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GM / Factory News

Next-Generation C7 Corvette on Hold – Indefinitely

by Keith Cornett on October 18, 2008

C7 Corvette Rendering

It was just two weeks ago that Motor Trend reported the next generation Corvette would be pushed back to 2014. With turbulent economic crises threatening the very existence of the Big 3 automakers, word comes from AutoWeek that GM has put plans for the C7 Corvette on indefinite hold with no official word or set timetable.

Luckily, none of the sources are suggesting that the Corvette will go away. Corvette Vehicle-Line Executive Tom Wallace told AutoWeek “No one is saying we’re not doing Corvettes. We’re still bullish on Corvettes.” When asked directly if there was any chance the Corvette would die, Wallace stated emphatically “No way.”

Talk is now about the how the C6 Corvette’s run can be extended. One version of the story is that the C6 could be upgraded significantly in 2012 as a ’13 model. Wallace says we’ll see changes sooner than that. “There are changes, some neat stuff, coming for 2010 that I can’t talk about yet.”

Read the entire article at AutoWeek.


Sources:
AutoWeek

Related:
C7 Corvette Rumors: No Mid-Engine and C7 Pushed Back to 2014

 

September 2008 Corvette Sales

by Keith Cornett on October 2, 2008

Corvette sales continued to be pretty decent through September, no doubt bouyed by the Employee Discount Program on remaining 2008 Corvettes that ran through the end of the month. Last month, 2,318 Corvettes were delivered but sales were down 18.3% over September 2007. W continue to have some major concerns with the impact the credit crunch may have in the coming months.

Within the last month, GM began making moves to ease the impact of the current economic slowdown in regards to Corvette Sales. The first will be a cut in production later this month by closing the Bowling Green Assembly Plant for a week as well as the slowing production line – two moves that should ease dealer inventories. GM also announced a $1520 price increase across the board, while not in itself a significate price hike, it is a move that will help offset some of the cuts that GM has been making to ensure profibility.

2008 Corvette Delivery Statistics
Month Calendar Year-to-Date
Month 2008 2007 % Change Months 2008 2007 % Change
January 2,015 2,234 -9.8% Jan-Jan 2,015 2,234 -9.8%
February 2,071 2,784 -25.6% Jan-Feb 4,086 5,018 -18.6%
March 2,692 3,158 -14.8% Jan-Mar 6,788 8,176 -17.1%
April 3,190 3,227 -1.1% Jan-Apr 9,968 11,403 -12.6%
May 2,904 3,300 -12.0% Jan-May 12,872 14,703 -12.5%
June 2,082 3,055 -31.8% Jan-Jun 14,954 17,758 -15.8%
July 1,870 2,377 -21.3% Jan-Jul 16,824 20,135 -16.4%
August 4,242 2,877 47.4% Jan-Aug 21,066 23,012 -8.5%
September 2,318 2,837 -18.3% Jan-Sept 23,384 25,849 -9.5%


2007 Corvette Delivery Statistics
Month Calendar Year-to-Date
Month 2007 2006 % Change Months 2007 2006 % Change
January 2,234 2,579 -16.8% Jan-Jan 2,234 2,579 -16.8%
February 2,784 3,058 -9.0% Jan-Feb 5,018 5,637 -11.0%
March 3,158 3,655 -16.7% Jan-Mar 8,176 9,292 -12.0%
April 3,227 3,516 -0.6% Jan-Apr 11,403 12,808 -11.0%
May 3,300 3,317 -4.3% Jan-May 14,703 16,125 -8.8%
June 3,055 2,938 0.1% Jan-Jun 17,758 19,063 -6.8%
July 2,377 2,794 -11.4% Jan-Jul 20,135 21,857 -7.9%
August 2,877 2,990 -3.8% Jan-Aug 23,012 24,842 -7.4%
September 2,837 3,056 -3.5% Jan-Sept 25,849 27,903 -7.4%
October 2,484 2,761 -13.5% Jan-Oct 28,333 30,664 -7.6%
November 2,438 2,773 -12.1% Jan-Nov 30,771 33,437 -8.0%
December 2,914 3,081 -5.4% Jan-Dec 33,685 36,518 -7.8%


Corvette Stock Report:

A check of Jeff Hardy’s website shows a total of 7,821 Corvettes on the ground as of yesterday and can be broken down into:

  • 2007 Corvettes – 210
  • 2008 Corvettes – 2,828
  • 2009 Corvettes – 4,783
Here’s the current breakdown in 2008 Corvette inventory in case you’re still looking to score a deal:
  • 1,265 Corvette Coupes
  • 849 Corvette Convertibles
  • 714 Corvette Z06


Source:
GM.com
JeffHardy.com

Related:
GM: Corvette Production Being Cut to Reduce Supply
August 2008 Corvette Sales

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GM Raises Prices on All 2009 Corvettes

by Keith Cornett on September 30, 2008

GM announced yesterday an across the board price increase on all Corvettes produced on and after September 29, 2009. Coupes, Convertibles, Z06s and the ZR1 will have their MSRP raised by $1,520. This price will effect any Corvette that is not already in dealers stock.

