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GM Finances and the C7

 
Old 07-03-2008, 10:19 AM
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Gearhead Jim
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Default GM Finances and the C7

Yesterday, GM stock closed below $10; once again there is talk of a future bankruptcy. Either way, they are obviously VERY short of money.
The latest information suggests that the C7 project is either on hold, or has been canceled completely so they can start with a clean sheet of paper at some time in the future.
Remembering similar times when the C3 and C4 stayed in production far longer than planned, I'm expecting that the C6 will stay in production at least another 7 years. Engines might become smaller with turbos, minor body changes, but still the same basic car. The only ways that would be likely to change are if the C7 turns out to be just a warmed-over C6, or if it turns out to be a re-badged Saturn Sky. Either of those could be a nice car, but not up to Corvette standards.
Other threads on this subject have turned into just GM/unions bashing, political commentary, or discussions about advanced technology that won't be ready for a Corvette for many years if ever. Keeping our discussion to just the next few years of the Corvette, what do you think?
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Old 07-03-2008, 10:26 AM
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EvanD
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It is difficult to make big changes fast. I think that little will change in the plans that were in place for a couple years. After that who knows, there's no such thing as a working crystal ball.

I do think you can make some comparisons back to the 70's gas crisis. That's one reason why I just orderd an 09. I remember how they de tuned everything. I don't drive much and travel for a living so the gas prices so far have been pretty much a non issue. About the only effect is I haven't done as many runs to the mountains this year but that may be because of the police crack down last year too....
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Old 07-03-2008, 10:34 AM
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I think production for the C6 will drop under 20k in the coming months. The Z06 may go away for awhile or not have a Z06 as we know it today.

I think there would be major outrage if the car was a rebadged Sky even with a V6 turbo. Ford pulled that crap in the 80's with the Probe and it backfired big time.

I think a 6.5 with 450hp and displacement on demand is the direction we will see in future C6's. Maybe a few body changes for front and rear bumpers. Also some interior changes like we saw on the C4's. A 10 year run would make a C7 in 2015. Gm will either recover or be gone by then.
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Old 07-03-2008, 10:35 AM
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I think that instead of a new C7, we'll see a restyled C6 soon. To keep the car desirable, they really need to do something to get the current owners to upgrade. Wheels, paint, and a few hp ain't gonna do it.
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Old 07-03-2008, 10:41 AM
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Originally Posted by Flareside View Post
I think that instead of a new C7, we'll see a restyled C6 soon. To keep the car desirable, they really need to do something to get the current owners to upgrade. Wheels, paint, and a few hp ain't gonna do it.
Especially those 2008-2009 wheels!
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Old 07-03-2008, 11:12 AM
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I don't know that Corvette was ever a real money maker for GM but it is important to them. Selling less helps their corporate fuel average which maybe important to them.
When I visited the factory I was somewhat surprised by how hand made these cars are and I would imagine it will stay that way since GM has no capital to upgrade a factory with such small volume.
I'm sure we'll see more tweaks rather than a new C7 for a while. For many people (less so for people on this forum) the C6 hasn't been out long enough for people to have payed out the financing (yes some people finance and some even don't get new until the old is paid off). So I'd think the existing C6 owners may not be ready for new yet. Personally, I love my DSOM so much I'd be reluctant until I find a color I like as much.
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Old 07-03-2008, 11:18 AM
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Throw me in the pile of selfish ones as I do not really care to speculate about the future as who knows where the economy is headed. I have my new (2008) Vette and I love it, if and when GM comes out with a new version I may purchase it, for now I am enjoying what I have and let others worry about what may be.
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Old 07-03-2008, 11:18 AM
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I just read that GM i shifting the Chevy Beat to the US rather than its intended foreign markets. That should help with CAFE standards and eventually with the stock.
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Old 07-03-2008, 11:24 AM
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Comeon turbos! Watch the warranty claims sky rocket!
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Old 07-03-2008, 11:27 AM
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Aside from interior revisions, exterior panel refreshing, paint and wheels etc; the C6 chassis is here to stay until at least 2015.

Given GM's financial woes, CAFE and the general state of the economy; there is no way in the world that GM is going to committ capital to the R&D, engineering and retooling of a completely revised new C7 chassis when the current C6 chassis is only 4 model years old.

It just isn't going to happen anytime soon.

The new Camaro will provide GM with a strong infusion of cash given that this new plaform will be available in a variety of engine platforms, have a backseat and will appeal to the masses.

The Corvette always has and always will be a niche car for GM. They won't repeat the mistakes of the past by introducing a detuned inferior product.

Rather than that; they will refresh what they have with the C6 and take a "wait see approach" and readdress the C7 platform later when circumstances dictate......IMHO.

The Corvette is part of GM's proud history and it is fool hardy to think for a moment that GM will ever voluntarily kill of the Corvette.
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Old 07-03-2008, 11:36 AM
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just keep on tweaking the c6....
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Old 07-03-2008, 11:43 AM
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Well, when I can't even get my fiancee to by american, she just bought a new acura, I doubt GM will ever recover. We stopped at lexus first, and we had to wait 20 minutes for a saleman. We had an appointment at the acura dealer, as she basically already had the deal done and the place was packed.

