The Corvette Assembly Plant Played Its Part in Helping GM Reach Record Profits in 2022

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The Corvette Assembly Plant Played Its Part in Helping GM Reach Record Profits in 2022

Photo Credit: Keith Cornett


Some naysayers questioned Chevy’s decision to change the eighth-generation Corvette to a mid-engine format in 2020.

But it’s a decision that has since proven to be the right one financially for not only America’s Favorite Sports Car, but also for parent corporation General Motors.

In fact, GM on Tuesday reported record profits of $14.5 billion on revenue of $43.1 billion for 2022, and the company is giving lots of credit for its “fantastic” year to the Bowling Green facility where the Corvette Stingray and Z06 are assembled.

“Bowling Green has played a part in delivering new technology and innovation,” says Gerald Johnson, Executive Vice President, Global Manufacturing and Sustainability. “Each Corvette as we roll them out C6, 7, C8 … we just keep building upon that because we know that we can trust in the performance of the team down there.”

The company’s success also means about 42,300 of its hourly workers – including some of those at Bowling Green – will soon receive a profit-sharing check of as much as $12,750 each, according to GM spokesman David Caldwell. Eligible workers will receive $1,000 for every $1 billion in annual earnings before interest and taxes, and hourly employees who accrued 1,850 or more compensated hours during 2021 will receive the full payout on Feb. 24.

“GM led the U.S. industry in total sales and delivered the largest year-over-year increase in market share of any OEM, thanks to strong demand for our products and improved supply chain conditions,” GM CEO Mary Barra said in a letter to shareholders.

Johnson called the strong performance of the company “a tribute to the hard work of all of our team members everywhere, all of our employees that helped us overcome COVID issues earlier in the year, supply chain shortages throughout the year.”

It was, Johnson said, “a fantastic finish to a year that we should all be proud of.”


Source:
WBKO

Related:
[VIDEO] Go Behind the Scenes at the Corvette Assembly Plant with Savage Geese
Corvette Stingray/Z06 Production Notes for December 2022
RUMOR: GM May Move the Performance Build Center from Bowling Green to Michigan

 



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3 COMMENTS

  1. By overcharging customers for inferior products that are poorly built and extremely unreliable.

  2. But where is my Corvette I have been patiently waiting for for two years now? And why have some gotten there’s within a year? Will GM please comment!

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