Kerbeck Corvette’s Sales Manager Dave Salvatore told us you are price protected if you have a Customer order date prior to September 29th. He also sent us the new Corvette base prices (not including the $850 destination charge or the ZR1’s gas guzzler tax):

  • Coupe – $48,565
  • Convertible – $53,220
  • Z06 – $73,925
  • ZR1 – $103,970

The good news is that Kerbeck Corvette has over 85 2009 Corvettes in stock at the old price! Call Dave and his team today at 1-877-537-2325 to get the best price available and make sure you tell him CorvetteBlogger sent you!


Sponsored by:
Kerbeck Corvette

Related:
GM: Corvette Production Being Cut to Reduce Supply

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GM: Corvette Production Being Cut to Reduce Supply

by Keith Cornett on September 15, 2008

Corvettes on a dealer's lot

Not since the mid-Nineties has production of the Corvette been slowed due to oversupply, but now it appears that GM will halt production of the iconic sports car next month to lessen supplies during this so-called automotive downturn. Often billed as “recession-proof”, Corvette’s production will be cut by an estimated 20-30 cars per day and layoffs will effect up to 9% of the Bowling Green Assembly Plant’s workforce.

Automotive News has confirmed with GM that production of the Corvette will be halted the week of October 6th and when assembly resumes on October 13th, the assembly line will be slowed from 18.5 to 15 Corvettes per hour. The slower production will result in roughly 20-30 Corvettes per day being eliminated from the supply while the one week shutdown will remove an estimated 700 Corvettes from supply.

Eldon Renaud, President of the UAW Local 2164 in Bowling Green said up to 75 people of the 800 hourly workforce could be laid off. “We’ve weathered a lot of downturns but I think this one has finally lasted long enough and people are concerned enough about the economy that it’s probably having a minor effect.”

Through the first eight months of 2008, Corvette sales fell 8.5% to 21,066. While we saw a 47.4% rebound in August sales when the 2008 Corvette was included in GM’s employee pricing incentive program, GM Spokesperson Sharib Basel says “you can’t count on incentives holding down inventories through the balance of the year.”


Source:
Automotive News via Autoblog

Related:
August 2008 Corvette Sales

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August 2008 Corvette Sales

by Keith Cornett on September 4, 2008

To say that GM’s two rebate programs in August – the 0% Financing offer and the Employee Discount Program has given new life to sales of Corvettes is an understatement, much like saying the Corvette ZR1 is just another sports car. Sales of new Corvettes in August 2008 shot up to 4,242 units from 1,870 units the month before, and year to year Corvette deliveries are up 47%. Despite the fact that 2009 Corvettes are now in dealer showrooms, customers turned out overwhelming to purchase 2008 Corvettes – over 3,100 of them – based on a comparison of this month’s Corvette Stock Report compared to what we saw at the beginning of last month.

While we usually save the Corvette Stock Report for after the monthly sales tables, its important to highlight just what effect the Employee Discount Program for Everyone has accomplished. At the beginning of August, there were a total of 7,162 2008 Corvettes available. As of yesterday that number has dropped to 4,033 units. That’s a reduction of last year’s inventory by 56% in just one month.

The good news is that GM has extended the Employee Discount Program though the month of September so the hope is the buying surge will continue to reduce levels of 2008 inventories including the Corvette.

2008 Corvette Delivery Statistics
Month Calendar Year-to-Date
Month 2008 2007 % Change Months 2008 2007 % Change
January 2,015 2,234 -9.8% Jan-Jan 2,015 2,234 -9.8%
February 2,071 2,784 -25.6% Jan-Feb 4,086 5,018 -18.6%
March 2,692 3,158 -14.8% Jan-Mar 6,788 8,176 -17.1%
April 3,190 3,227 -1.1% Jan-Apr 9,968 11,403 -12.6%
May 2,904 3,300 -12.0% Jan-May 12,872 14,703 -12.5%
June 2,082 3,055 -31.8% Jan-Jun 14,954 17,758 -15.8%
July 1,870 2,377 -21.3% Jan-Jul 16,824 20,135 -16.4%
August 4,242 2,877 47.4 Jan-Aug 21,066 23,012 -8.5


