General Motors Co was set on Thursday to unveil its newly designed mid-engine 20...
TUSTIN, Calif. - General Motors Co was set on Thursday to unveil its newly designed mid-engine 2020 Corvette in a splashy tribute to its emblematic sports car, even as the No. 1 U.S. automaker faces mounting pressures in a sluggish and uncertain global sales environment.
The launch comes at a challenging time for GM, which along with other global carmakers faces slowing sales and new financial pressures related to global trade, electrification and unresolved emission standards. The Chevy Silverado full-size pickup truck, a perennial best-seller, ranks among GM’s most profitable vehicles.
Expected to cost far below the $113,000 starting price for the rear-engine Porsche 911, the Corvette’s price could attract a younger buyer lured in recent years to high performance vehicles from Tesla Inc and others. GM has teased the launch for months. In April, Corvette Chief Engineer Tadge Juechter and Chief Executive Officer Mary Barra drove a camouflaged C8 Corvette through New York’s Times Square during rush hour in a high-profile tease.
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