The pony car sales war has been closely watched this year and July appears to be more of the same for the all-new Chevrolet Camaro. In July, Camaro sales were off just over 26-percent year over year. The drop continues a trend for the new Camaro, which is shedding marketshare to the Ford Mustang.
Mustang actually saw a sales increase in July by nearly 13-percent, while the car is still seeing a sales decline of 5.5-percent for the year. Collectively the pony car market appears to be shrinking in the industry as a whole.
The news-worthy element of July is that it marks the first month in which Chevrolet actually responded to the sixth-generation Camaro’s sales decline. At the start of the month Chevy added zero-percent financing to the Camaro for the first time since the car launched. While it appears it helped sales out a bit since GM sold 551 more Camaros in July than in June, the Mustang appears to have been largely untouched by GM’s incentives. Ford sold 211 fewer Mustangs in July versus June. It is worth noting there was some parity between the incentives as Ford also had zero-percent financing on the hood of the Mustang.
The lackluster Camaro sales are somewhat ironic given the car has received almost universal praise from the media. There’s significant debate surrounding why the car isn’t selling better, but the general consensus appears to be the higher price tag.
If price really is one of the core problems, Chevy doesn’t appear too serious about fixing it for 2017 either. The 2017 Camaro has an even higher starting price at $27,300 while the 2016 model starts at $26,695.
Perhaps more incentives will do the trick?
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