2007 Corvette Delivery Statistics
Month Calendar Year-to-Date
Month 2007 2006 % Change Months 2007 2006 % Change
January 2,234 2,579 -16.8% Jan-Jan 2,234 2,579 -16.8%
February 2,784 3,058 -9.0% Jan-Feb 5,018 5,637 -11.0%
March 3,158 3,655 -16.7% Jan-Mar 8,176 9,292 -12.0%
April 3,227 3,516 -0.6% Jan-Apr 11,403 12,808 -11.0%
May 3,300 3,317 -4.3% Jan-May 14,703 16,125 -8.8%
June 3,055 2,938 0.1% Jan-Jun 17,758 19,063 -6.8%
July 2,377 2,794 -11.4% Jan-Jul 20,135 21,857 -7.9%
August 2,877 2,990 -3.8% Jan-Aug 23,012 24,842 -7.4%
September 2,837 3,056 -3.5% Jan-Sept 25,849 27,903 -7.4%
October 2,484 2,761 -13.5% Jan-Oct 28,333 30,664 -7.6%
November 2,438 2,773 -12.1% Jan-Nov 30,771 33,437 -8.0%
December 2,914 3,081 -5.4% Jan-Dec 33,685 36,518 -7.8%


Corvette Stock Report:

A check of Jeff Hardy’s website shows a total of 7,605 Corvettes on the ground as of yesterday and can be broken down into:

  • 2007 Corvettes – 261
  • 2008 Corvettes – 4,032
  • 2009 Corvettes – 3,312
For those of you looking to score on a 2008 Corvette, here’s the current breakdown in 2008 Corvette inventory:
  • 2,006 Corvette Coupes
  • 1,042 Corvette Convertibles
  • 984 Corvette Z06


Source:
GM.com
JeffHardy.com

Related:
Save Up To $10K On 2008 Corvettes With GM’s Employee Pricing
GM Offering 0% Financing on 2008 Corvettes
July 2008 Corvette Sales

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Final 2008 Corvette Production Numbers

by Keith Cornett on September 3, 2008

2008 Corvette Production

2008 was a banner year for the Corvette. The model year received a mid-cycle upgrade that featured the new 6.2 Liter LS3 engine with 436 horsepower, new interior choices and two exciting new colors, Jetstream Blue and Crystal Red Metallic. Two special edition Corvettes were built, the Z44 Corvette Z06 427 edition and the Z4Z 30th Anniversary Indianapolis Pace Car. Demand for new Corvettes translated into 35,310 Corvettes produced, and for the first time since its re-introduction in 2001, the Z06 outsold the convertible.

The Bowling Green Assembly Plant’s release of 2008′s Corvette Production Figures shows that 7,731 (22%) Corvette Z06s were built compared to 7,549 (21%) Corvette Convertibles. This is lowest output of Convertibles since 1996 when only 4,369 were produced. The Coupe made up the majority of production with 20,030 (57%) Corvette Coupes assembled.

When it comes to colors, 1 out of every 4 Corvettes is Black (9,380 – 26.6%). The two shades of red, Victory Red (5,638) and the new Crystal Red (5,420) make up 31.3% of colors produced. The other new color for 2008 was Jetstream Blue, which accounted for 3,728 Corvettes (10.26%). That figure was in line with 2007′s LeMans Blue in which 3,854 were made. What’s also interesting is how this report from the assembly plant references the two new colors: Jetstream Blue is called Bluestream and Crystal Red is called Crystal Claret. Hmmmm.

Corvette’s popularity abroad remained strong for 2008. Exports to Europe were 1,300 (3.7), Canadian Units totaled 643 (1.8%), and Corvettes exported to Mexico totaled 32 (0.1%).

Here are selected highlights from the final 2008 Corvette Production Numbers:

Corvettes Produced Amount Percent    
         
Coupes 20,030 57%    
Convertibles 7,549 21%    
Z06 Hardtops 7,731 22%    
  _______ _______    
Total 35,310 100%    
         
         
Exterior Colors Total Coupe Convertible Z06
         
10U Artic White 1,974 1,320 654 0
41U Black 9,380 4,977 1,818 2,585
45U Velocity Yellow 3,264 1,816 550 898
67U Machine Silver 3,660 2,088 753 819
74U Victory Red 5,638 3,120 1,116 1,402
83U Atomic Orange 2,246 1,272 458 516
85U Bluestream 3,728 2,067 655 1,006
89U Crystal Claret 5,420 3,370 1,545 505
         
