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Why the Corvette is Chevrolet's billion-dollar baby

Edmunds has worked up a piece that tries to figure out just how much the global Chevrolet Corvette economy is worth, a spitballed guesstimate putting the number at more than $2.5 billion with the proviso that the number is probably low. It starts by taking Corvette's new car sales of 14,132 units last year, which would equate to $714,725,900 (including destination) assuming ever car sold was a base coupe with no options. In the final tally, a little extra padding gets that number up to $750,000,000.
But that's not all. Consider this: Many of the almost 1.4 million Corvettes produced over the model's history are still on the road. There are new parts being produced and aftermarket companies like Mid-America Motorworks deaing business, that single Illinois company doing more than $40 million a year in sales. There are the Corvette events large and small, restorers who do nothing but Corvettes, salvage yards that deal only in used Corvette parts and the Corvette magazines where owners find all this stuff.
And then there are the Corvette-themed tchotchkes, every single one of which provides a tiny contribution to the huge licensing royalties that General Motors collects every year. The article admits there's no way to come to an accurate number, but it just goes to show how valuable one specific model can be to a company.

GM says over 40% of new China launches in next five years will be EVs

SHANGHAI — General Motors is planning an electric car offensive in China with more than 40% of its new launches in the country over the next five years set to be electric vehicles (EVs), the U.S. carmaker said on Wednesday. GM's electric vehicles, many of which will be all-electric battery cars, will be manufactured in China with almost all parts coming from local suppliers, the company said in a statement released at its Tech Day event in Shanghai. Reuters reported earlier on Wednesday that GM was planning to overhaul its Chinese line-up to stem a slide of sales after more than two decades of growth in a country that contributes nearly a fifth of its profit. GM's new China boss Julian Blissett told Reuters that new technologies, such as EVs and cars with near hands-free driving for highways, would play a key role in GM's China initiatives, which are part of a push to get annual sales in the country back to the 4 million peak it hit in 2017. GM did not say in its statement how many new or significantly redesigned models it was planning to launch in China over the next five years. "China will play a crucial role in making our vision a reality," GM CEO Mary Barra said in the statement, referring to its initiative to create what it describes as a future of "zero crashes, zero emissions and zero congestion" through electrification and smart-driving technologies. GM has said it plans to invest more than $20 billion in electric and automated vehicles globally by 2025. It was not clear how much of that investment will be spent in China. (Reporting by Norihiko Shirouzu in Shanghai; Editing by David Clarke) Related Video: Green Buick Cadillac Chevrolet GM Electric China

2017 Chevy Bolt Prototype Quick Spin [w/video]

To say that there's a lot riding on the upcoming Chevy Bolt doesn't quite get at how important this all-electric vehicle could be for GM. To say that there's a lot riding on the upcoming Chevy Bolt doesn't quite get at how important this all-electric vehicle could be for GM. We are entering a new phase for EVs in the US, and it's one where there will be more than one 200+ mile range electric model that will cost around $30,000-$35,000. The two obvious first entries are the Tesla Model 3 and the Bolt, but you can bet your Level 2 charger that Nissan will be joining the party as well, along with all sorts of as-yet-unannounced entries from other automakers. The main change that all of these longer-range EVs will bring is – potentially – to make plugging in your car a mainstream thing. And if the mainstream is in play, then there's money to be made, and you're going to need one heck of an EV to get people to pick your car instead of someone else's. So, yeah, the Chevy Bolt could be a big deal. And today we not only got a bit more information about the car but we also got to go on a really short test drive in a prototype version outside of the Las Vegas Convention Center as part of CES 2016. The "drive" took place in a closed-off parking lot and my two laps through the cone course took less than three minutes, but I can still say that it looks like GM will be bringing a solid option to the marketplace soon. Chevy Bolt Prototype front 3/4 View 16 Photos If you shift into L, the regen becomes wonderfully strong. One of the pleasant surprises in the Bolt prototype is the ability to drive with just one pedal. When in D, the Bolt coasts a bit, which is nice for highway driving, but if you shift into L, the regen becomes wonderfully strong. Strong enough that you don't need to engage the brakes at all if you're in standard city traffic, with lots of gentle stops and starts. If you want even more stopping power without getting the brakes involved, the Bolt also has the regen-on-demand feature that was introduced in the Cadillac ELR and works great in the second-gen Chevy Volt. When you pull the paddle on the left back side of the steering wheel, the electric motor instantly becomes a generator and the Bolt turns forward momentum into energy for the battery pack. It will even bring the car to a complete stop and then hold it when you release the paddle.