Let’s pause on the Tesla Cybertruck for a moment. Whether you love it or hate it, there are certainly a lot of opinions floating around right now surrounding the Mustang Mach-E, the *other* hot topic of the week. The electric crossover comes as an extension of the Mustang “brand”, a nameplate that has represented a two-door sports coupe since its inception in 1964. The new model has come with cries of heresy and disappointment surrounding what some believe to be the bastardization of one of America’s most beloved automotive icons. While there are a number of agreeable marketing and financial reasons why Ford chose the Mustang name in this scenario, one market analyst believes the pony car isn’t the only American sports car that should have an SUV variant. Instead, he believes it’s time for a Corvette brand, spurred by an electric Corvette SUV.
That analyst is the rather sharp Adam Jonas of Morgan Stanley, and before you send him a message asking for an explanation of his hatred for all things good, let us explain. In a note to his clients, Jonas stated that he believes that it is time for General Motors to expand the Corvette nameplate into its own sub-brand, much like Ford is doing with the Mustang. Jonas believes that an electric Corvette SUV like the Mach-E, could allow the Corvette brand to sell as many as 80,000 vehicles annually by the mid-2020s, with the potential to sell beyond 100,000 units per year before 2030.
Considering the fact that we know Chevrolet sold 14,497 Corvettes this year through September, these figure would mark a huge increase in sales. These increased units moved would help the newly minted Corvette brand reach a value of $7 to $12 billion, according to the Morgan Stanley analyst. That is certainly not a number to ignore, and potentially reason enough for such a move by GM.
We know that the idea of an electric Corvette SUV is a lot to take in, especially for those who are still upset about the C8 Corvettes dramatic departure from Corvettes of yore.
That being said, the revenue generated from a Corvette SUV cash cow would likely enable a greater push into the the performance market. Porsche has laid the blueprints for this. But will Chevrolet dealers ever let go of the Corvette? That could be a $12 billion war all its own.