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GM plans $290 million investment in Corvette plant

5K views 34 replies 27 participants last post by  5.3Avalanche 
#1 ·
GM plans $290 million investment in Corvette plant
https://finance.yahoo.com/news/gm-plans-290-million-investment-corvette-plant-130923602.html

June 24, 2016
The AP

Kentucky officials say General Motors Corp. plans to invest $290 million at the automaker's Corvette plant in Bowling Green



BOWLING GREEN, Ky. (AP) -- Kentucky officials say General Motors Corp. plans to invest $290 million at the automaker's Corvette plant in Bowling Green.

The company's North American manufacturing manager, Arvin Jones, said Friday the investment includes technology upgrades to improve the Kentucky plant's manufacturing process.

The investment announcement was made by Gov. Matt Bevin's office in Frankfort.

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#2 ·
So if they were going to switch the Vette over to mid-engine, would it make sense to make these upgrades? Though they are pretty vague about exactly what they are doing, I'd assume $290 million isn't enough for the wholesale change to mid-engine. However, I could be wrong as I don't have any automotive background.
 
#3 ·
So if they were going to switch the Vette over to mid-engine, would it make sense to make these upgrades? Though they are pretty vague about exactly what they are doing, I'd assume $290 million isn't enough for the wholesale change to mid-engine. However, I could be wrong as I don't have any automotive background.
Or is it enough to add capability to assembly a rear-mid engine vehicle (Corvette or Cadillac) along side the current C7?
 
#11 ·
If Corvette was to switch to a proper mid-engned set up, would that mean a big price increase
or could the changes be done in such a way as to keep the cars affordable?

Would it then be a smart move to consider a TTV6 engine option like the Ford GT?

I'm wondering how GM could make all those changes and still keep hold of existing buyers.
 
#31 ·
You don't build a new paint shop for 1 vehicle.
So then what?
A DeLorean type finish then?

no one operates single product production lines anymore,
What is Lordstowns second product, Cruze and ?

This cash, plus the outlay for the new paint shop, means an increased prominence for Bowling Green besides being the home of the Corvette.
Money allocated and/or spent on a facility does not solidify its future. GMs own track record will back that up.
No Fiero from the Craft Centre, which has been razed. Reatta, Cavalier/Sunfire convertible, Eldorado, EV1, SSR. Was a RWD axle plant previously.
Convertible cavaliers and sunfires were made just down the road from Lordstown assembly. They took regular coupes and sawzalled the roofs off. Think it was called ACS, talked with a few guys who worked there years back before GM acquired the company.

People need to remember that while $290M IS a lot of money it does not go very far in a large manufacturing operation. Some $375M+ was used back in 2010 for the first gen cruze and much of the equipment was used, from OK city.
 
#20 ·
Seems like a lot of money for a 55 to 120k dollar sports car that sells in the range of 36k units a year.

290 million dollar plant upgrade?

I'd imagine this would be to facilitate another model such as a mid engine variant.

It ll be cool to see a mid engine corvette finally hit production. I imagine it lol cost somewhere near the mclaren 570 or the Acura nsx...

That's the 150 to 188 grand level.

I won't be buying one but it is cool....

Would we go nuts if the mid engine model was c8 and prices started for the LT1 at 60. Grand...lol
 
#25 ·
Oh I disagree in full. The Corvette perfectly represents the core component of the Chevrolet brand; value. Luxury brands are identified and attract customers by using suggestive, nonnumerical metrics like sex appeal and image. Value brands like Chevy, Ford and Toyota attract customers with real numerical figures that epitomizes value like fuel economy, warranty, cost of ownership and so on. There is nothing on planet Earth that touches the value, price per performance, of the Corvette. The C7 is the bargain of the industry, IMO. And the C7 is still riding on the same foundation from 1997 and destroying modern supercars! Nothing can display a brand's value proposition better than a $55k-80k car murdering $200k-400k Ferraris and Lambos. The C8 will be an absolute marvel when it debuts just like the C5 that was decades ahead of its time.
 
#23 ·
This cash, plus the outlay for the new paint shop, means an increased prominence for Bowling Green besides being the home of the Corvette.

My best guess is that it will allow for a second/enhanced assembly line for a mid-engine Corvette and/or Cadillac... and possibly an in-house customization and restoration shop like those at Aston Martin and Ferrari.
 
#32 ·
Yes, doubtless GM intends to shutter Bowling Green immediately after putting in a new paint shop. Even poor old Oshawa got a decade out of theirs before the end started looming large.

Having come from Oshawa I'm aware that this cash, in and of itself, is not a huge number. But it may be enough to allow manufacturing flexibility for both front and mid-engine aluminum frames, especially if said frames use similar manufacturing techniques.
 
#35 ·
I hope GM keeps the standard Corvette and pricing structure, and then just adds this new mid engine car (whether it's a Corvette, or a Cadillac, or a new model...) so they don't jeopardize losing all of the current Corvette clientele. I'm one of those people, and I like the configuration of my car the way it is with the great value proposition, great mileage, great performance, and great trunk size. You take one of those away and I'm not sure I'd buy it....I don't care how fast it is.
 
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