GM plans to reveal $100M upgrade to Corvette factory

May 4, 2011

GM plans to reveal $100M upgrade to Corvette factory

/ The Detroit News
General Motors Co. today plans to announce it will invest $100 million to upgrade its Bowling Green, Ky., factory, where it makes the iconic Chevrolet Corvette, according to a person familiar with the plans.
GM North American President Mark Reuss is scheduled to make the announcement at the plant this morning, the person said. Reuss will be joined by Kentucky Gov. Steve Beshear and other public officials.
It’s unclear whether the improvements will add jobs at the plant, which employs 471 workers. No other details on the investment were available.
GM sells very few Corvettes each year, despite the car’s racing prestige and popularity among enthusiasts. Last year, GM sold 12,624 Corvettes, a figure representing less than 1 percent of its total U.S. sales volume.
Pricing on the base model is $53,600; the high-end performance model — the mostly hand-built ZR1 — sells for $111,000.
Chevrolet is also enhancing the 2012 model year Corvette with a new seat design, an improved stereo and new tire options.

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