If there’s one thing GM is selling, it’s Corvettes. Even with the recent major restructuring as a result of the recent bankruptcy, Corvettes are still a hot item, and GM knows it. Many speculated that bankruptcy would mean the ‘Vette would go the way of the Sky or other marques that GM has done away with in recent years – not so, according to CEO Henderson on June 5th, after the filing. It is still profitable and will remain “the V8 engineering rear wheel drive icon we all love,” according to a question asked by a participant during the live chat session. According to Henderson, the brand will continue as part of a slimmed down, leaner and meaner GM. And recent word on the street has it that GM won’t be doing away with the company’s racing programs, including Corvette Racing – another bright spot on what otherwise might be a bleak horizon for GM’s near future.
For sportscar enthusiasts, this is happy news – the loss of a brand that has always been an icon of American sportscars would leave huge shoes that would not be easily filled. When brushing up on accounts of Corvette history, it’s amazing to see how many major engineering achievements have been developed by GM for Corvette over the years. From the Stingray to the dominance of the 1984 Corvette in showroom stock racing, many advancements have been either pioneered or made widespread by GM on the Corvette. The day the car world lost that type of R&D would be a sad one indeed.
Likewise, the loss of Corvette would mean the loss of a brand that has historically made supercar performance available to more than just the very rich. With the heralded release of the 2009 ZR1, supercar style and performance became available for a slightly over $100K price tag. The supercharged LS9 engine boasts over 400hp, and from its Corvette ZR1 wheels to its aggressive styling, nobody can deny that it competes with cars in much higher price brackets.
And finally, there’s the issue of performance. The wide aftermarket support for Corvette parts means that anyone can pick up a used Corvette and have an affordable, competitive track or street car. Were GM to discontinue this brand, they’d not only lose sales of a popular car, they’d disappoint many who have grown up owning and loving these cars. In Henderson’s remarks, we find the silver lining to the cloud of GM’s bad news.