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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.

Submit your questions for Autoblog Podcast #313 LIVE!

We record Autoblog Podcast #313 tonight, and you can drop us your questions and comments regarding the rest of the week's news via our Q&A module below. Subscribe to the Autoblog Podcast in iTunes if you haven't already done so, and if you want to take it all in live, tune in to our UStream (audio only) channel at 10:00 PM Eastern tonight.
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Chevy Cruze gets first official tease

The Cruze has been a runaway success for Chevy. In fact the company has sold over 3.5 million of them since its introduction in 2008. And now the company is preparing to roll out the all-new second-generation model, previewed in the teaser image above. Set to be unveiled on June 24, the 2016 Cruze promises to be larger, yet lighter, that the model it replaces. It will pack new engines, safety features, and technologies – including the integration of Android Auto and Apple CarPlay. The new Cruze will be based on the same platform that underpins the new Volt and (among others) the new Opel Astra just introduced in Europe. It'll be a vital model for Chevy, which sells the Cruze in 115 countries around the world – chief among them China, Brazil, Canada, and these United States, where sales continue to rise despite the model's age and impending replacement. Look for the second-gen Cruze to hit dealers early next year, joining a revitalized Chevy lineup alongside such notables as the new Spark, Malibu, and Camaro. Cruze Control: Success Paves Way for Next Generation Chevrolet's best-selling global car surpasses 3.5 million sales 2015-06-03 DETROIT – Chevrolet Cruze, the brand's best-selling car around the world, has surpassed 3.5 million global sales, a milestone that comes as Chevrolet prepares to introduce the next-generation Cruze on June 24. "When we introduced the Cruze it replaced 15 other compact vehicles around the globe," said Alan Batey, president, General Motors North America and global Chevrolet brand chief. "By consolidating design, engineering and marketing efforts, we were able to produce an award-winning, value-driven sedan that won over customers around the world." Cruze is sold in 115 countries. The top global markets include China, the United States, Brazil and Canada. In the United States, Cruze total sales were 273,060 in 2014 – a 10 percent increase over 2013. It is also the segment's second-best seller to customers under 25 in the U.S. Importantly, Cruze brings new buyers to Chevrolet – 35 percent of all buyers are new to the brand. Additionally, of those who trade in a Cruze, 56 percent stay with Chevrolet and 23 percent trade in for another Cruze. "In every corner of the globe, Cruze has been successful at introducing new and younger customers to Chevrolet," said Batey.