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The Evolution of Chevrolet’s Corvette Sports Car in the US from the Economic and Financial Strategy Perspective
- 1 School of liberal arts and sciences, The university of Connecticut, Storrs, Connecticut, 06279
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Abstract
Under the trend of economic development, market competition is becoming fiercer than before. All walks of life are focused on introducing new technologies to increase the competitiveness of their own brands. Currently, the revolution of technology in the automotive industry is faster and more innovative. More and more auto parts have been replaced, and more advanced model designs have been constantly updated. Brands occupy market share by increasing the technological level of their products and setting more strategic pricing. Moreover, due to the impact of Covid-19, the price of chips required for automobile production has also enhanced significantly, and the purchase price of related products has also increased by different ranges. Affected by Covid-19, the primary target for brands in the automobile field is to maintain and attract customers. This paper mainly studies the price changes and market strategies of Chevrolet's Corvette during the epidemic, by consulting relevant literature and news. This paper finds that even in the context of the impact of the epidemic and the shortage of chips, the Corvette C8 has successfully ensured its market share, and the reasonable pricing adjustment based on market fluctuations makes it a leader.
Keywords
Chevrolet, Corvette, Cost-effective, COVID-19
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Cite this article
Jiang,S. (2023). The Evolution of Chevrolet’s Corvette Sports Car in the US from the Economic and Financial Strategy Perspective. Advances in Economics, Management and Political Sciences,5,205-209.
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Volume title: Proceedings of the 2022 International Conference on Financial Technology and Business Analysis (ICFTBA 2022), Part 1
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