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GM investing $439 million in Corvette plant

General Motors is slowly trickling out announcements about its $5.4 billion in US plant upgrades over the next three years. The latest one is something that fans of one of America's most beloved sports car will be happy about. The Bowling Green, KY, factory that assembles the Chevrolet Corvette is receiving $439 million of those funds to build a new paint shop. Covering 450,000 square-feet, the site will make painting the 'Vette more efficient and environmentally friendly. The upgrades there include robots that use paint more effectively, technology to eliminate sludge water, LED lighting to improve inspections, and less energy-intensive baking ovens. While the groundbreaking is already complete for the building, full construction is expected to begin this summer and take two years. This is the biggest upgrade for the Kentucky factory in a few years. In preparation for the latest Corvette, the Bowling Green plant received $131 million in 2011 for upgrades and to add more workers there. Related Video: Chevrolet Corvette Plant Gets $439 Million in Upgrades New, environment-friendly paint shop drives efficient production, retains 150 jobs 2015-05-21 BOWLING GREEN, Ky. – Torch Red, Shark Gray Metallic and Laguna Blue Tintcoat, three popular palate choices on the 2015 Corvette, kept the marketers who make up names working late. Now they can dream about more painstakingly precise pigments, thanks to a new paint shop that is among $439 million being invested at the only plant in the world that builds Chevrolet's iconic sports car. General Motors announced the moves today that include retaining 150 jobs and building the 450,000 square-foot paint shop that is almost half the size of the entire current production facility. The investment builds on approximately $135 million GM has invested in the plant over the last four years for the new Corvette Stingray and Performance Build Center. The announcement was followed by a groundbreaking event for the new paint shop. "The Corvette is one of Kentucky's most-cherished icons," said. Lt. Gov. Crit Luallen. "Such a significant expansion of the Bowling Green Assembly Plant will help the company remain competitive in the region and around the world." Construction of the new paint shop, which includes substantial technology upgrades, is planned to begin this summer and take approximately two years to complete. Corvette production schedules will be unaffected by the construction.

GM profits threatened by glut of pickups

Automotive News reports that General Motors may slash production or ramp up discounts in order to deal with an oversupply of pickup trucks. GM currently has more than double the standard supply of pickups, and the vehicles are threatening to dampen the automaker's profits for 2013. Typically, automakers try to sustain a 60- to 75-day supply of vehicles, but GM is currently loaded with a 139-day supply, as of last month. At the end of November, the automaker was sitting on 245,853 units.
The manufacturer says that it will adjust production accordingly before laying any incentives on the profitable pickups. Even so, there's some concern that the inventory swell could hurt the roll-out of the next-generation Chevrolet Silverado and GMC Sierra. GM actually began slowly stepping back production in August, but it's clear the company will take further action as it heads toward the end of the year and into the next. Analysts predict the automaker could reduce pickup manufacturing by nearly half in the first quarter of 2013.
That still may not be enough to keep GM from laying extra cash on the Silverado and GMC Sierra. While the company's incentive spending was down in November compared to the same month in 2011, both the Ram 1500 and Ford F-150 saw double-digit percentage increases in sales last month while the Silverado and Sierra numbers slid compared to a year prior. Incentive spending could help move more trucks and add some balance to the GM inventory surge.

Did the Chevy Corvette Z06 break 7 minutes at the Ring? Not likely

"Just because it's on the internet doesn't make it true." That's rule number one, two and arguably, three, of surfing the world wide web. In today's example of this rule, we have the following. The website HorsepowerKings is claiming that a 2015 Chevrolet Corvette Z06, with the eight-speed automatic and Z07 package, managed to lap the Nurburgring Nordschleife in under seven minutes. To put that in perspective, that super-quick time would put the 650-horsepower, $97,000 (the price of a 2LZ with the Z07/8AT combo) Z06 a mere two seconds slower around the world's most challenging race track than the $929,000, 887-horsepower Porsche 918 Spyder Weissach. It's about eight seconds quicker than Nissan's own test of the GT-R Nismo Track Pack and 13 seconds faster than a Dodge Viper ACR. Unfortunately, Chevy says there isn't anything to it. We reached out to the Bowtie's Monte Doran, who confirmed that HK's claims are "not accurate." "Any one – a manufacturer, a journalist, a guy standing on the fence of the Ring – can claim a lap time. As such, we think the in-car video is essential to proving a time is real and credible, and Chevrolet will not release a lap until we have a video to substantiate the claim," Doran told Autoblog. "Chevrolet accumulated nearly 1,000 miles of testing on the Nurburgring with the Z06. During that time, we only had two opportunities to run a lap on video – and both were rained out. If we get a lap on video, we will post an official time." Doran finished by referencing the "only official lap time" for the Z06 – a 2:41 around the Virginia International Raceway. Frankly, we aren't terribly surprised by Chevy's position. One would imagine if the Z06 were matching million-dollar hypercars around the 'Ring, the company would literally be screaming about it from Renaissance Center's rooftop. As this is quite the opposite of that, though, we're betting that the real Z06 lap time - while still likely very, very fast – won't be quite quick enough to frighten the brightest and best of today's hypercars.