         
Convertible Top Colors Total      
         
35T Gray Beige 1,779   1,779  
37T Titan Gray 630 0 630  
41T Black 5,140 0 5,140  
         
         
Interior Colors Total Coupe Convertible Z06
         
02I Cobalt Red 2,207 989 506 712
19I Ebony 20,730 12,837 3,242 4,651
24I Ebony/Brick 689 256 138 295
31I Light Cashmere 4,940 2,952 1,988 0
42I Ebony/Lt Linen 1,669 632 367 670
78I Ebony/Dk Titanium 505 0 0 505
84I Light Titanium 4,570 2,364 1,308 898
         
         
Transmissions Total Coupe Convertible Z06
         
MM6 6-Speed Manual 11,760 3,235 794 7731
MX0 6-Speed Auto Paddle 19,136 13,304 5,832 0
MZ6 6-Speed Manual w/Z51 4,414 3,491 923 0
         
         
Wheels Total Coupe Convertible Z06
         
QG6 Base Aluminum 7,828 6,701 1,127 0
QG7 Polished Aluminum 5,412 3,973 1,439 0
QL9 Z06 Polished Aluminum 970 0 0 970
QX1 Comp. Gray Painted Aluminum 1,781 1,588 193 0
QX3 Chrome 9,626 6,063 3,563 0
Q10 Z06 Base 760 0 0 760
Q44 Z06 Comp. Gray 395 0 0 395
Q76 Z06 Chrome 5,101 0 0 5,101
Q8A Z06 427 SE 505 0 0 505
Q9V Forged Chrome 2,932 1,705 1,227 0
         
         
Other Options Total Coupe Convertible Z06
         
C2L Dual Roof Pkg 2,773 2,773 0 0
F55 Magnetic Select Ride 4,666 2,959 1,707 0
NPP Dual Mode Exhaust 13,454 9,254 4,200 0
R8C Museum Delivery 954 471 284 199
UV6 Heads Up Display 25,493 10,973 6,789 7,731
U2K XM Satellite Radio 33,561 19,086 7,348 7,127
Z51 Performance Handling Pkg 10,706 7,757 2,949 0
         
         
Export Units Total Coupe Convertible Z06
CV3 Mexican Export 32 24 8 0
MAE European Export 1,300 656 172 472
Z49 Canadian Export 643 212 181 250
         


Source:
Bowling Green Assembly Plant via CorvetteConti.com

Related:
Official 2008 Corvette Pricing Announced
Final 2007 Corvette Production Numbers

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2008 Corvette Pace Cars Now Discounted with Employee Pricing

One of the most successful incentive programs offered by GM is now back and the good news is Corvettes are included. Employee pricing for everyone runs through September 2nd and Corvette buyers can save a significant amount on 2008 Coupes, Convertibles and the Z06.

Usually Corvettes are excluded from most of GM’s incentive programs but due to the number of 2008 Corvettes available on dealers lots – 5,854 as of yesterday – the General wants them sold to make room for the 2009 Corvettes now rolling off of the Bowling Green Assembly line.

The discounts are fairly significant too. In the case of the 505 horsepower Z06 where base prices start around $72,000 the discounts can be close to $10,000 off!

Our friends at Kerbeck Corvette only have a few 2008′s left including a Black Z06 and a Indianapolis 500 Pace Car coupe so if you want to get in on the discounts you better give Dave and the gang a call immediately at 1-877-537-2325. Make sure you tell them CorvetteBlogger sent you!


Sponsored by:
Kerbeck Corvette

Related:
July 2008 Corvette Sales

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July 2008 Corvette Sales

by Keith Cornett on August 4, 2008

Sales of New Corvettes continue to decline with July 2008 being one of the worst months on record in recent years. GM’s July sales report show only 1,870 new Corvettes were delivered, a decline of -10.2% from June 2008 and -21.3% over July 2007. For the 2008 Calendar Year, 16,824 Corvettes have been delivered, a decline of -16.4% over the same six-month period in 2007.

July has traditionally been a month where we witness some pullback in deliveries due to the model year changeover and the annual two week plant shutdown at the Bowling Green Assembly Plant. With record inventories on hand though at the beginning of the month, its unlikely that either the model year changeover or the plant shutdown played any role in the reduction of sales in July.

The decision by GM to offer 0% financing on 2008 Corvettes couldn’t have come at a better time for dealers or consumers. The offer includes all three models with 48 months 0% APR for Coupes and Z06s and 60 months 0% APR for Convertibles.

