General Motors management announced today that it will invest $131 million in the Corvette factory in Bowling Green, Kentucky, and add 250 jobs at the facility. The announcement also included a statement that the current C6 generation of Corvette will continue for at least the next two model years - so look to 2013 as the earliest that we might see a C7 Corvette as a 2014 model. This investment will prepare the factory for that changeover.
"This is a significant day for anyone who believes that America should build world-class, high-performance products," said Mark Reuss, GM North America president. "Corvette has no domestic peer for performance and pedigree, and stands alongside the world's best supercars, with almost 60 years of continuous heritage."
In other news, auto sales are soaring this year as the unemployment rate is finally dropping. GM is well-positioned to improve its market share due to the arrival of the Cruze and other fuel-efficient options - and some of that improvement will also come from increased Corvette sales as the economy recovers. With the announcement of this investment in the Corvette factory, it's a clear sign that GM management is betting on better days ahead for Corvette.