I walked over to the chevy dealer next door, I wanted to look at the jetstream blue up close, I was the only non-saleman there, on the other side was BMW, nobody there either, the other side of chevy was honda, they also were packed.

I'll continue to buy GM as long as they stay in business, or until they are bought out by the japs. After that, I'll buy german.
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Old 07-03-2008, 11:45 AM
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Wayne O
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I think it's safe to assume the release of the C7 will be delayed.

Certainly times are tough for the auto industry but America needs to protect its industrial base (even as a matter of National security). Do you think Ford and Chrysler are faring much better than GM? The United States cannot afford to lose its automobile industry for a many reasons.

GM stock at $10 a share! There's a risk and it will be a long term hold but what a buying opportunity!

Buy American!
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Old 07-03-2008, 11:51 AM
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I've had my C6 Z06 since april - and love it. While the future of the Z06 interests me... I'm more than happy with what I have now.

The corvette will always be around though -- guaranteed. I'm extra glad I bought one now because if huge displacement engines like ours go the way of the dodo... hey i have something special then

Displacement on demand, direct injection, and ultralightweight materials are where it needs to go and still be "fun".
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Old 07-03-2008, 11:52 AM
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Let's be honest, the C6 is just a tarted up C5. If anyone dissagrees with me, just look at all of the basic components of the car and prove me wrong.

What this means is that the car is actually probably a lot cheaper to produce than we might think. I can see continued evolution of the current platform with another "tarting up". They can probably maintain current levels of performance with significant gains in economy by going to direct injection and DOD.

No question that we are in some difficult times, but I really think the Corvette can soldier on in a similar state that its currently in. I think they can continue to tweak the interior and exterior styling, add features like a killer surround sound stereo, cooled seats etc and keep selling in numbers that will allow it to continue as a profitable business model. The numbers may go down for a few years, but that has happened before.

Honestly, I will very likely continue to buy a new one every two or three years even if it does continue on as I've described above.
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Old 07-03-2008, 12:01 PM
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Originally Posted by jschindler View Post
Let's be honest, the C6 is just a tarted up C5. If anyone dissagrees with me, just look at all of the basic components of the car and prove me wrong.

What this means is that the car is actually probably a lot cheaper to produce than we might think. I can see continued evolution of the current platform with another "tarting up". They can probably maintain current levels of performance with significant gains in economy by going to direct injection and DOD.

No question that we are in some difficult times, but I really think the Corvette can soldier on in a similar state that its currently in. I think they can continue to tweak the interior and exterior styling, add features like a killer surround sound stereo, cooled seats etc and keep selling in numbers that will allow it to continue as a profitable business model. The numbers may go down for a few years, but that has happened before.

Honestly, I will very likely continue to buy a new one every two or three years even if it does continue on as I've described above.
GM has all the neat stuff already bought and paid for from the XLR.

It wouldn't take too much to tweak the current C6 and allow it to be a world class sports car for years. Personally I would rather they get this generation "right" than to spend any more $$$ on the next generation and still have an unfinished product. There is no excuse for some of the omissions 09 Corvette buyers have to endure.
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Old 07-03-2008, 12:01 PM
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Originally Posted by jschindler View Post
Let's be honest, the C6 is just a tarted up C5. If anyone dissagrees with me, just look at all of the basic components of the car and prove me wrong.
I was kind of thinking the samething. Some were calling the C6 a C5.5 back when they came out.

That means if the C7 is just a refinement of the C6 then the basic design will be going back to '97. Wow.
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Old 07-03-2008, 12:01 PM
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Originally Posted by red06c6hm View Post
Well, when I can't even get my fiancee to by american, she just bought a new acura, I doubt GM will ever recover. We stopped at lexus first, and we had to wait 20 minutes for a saleman. We had an appointment at the acura dealer, as she basically already had the deal done and the place was packed.

I walked over to the chevy dealer next door, I wanted to look at the jetstream blue up close, I was the only non-saleman there, on the other side was BMW, nobody there either, the other side of chevy was honda, they also were packed.

I'll continue to buy GM as long as they stay in business, or until they are bought out by the japs. After that, I'll buy german.
Interesting thoughts, but I really do think the Americans are making good progress. The timing just isn't very good. My previous three daily drivers have been a M45 Infinti, Acura TL and G35 Infiniti. I've owned LOTs foreign cars. But my Current daily driver is a Cadillac CTS.
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Old 07-03-2008, 12:10 PM
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GM's dealers keep paying less and less for trade-in cars, therefore they are essetially worthless after driving off the lot...people aren't stupid and don't want to pay full price for a car that isn't worth anything when they try to trade it in. Yes, Corvettes are worth more, but we're talking GM overall with all of its models as an average. People are staying away from GM in favor of cars with a better resale value. GM itself as a corporate entity isn't the best around either. When they bought the company I use to work for and in a way, still do, they ripped off $1B from our pension plan and gave it away to their stockholders, then they broke up the company and sold off most of the pieces for a seriously huge profit. If they had kept this company intact and kept ownership, they would be rolling in the $ right now.
What's going to happen to our cars? Who knows...but aftermarket parts will be around forever which is one of the nice things.
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Old 07-03-2008, 12:16 PM
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I think GM will pull out of it fine. It will just take some time. The C7 will be delayed though, so they will have to do some tweaking to the C6.
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