2008 Corvette Delivery Statistics
Month Calendar Year-to-Date
Month 2008 2007 % Change Months 2008 2007 % Change
January 2,015 2,234 -9.8% Jan-Jan 2,015 2,234 -9.8%
February 2,071 2,784 -25.6% Jan-Feb 4,086 5,018 -18.6%
March 2,692 3,158 -14.8% Jan-Mar 6,788 8,176 -17.1%
April 3,190 3,227 -1.1% Jan-Apr 9,968 11,403 -12.6%
May 2,904 3,300 -12.0% Jan-May 12,872 14,703 -12.5%
June 2,082 3,055 -31.8% Jan-Jun 14,954 17,758 -15.8%
July 1,870 2,377 -21.3% Jan-Jul 16,824 20,135 -16.4%


2007 Corvette Delivery Statistics
Month Calendar Year-to-Date
Month 2007 2006 % Change Months 2007 2006 % Change
January 2,234 2,579 -16.8% Jan-Jan 2,234 2,579 -16.8%
February 2,784 3,058 -9.0% Jan-Feb 5,018 5,637 -11.0%
March 3,158 3,655 -16.7% Jan-Mar 8,176 9,292 -12.0%
April 3,227 3,516 -0.6% Jan-Apr 11,403 12,808 -11.0%
May 3,300 3,317 -4.3% Jan-May 14,703 16,125 -8.8%
June 3,055 2,938 0.1% Jan-Jun 17,758 19,063 -6.8%
July 2,377 2,794 -11.4% Jan-Jul 20,135 21,857 -7.9%
August 2,877 2,990 -3.8% Jan-Aug 23,012 24,842 -7.4%
September 2,837 3,056 -3.5% Jan-Sept 25,849 27,903 -7.4%
October 2,484 2,761 -13.5% Jan-Oct 28,333 30,664 -7.6%
November 2,438 2,773 -12.1% Jan-Nov 30,771 33,437 -8.0%
December 2,914 3,081 -5.4% Jan-Dec 33,685 36,518 -7.8%


Corvette Stock Report:

A check of Jeff Hardy’s website shows a total of 7,162 Corvettes on the ground of yesterday. That’s good news considering at the beginning of July, that number had ballooned up to 8,760 Corvettes. We may already be seeing the effect of the 0% financing offer as we ran the numbers just three days ago and since then 330 2008 Corvettes were sold over the weekend. Here’s the current breakdown in 2008 Corvette inventory:

  • 3,781 Corvette Coupes
  • 1,742 Corvette Convertibles
  • 1,639 Corvette Z06

According to the site, there are 325 2007 Corvettes still available at dealers across the nation.


Source:
GM.com
JeffHardy.com

Related:
GM Offering 0% Financing on 2008 Corvettes
June 2008 Corvette Sales

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GM Offering 0% Financing on 2008 Corvettes

by Keith Cornett on August 1, 2008

The 2008 Corvette Z06

We knew it was coming and GM didn’t let us down. As soon as the 2009 Corvettes started hitting dealer showrooms, GM has announced a 0% financing offer on all new 2008 Corvette models including the Z06. This is a great opportunity for buyers to save thousands of dollars on interest payments as well as help dealers clear excess inventory to make way for the 2009 models.

The 0% financing offer goes into effect this weekend with terms up to 48 months for coupes and Z06 and 60 months for convertibles. A quick check of Jeff Hardy’s website shows the remaining 2008 Corvettes broken down as of yesterday to be:

  • 3,947 Coupes
  • 1,841 Convertibles
  • 1,704 Z06s.

If you’ve been waiting for a traditional model year end rebate, you’re in luck. Those that jump the quickest will have the greatest selection of 2008 Corvettes to choose from and the special offer expires on 8/19/08. Visit our friends at Kerbeck Corvette and Dave and gang will get you into the Corvette of your dreams.


Source:
GM.com
JeffHardy.com

Related:
June 2008 Corvette Sales

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GM Cutbacks Extend to Corvette Program

by Keith Cornett on July 28, 2008

Gary ClaudioLast week GM CEO Rick Wagoneer announced an ambitious plan to cut costs across the board and we are now hearing the cuts will impact two members of the Corvette team. Gary Claudio, Corvette’s current marketing manager and dealer liaison is being moved to a position at Chevrolet Racing. The marketing manager duties will be shifted to Corvette Product Manager Harlan Charles.

Thanks Gary for your service to Corvette and good luck with your future endeavors.

We’ll continue to watch the goings-on at GM and will bring you news as it impacts Corvette.


Related:
Video: Chevrolet’s Harlan Charles Shows Off the Corvette ZR1 Technorati Tags:
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