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Fewer than 1 in 3 Chevy dealers earn right to initially sell C7 Corvette

Looking to make the launch of the 2014 Corvette Stingray as efficient as possible, Chevrolet will be limiting the numbers of its dealers that can sell the all-new coupe and convertible. According to Automotive News, sales of the C7 Corvette will initially be limited to less than a third of Chevy's total dealership network when the 'Vette goes on sale this summer.
Only 900 dealers out of more than 3,000 locations nationwide will be allowed to sell the new Corvette at first, and the reason for this is so that there are no shortages at dealers that can actually get the cars sold. The article says that the 900 dealerships chosen represented 80 percent of total Corvette sales in 2012.
Some of the requirements dealers had to make to get initial allocation of Stingray sales include having sold at least four Corvettes in 2012 and having a Corvette Stingray specialist who will be required to have gone through a training session costing more than $2,000 per attendee. Once demand for the 2014 Corvette Stingray begins to subside - approximately six to nine months after it goes on sale - then allocation could open up to more dealers, but the report indicates this could happen following the 2014 model year.

Reuss says GM diesel plans are still on pace

General Motors is not going to let Volkswagen's diesel emissions scandal ruin its plans for a new line of efficient, torquey oil-burners, the company's Executive Vice President Mark Reuss said at a recent press event. "No way," Reuss responded when asked about cancelling the upcoming diesel-powered Chevrolet Cruze and other vehicles. "The Cruze Diesel is too good not to do it." Slated for 2017, the compact is just the latest member of a diesel offensive that initially kicked off with the first Cruze Diesel and most recently saw the introduction of the oil-burning Chevy Colorado and GMC Canyon. Reuss also reassured those in attendance that there was "no delay" in development of Cadillac's diesel lineup. Cadillac is working on a line of four- and six-cylinder turbodiesels for Europe. They'd make their way into the US market, too, eventually. "It's a question of timing," Reuss said, according to Car and Driver. Volkswagen's diesel emissions scandal has caused automakers across the globe to at least reanalyze their diesel strategy. Jaguar Land Rover, which is preparing several diesel-powered models for the US market, went on record late last month to reaffirm its commitment to diesel. Related Video: Featured Gallery 2014 Chevrolet Cruze Turbo Diesel: Quick Spin View 14 Photos News Source: Car and DriverImage Credit: Copyright 2015 Seyth Miersma / AOL Green Cadillac Chevrolet GM Diesel Vehicles

Frustrated GM investors ask what more Mary Barra can do

DETROIT — General Motors Co Chief Executive Mary Barra has transformed the No. 1 U.S. automaker in her almost five years in charge, but that is still not enough to satisfy investors. Ahead of third-quarter results due on Oct. 31, GM shares are trading about 6 percent below the $33 per share price at which they launched in 2010 in a post-bankruptcy initial public offering. The Detroit carmaker's stock is down 22 percent since Barra took over in January 2014. After hitting an all-time high of $46.48 on Oct. 24, 2017, the shares have declined 33 percent. In the same period, the Standard & Poor's 500 index has climbed 7.8 percent. Several shareholders contacted by Reuters said GM could face a third major action by activist shareholders in less than four years if the share price does not improve. "I've been expecting it," said John Levin, chairman of Levin Capital Strategies. "It just seems a tempting morsel to somebody." Levin's firm owns more than seven million GM shares. Barra has guided the company through the settlement of a federal criminal probe of a mishandled safety recall, sold off money-losing European operations, and returned $25 billion to shareholders through dividends and stock buybacks from 2012 through 2017. GM declined to comment for this story, but the company's executives privately express frustration with the market's reluctance to see it as anything more than a manufacturer tied mainly to auto market sales cycles. GM's profitable North American truck and SUV business and its money-making China operations are valued at just $14 billion, excluding the value of GM's stake in its $14.6 billion Cruise automated vehicle business and its cash reserves from its $44 billion market capitalization. The recent slump in the Chinese market, GM's largest, and plateauing U.S. demand are ratcheting up the pressure. GM is one of the few global automakers without a founding family or a government to serve as a bulwark against corporate raiders. In 2015, a group led by investor Harry Wilson pressed GM to launch a $5 billion share buyback, and commit to what is now an $18 billion ceiling on the level of cash the company would hold. In 2017, GM fended off a call by hedge fund manager David Einhorn to split its common stock shares into two classes. Einhorn, whose firm still owned more than 21 million shares at the end of June, declined to comment about GM's stock price. Other investors said there were no clear alternatives to Barra's approach.