Filed under: Sports/GTs, Hirings/Firings/Layoffs, Plants/Manufacturing, Chevrolet
Chevy to temporarily halt Vette production due to economy
by Michael Harley on Sep 15th 2008 at 9:01AM 
Click above for a high-res gallery of the 2009 Corvette ZR1
It's been more than a decade since the "recession-proof" Chevrolet Corvette had to endure a production cut due to excess dealer inventory, but that's apparently the case once again. Citing slow sales related to the ongoing automotive recession, GM will turn off the Corvette's factory lights during the week of October 6th. When Vette assembly resumes the following week, production will be scaled back to 15 cars per hour (normal speed is 18.5 cars per hour). Unfortunately, GM says layoffs will accompany the new schedule at the Bowling Green facility, with up to 75 workers losing their jobs. While surprising, the news isn't entirely unexpected. Corvette sales were down 8.5 percent for the year through August of 2008. They only rebounded after GM included the model in its employee pricing sale... and we all know a shot in the arm like that won't hold out over time.
Gallery: 2009 Chevy Corvette Z06
Gallery: First Drive: 2009 Corvette ZR1
[Source: Automotive News]
Reader Comments (Page 1 of 3)
No Welfare for GM 9:19AM (9/15/2008)
I guess this will finally convince auto "enthusiasts" that GM is doing badly.
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Papi L-Gee 10:27AM (9/15/2008)
Every GM fan out there worth his salt knows that the company is in dire straits.
why not the LS2LS7? 1:25PM (9/15/2008)
Virtually every company is experiencing reduced sales due to the economic slowdown. A drop of 8.5% is actually rather good compared to the industry as a whole.
Of course, GM has a lot of cars that have dropped in sales much more than 8.5%.
boot 2:21AM (9/16/2008)
Heckuva job, Dubya!
Mike 12:01PM (9/16/2008)
Boot, what kind of idiot are you. All this 'economic turmoil' with banks, housing and gas started when the Democrats took over Congress and the Senate.
Lou 9:19AM (9/15/2008)
My theory: base Corvettes are obtainable by the middle class by stretching the finances. I have been guilty of this in the past regarding the purchase of a new Vette. With economic conditions being what they are, that scenario is totally out. I would assume Porsche and Ferrari would not be so adversely affected as I expect their core customer to be less economically sensitive. I would love to own a 911 or 430, but I know the Vette would be the purchase for me...in a stronger economy anyway. Okay, have at me!
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BigMcLargeHuge 9:33AM (9/15/2008)
Porsche sales tanked in August. Something like 45% down year-on-year.
http://www.autoblog.com/2008/09/03/by-the-numbers-august-2008-new-digs-edition
I think the Cayman, Boxter, and Carrera are very similar to what you describe the Corvette as: a stretch for the upper-middle class.
Ferrari doesn't show up in these reports. Either they're too small or feel they are above reporting on AB (joke).
Mobius_1 10:08AM (9/15/2008)
Ferrari have such a brand that they are above economic changes, and despite all the doom and gloom, they continue to "sell every car they make, and make a profit on every car they sell". And anyways, their waiting list is a couple of years long.
neil sorenson 1:28PM (9/16/2008)
Not exactly true, I have a c6 convert and am in the upper middle class as you put it. I also work for a Porsche store and business is really slow at this level. You can purchase right now at near dead cost, and the cheap rich people are taking advantage of it. Most people are buying family cars at the moment until the financial market changes.
Corey W. 9:21AM (9/15/2008)
Vette used to be the poor man's sports car, they probably should have kept to that way of thinking, maybe even offering a smaller engine.
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Eddie 9:33AM (9/15/2008)
For $46,000 the Vette is damn cheap. Any cheaper and they would have to sacrifice performance and quality. Besides, I don't see a V6 Vette selling well.
Corey W. 9:45AM (9/15/2008)
Looking at the economy, "cheap" does not mean what it use to be. The Vette is not a Ford GT or Viper, yes it competes in that range but GM needs to sell a lot more Corvettes than they do.... If not the Corvette will see the same situation it once saw when they were going to kill it, remember the C5 almost didn't happen....
why not the LS2LS7? 1:26PM (9/15/2008)
The Camaro comes out in a few months. It's always been the true poor-man's sports car (at least from GM), and now with independent rear suspension, it'll be even more so.
Corey W. 2:24PM (9/15/2008)
This is probably going to sound weird, but the Camaro is not a sports car. They're all "performance" type vehicles, but the Mustang, Camaro, Challenger, Charger....etc. belong to the "muscle" or "pony" cars, they don't exactly fit the definition of a true sports car.. like models from companies like Ferrari, Porsche, Lotus, TVR, Shelby, McLauren...etc. Corvette performance/configuration was close to that of cars that cost 2-3 times as much, that's why it was known as the "poor man's" sports car.
This is not any type of hardcore rule, so much advancement as blurred the lines between all these categories anyway. It's just nice to note that cars like the Viper, Corvette, Z4, MX5, GT, Cobras....etc. retain the same qualities that defined what a true sports car was back in the day.
Lou 9:38AM (9/15/2008)
@Big...good point on Porsche. I wonder what the breakdown would be broken out by Cayman/Boxster, Cayenne, and 911 series.
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xcrunk 9:44AM (9/15/2008)
Wahhhhh....we need a bail out.
Wahhhhh.....Toyota is so not fair.
Wahhhhhh....gas prices are killing us.
GM deserves what it gets. Dolts.
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BigMcLargeHuge 10:02AM (9/15/2008)
It is true that a bailout would not help or even change this situation.
Those employees are getting laid off regardless. If the demand is not there on the dealer lots, then there is no reason to maintain production levels.
Its the same all over the company. Don't anyone pretend that a bailout can keep people from getting laid off. Its a nice thought, but not realistic.
hidden_hunter 10:08AM (9/15/2008)
Yes I'd much rather that v8 RWD sportscar that toyota offer.....
Mobius_1 10:14AM (9/15/2008)
Yeah, the LS460 is so totally able to thrash the Vettes around the 'Ring! 9 minutes FTW!
Actually now I really feel like finding out how fast it laps the 'Ring, just for fun, real fun XD
Serge 10:29AM (9/15/2008)
What does Toyota have to do with GM slowing down Vette production because of a difficult market situation?
Seriously, Toyota is not much competition for anyone (even Honduh) in the RWD sports car market... and Honduh makes the S2000... LOL