Did GM just unveil the best sports car ever?
The automaker goes a long way toward losing its 'Government Motors' nickname with the release of the 2014 Corvette Stingray.
Those are big words for the 2014 Corvette Stingray, but if the public is as enamored with the flashy speedster as the media is, it could become the car that finally buries the "Government Motors" era.
Even Consumer Reports says the car is "stunning," calling it the best Corvette ever and praising its sleek, modern appearance.
It's been a long time since America had a new sports car to rave about, which is a shame given our storied history with hot-rodding muscle cars. GM is trying to fill that void while adding a modern twist: improved gas mileage. The Corvette trades steel for aluminum and uses super-light rivets, according to the Associated Press. The V-8 engine drops to four cylinders at highway speeds for more fuel efficiency.
GM isn't saying what the mileage rating will be, but executives hinted that 30 miles per gallon on the highway is conceivable.
The first all-new Corvette in nine years will be available this fall. GM isn't giving a price yet, but it sounds like the price won't be too far from current Corvette models.
"To many fans, the new Corvette symbolizes the rebirth of America's auto industry after its near death in 2009, showing the world that it again can lead in technology, styling and performance -- at a lower cost that European competitors," writes the AP.
The Stingray almost didn't make it out of the idea phase as financial problems pushed GM into bankruptcy in 2008, NBC reports. And Corvette production plunged from more than 40,000 in 2007 to less than 12,000 last year, reports The Los Angeles Times. Part of that was due to the economic slowdown, but part was simply because auto buyers lost enthusiasm about the Corvette.
The project's delay during that time turned out to be a good thing, giving designers more time to perfect the design. The car was code-named the "C7" before getting the Stingray name.
"If initial reactions are any indication, the C7 could be the vehicle Chevy and GM desperately have needed, a sports car that truly pushes the proverbial envelope and threatens to leave even the most vaunted European competitors worrying when they see one racing up in their rear-view mirrors," writes NBC's Paul Eisenstein.
More on Money Now
This rare happening has special meaning.
One involves a meaningless ritual in which we look to an insignificant creature of little intelligence for insight into the future.
The other involves a groundhog....
Very different from the C6 may take some getting used to.
Guess I'll keep my C4 (it's paid for)
This is just MSN, Obama's personal propaganda specialist, pushing Government Motors new venture. The "Best Sports car ever?", NOT.
GM has been tweeking the C5 platform for almost twenty years now and still hasn't come up with an all-wheel-drive car to compete with the Nissan GTR.
Copyright © 2013 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] The major averages finished the session on a lower note as the S&P 500 lost 0.4% while the Nasdaq shed 0.1%. The Russell 2000, which paced the retreat on Tuesday and Wednesday, added 0.2%, trimming its December loss to 3.5%.
After spending the first half of the session in a steady retreat, the S&P 500 found technical support in the 1772 area. Upon reaching that level, the index reversed sharply, and marched back to its flat line. There was no particular catalyst ... More
More Market News
With the universe of this category in its seasonal sweet spot, these picks have tailwinds propelling them into the new year.