Here's what GM needs to do to make the new Corvette a success

Friday, 19 July 2019

Nearly seven decades after its debut, the Corvette is getting a dramatic makeover - the eighth generation of the quintessentially American sports car, referred to by enthusiasts as the C8, will be revealed later today as the 2020 Corvette Stingray.

Featured in hundreds of movies, such as Mark Hamill's 'Corvette Summer,' and numerous songs, such as Prince's 'Little Red Corvette,' the General Motors sports car is tightly woven into the fabric of American culture.

And at a starting price of less than US$56,000 (NZ$83,000), it's much more accessible than many of its exotic European competitors.Known for its affordability as well as its lightweight, high-powered, low-slung design, the Vette is ranked as the most collectible car of all time, according to classic-car insurer and valuation firm Hagerty.

GM boss Mary Barra recently took to the streets of New Your in a disguised prototype.

'The Corvette has existed in a category all its own as an American car,' said Hagerty CEO McKeel Hagerty. 'It's a pretty magical story through and through. It's very evident they're about to do it again.'

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The Corvette, a Chevrolet model assembled in Bowling Green, Kentucky, is getting one of its biggest changes yet: the engine is shifting from underneath the hood to the middle of the car, making it a mid-engine car much like some of Europe's speediest vehicles.

It's the vehicle's first total overhaul since GM resurrected the Stingray moniker for the seventh generation that debuted as a 2014 model.

To keep the flame alive, here's what GM needs to do with the 2020 Corvette Stingray:

Emphasise speed

The Corvette's change to a mid-engined layout has been a long time coming.

A Vette isn't a Vette without some serious zip, so expect the engine growl on the C8 to wake up your neighbours.

Karl Brauer, the executive publisher of car-information sites Kelley Blue Book and Autotrader, predicts a range of 340 to 375kW for the base model of the 2020 car.

But expect eye-popping numbers for the loaded editions, including a possible ZR1 supercar.

Rumours were flying earlier this year that GM had to delay the new Corvette because it was so powerful that its frame was warping in track tests. Industry observers have speculated that the high-flying version could achieve an astounding 745kW.

The extra-powerful edition is sounding like an 'unbelievable performer and fire-breathing monster,' Hagerty said.

Don't change TOO much

The 2020 Corvette will be officially revealed later today.

The shift to a mid-engine setup carries risks, considering that even the slightest changes for a vehicle with a rabid following can stir up angst. (When engineers abandoned the car's trademark round taillights in the 2014 redesign, critics loved it, but some fans were upset.)

To be sure, many Vette enthusiasts have been clamouring for such a mid-engine version for years. Even the GM engineer credited with transforming the car into a powerhouse, Zora Arkus-Duntov, is said to have proposed a mid-engine version since nearly the beginning.

Many fans are putting their trust in GM to get it right.

'I've never met a Corvette that I didn't love,' said Chris Mazzilli, owner of Dream Car Restorations on Long Island and co-founder of Corvette Heroes, which is conducting a sweepstakes to give away 36 Corvettes from the first 36 model years in a promotion with the National Guard Education Fund.

One widely rumoured change that might not sit well with fans: the elimination of the manual transmission.

Brauer said the stick shift is likely to go away for the Corvette, though he doubts it'll lead to many lost sales. After all, the stick shift is slowly dying.

The Corvette where it will be born - GM's production facility at Bowling Green, Kentucky.

Be careful about the price

The Corvette's appeal has long been predicated on price. You don't have to be a multimillionaire to get a new one.

'They've always tried to be at the cutting edge of technology at a reasonable price,' Mazzilli said.

Its starting price of US$55,900 (NZ$82,400) in 2019 is more than most of us can afford, to be sure, but it's still far below six-digit competitors like Aston Martin and Ferrari.

'It's represented great value over the years,' Hagerty said. 'Not bargain basement, but cutting-edge technology for a fraction of what the rest of the world has to offer.'

Yet GM is widely expected to increase the price for the 2020 edition. How much is too much?

Brauer said it's possible GM will go upscale with the new Vette under the assumption that the loyal fan base will stick around and that it should potentially prioritise lower-volume, higher-profit cars.

Appeal to younger buyers

Here's where GM has a big challenge with a vehicle that debuted in 1953: the Corvette's most loyal fans are typically baby boomers or older members of Generation X, according to Hagerty.

What can GM do to appeal to a younger crowd to ensure the Vette's longevity continues?

That's hard to say, though one step could be to offer a powertrain that incorporates batteries and electric motors.

Brauer said a plug-in hybrid electric version of the Corvette is a possibility.