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Enthusiasts How GM’s Bankruptcy Saved the Corvette

18:03  06 july  2018
18:03  06 july  2018 Source:   roadandtrack.com

Mid-Engined Chevy Corvette Spied Waiting At A Red Light

  Mid-Engined Chevy Corvette Spied Waiting At A Red Light Just another prototype caught in the wild. For as much as Chevy is keeping quiet about the mid-engined C8 Corvette to the public, it’s hard to deny the car is coming when we’ve spotted countless test mules out on the road. The automaker even gave dealers a brief peek of the car last month. This video is further proof development is ongoing, though we’re uncertain when plans to reveal it. When Chevy gave dealers a peek, the user who dished all the details about what little he saw. He noted the Lotus-like hood and ZR1-like front bumper cover. That’s all he really said because that’s all he saw.

In 2008, GM cancelled the Corvette in an effort to save money. But the automaker's 2009 bankruptcy actually helped launch the C7, the best Corvette ever.: How GM’s Bankruptcy Saved the Corvette© DW Burnett/Puppyknuckles How GM’s Bankruptcy Saved the Corvette

It's hard to imagine a world without the Chevrolet Corvette, but that almost became a reality as a result of the 2008 financial crisis. In early 2008, GM was buckling down, looking at ways to save money. As Car and Driver explains in this excellent story, development of a new C7-generation Corvette was cancelled at this time, despite the best efforts of then-GM product-chief Bob Lutz. But when GM declared bankruptcy in 2009, the Corvette was saved.

Video: 2020 Chevy Corvette C8 Testing at Racetrack (provided by Autoblog)

Tadge Juechter, chief engineer of the Corvette, told Car and Driverabout a conversation, after GM declared bankruptcy in 2009, that eventually led to the green light for the C7 Corvette program. As Car and Driver's Gary Witzenburg writes:

Mid-Engined Corvette Caught On Video Again, This Time With A ZR1

  Mid-Engined Corvette Caught On Video Again, This Time With A ZR1 Chevy continues to tease us while testing its newest sports car. The mid-engined Corvette is coming – eventually. We've seen spy photos of the supercar as early as 2016, but new footage leads us to believe that it could arrive in only a few months. The latest prototypes, captured on camera in Colorado, show the upcoming Corvette testing alongside it current ZR1 sibling.<br _moz_dirty="" />The video, uncovered by CorvetteBlogger, shows two heavily camouflaged prototypes on public roads in Leadville, Colorado.

Participating in a conference call one day with the "task force" put together by the U.S. Treasury Department to consolidate GM manufacturing operations, Juechter was planning to advocate passionately for Corvette and its small, special plant: "We went around the room introducing ourselves, and when I introduced myself as Corvette chief engineer, one consultant said, 'What can you tell me about C7'-the same question we were getting from our customers. I thought, 'Wow, this guy knows the lingo and wants to know about C7. He may get it.' They got into our books and saw that Corvette made money, so getting going on a new one was on the to-do list coming out of bankruptcy. It was spared as an extremely valuable brand that is known globally, and the Bowling Green assembly plant was also spared."

Up to this point, Juechter had been preparing for the worst, afraid that the Corvette brand and the Bowling Green, Kentucky plant would be sold for scrap. But with the approval of the Treasury Department, work on the C7 began, and Juechter and his team to go work building the best Corvette ever.

For more amazing, unknown Corvette stories-like how Chevrolet executives secretly borrowed money from other projects to make the C5 Corvette a reality-head over to Car and Driver.

Read more about the Corvette on MSN Autos

1965 Corvette Found Near its Home .
The sense of awe that accompanies discovering an old Corvette stored or lost for many years can be intoxicating. Kris Smith wasn't looking for an old Corvette when his son Justin came home from college with a story that a buddy told him about a 1965 coupe parked since 1973. Kris said the Corvette was 7-8 miles from their home in rural Indiana, with amazement in his voice. He had to have a look. "Justin got hold of his buddy and we went over there. This elderly couple that lived out on a farm had died and their brother/brother-in-law Jack had stored the car on the farm. Jack, who bought the car in the late '60s, was losing his storage and was now retired.

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