still commanding sticker prices for used one's with low miles. Even now that production has ended. You can't touch a Dodge Viper ACR for under sticker. All three of these cars will still look great for years to come, put a smile on your face, and will get heads to turn when you drive them. NSX, S2000 and type R's never will be collectable at any time. And were never commanding anything above sticker when they were new. It's the "uncollectable Asian thing". I have never heard a kid say "Wow, look at that Honda!"
isaacl says:
07:40 AM, 02/20/09
I must disagree RON. I'm 32 and I LOVE catching an NSX on the road. Even if I see a Integra GS-R I take note. I break out in grins to see Supras, RX-7's or any other hi-po Asian car on the road.
You must be hanging out with the wrong crowd. Kids agree with me. As will the collector market in a couple years. Already prices for the previous "4-horsemen" 300ZX/RX-7/Supra/3000GT are slowly creeping up for models in really good condition.
just my opinion brother
estreka says:
01:29 PM, 02/21/09
GM really confused the differences between the Z28 and the SS. The SS was the horsepower car (good for straightlining) whereas the Z28 was supposed to be the agile car. You can equate SS to Honda's Type S marquee and Z28 to Honda's Type R.