GM Defies Shrinking Sports-Car Market With Sub-$60,000 Corvette
- Six-decade-old model line gets overhauled for the modern era
- New car risks turning off purists in pursuit of younger buyers
General Motors Co. is bucking convention by boosting production of its new Corvette even as the sports-car market shrinks.
Demand for hot rods has shrunk to 2.3% of the U.S. vehicle market, about half what it was a decade ago, according to Edmunds. And GM’s new car, with a starting price of under $60,000, won’t be much cheaper than the existing Corvette. Despite that, GM is adding 400 employees and a second shift at its plant making the model in Bowling Green, Kentucky.