According to multiple unnamed sources speaking with Autoweek, General Motors has put its plans for a C7 Corvette on "indefinite hold, with no official or set timetable." That's a pretty broad admission, but not entirely surprising considering the financial issues plaguing GM, the rest of the domestics and the world as a whole.
Originally it was thought that the current C6 Corvette would undergo significant upgrades over the course of the next five years, with the C7 coming to market in 2014. That timeframe doesn't appear to hold water anymore, and Autoweek maintains that GM's leadership doesn't have a clear plan for what the future holds for the 'Vette, not to mention the rest of the General's lineup.
However, Corvette vehicle-line executive Tom Wallace assured the weekly pub that the halo coupe isn't going anywhere. "We're still working on future Corvettes," Wallace said, and "there are changes, some neat stuff, coming for 2010 that I can't talk about yet." Wallace went on to say that the 2010 model wouldn't be considered an all-new car and that the 35-mpg CAFE standards for 2020 are having an effect on future drivetrains specs of the next Corvette.