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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.

Porsche 911 tops a list of must-have classics, but No. 2 is more of a surprise

No surprise here: In Europe, the Porsche 911 is the most sought-after classic car. Surprise here: Slip-streaming the 911 in the most sought-after chart compiled by the Car & Classic marketplace is the Ford Mustang. Using the Google search engine as a means to pick the winners, as well as the average prices achieved on the “Car and Classic” website, the venerable 911 was tagged 1.45 million times per month according to data stretching back 15 years. The number of 911Â’s sold though the C&C marketplace was 21,141, at an average price of 58,409 pounds, or $74,300. FordÂ’s pony car, still a popular choice for buyers in Europe, placed second on the list with 1.2 million monthly searches. The average sales price over 15 years was 31,107 pounds ($39,570), and the number of older Mustangs sold reached a total of 8,332. Models that also finished among the charted top 10 include the Land Rover Range Rover, the Corvette, the ultra-classic British favorite Jaguar E-Type and the BMW 3 Series. “Whilst a 1973 Porsche 911 Carrera 2.7 RS could set you back the best part of GBP500,000 ($636,000), there are many more affordable models, which bring the average sale price of a 911 on Car & Classic to GBP58,000 ($73,800) – the third highest average selling price of any make and model on the site,” explained Dale Vinten of Car & Classic. According to the site, the Jaguar fetched the highest average selling price: a whopping 89,000 pounds, or $113,000. But thatÂ’s peanuts compared to a Series 1 Roadster in excellent condition, said Vinten. For that, “you can expect to spend up to GBP250,000 ($318,000), A Series 2 or 3 will cost less, as they are not as desirable, but in decent condition you can expect to pay around GBP40,000-GBP50,000. Even a barn find 1969 E-Type Series 2 Roadster can set you back to the tune of GBP33,000 ($42,000)." Launched in 2005, Car & Classic is among EuropeÂ’s most popular classic car clearinghouses. It also runs a stand-alone auction site.

GM will stop reporting monthly U.S. vehicle sales

DETROIT — General Motors said on Tuesday it will stop reporting monthly U.S. vehicle sales, saying the 30-day snapshot does not accurately reflect the market, and will instead issue quarterly sales. GM will also no longer report monthly sales in China, its largest market, and Brazil. GM will provide monthly data to the U.S. Federal Reserve, industry associations and government agencies across the globe, but that data is not made public. Analysts and investors rely on monthly U.S. vehicle sales not just to track the performance of individual automakers, but as a barometer of the health of the world's second-largest auto market and as an indicator of consumer confidence in the U.S. economy overall. GM and its Detroit rivals Ford and Fiat Chrysler have relied heavily on sales of high-margin pickup truck and SUV sales to boost profits. GM's total U.S. sales, its second-largest market, are down 3.2 percent for the first two months of 2018, reflecting a 6.8 percent drop in retail sales to individual customers, the company reported last month. GM executives have expressed frustration that comparisons of monthly U.S. sales results among rival automakers are distorted by short-term discount programs, and by differences in strategy for selling vehicles in bulk to rental car fleets. "Thirty days is not enough time to separate real sales trends from short-term fluctuations in a very dynamic, highly competitive market," Kurt McNeil, U.S. vice president for sales operations said in a statement. GM's actions could prompt other automakers to also switch to quarterly U.S. sales reports. Major automakers will report March U.S. new vehicle sales on Tuesday. Until the early 1990s, most U.S. automakers released sales results every 10 days. The former Chrysler Corp. stopped reporting sales on a 10-day basis in 1990, and rivals followed suit over the next three years. GM executives are betting that investors will quickly adapt to receiving U.S. sales data every three months, as investors in other retail sectors already have. Retailers such as Walmart report sales on a quarterly basis. Reporting by Joe WhiteRelated Video: Image Credit: Reuters Earnings/Financials Green Buick Cadillac Chevrolet GM GMC US