Quoted from today's Wall Street Journal
By SHARON TERLEP
DETROIT—General Motors Co. plans to spend around $100 million to upgrade its Corvette factory in Bowling Green, Ky., people familiar with the situation said, the latest sign that auto maker's penny-pinching days are behind it.
GM North America chief Mark Reuss is expected to announce the investment on Wednesday at the factory. The improvements would be done in time for the next line of Corvettes, not expected until around 2013.
The Corvette's future was never in question. But GM, as it headed into bankruptcy couple of years ago, halted spending on several vehicles programs. In the last year, the company has disclosed plans to invest several billion dollars in its North American factories and rehire thousands of workers.
The auto maker has been regaining sales steam this year; Corvette sales, meanwhile, are up 15% through April from a year ago.
In addition to the factory improvement, the car itself is getting some upgrades. Changes to the 2012 models, which go on sale later this year, include a racing-style spoiler, an upgraded stereo system, and new options that include new racing tires and a carbon-fiber hood. Many of the enhancements are for the high-performance models, but some apply to entry-model Corvettes.
By SHARON TERLEP
DETROIT—General Motors Co. plans to spend around $100 million to upgrade its Corvette factory in Bowling Green, Ky., people familiar with the situation said, the latest sign that auto maker's penny-pinching days are behind it.
GM North America chief Mark Reuss is expected to announce the investment on Wednesday at the factory. The improvements would be done in time for the next line of Corvettes, not expected until around 2013.
The Corvette's future was never in question. But GM, as it headed into bankruptcy couple of years ago, halted spending on several vehicles programs. In the last year, the company has disclosed plans to invest several billion dollars in its North American factories and rehire thousands of workers.
The auto maker has been regaining sales steam this year; Corvette sales, meanwhile, are up 15% through April from a year ago.
In addition to the factory improvement, the car itself is getting some upgrades. Changes to the 2012 models, which go on sale later this year, include a racing-style spoiler, an upgraded stereo system, and new options that include new racing tires and a carbon-fiber hood. Many of the enhancements are for the high-performance models, but some apply to entry-model Corvettes.
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