GM Bankruptcy and Corvette

GM Bankruptcy and Corvette

August 8, 2018 0 By Laura
It has been ten years since The Great Recession that almost ended GM and the Corvette. But it turns out when GM filed for bankruptcy, it saved the company and the Corvette.

In early 2008, GM was buckling down, looking at ways to save money. One of the decisions was to cancel the development of a new C7-generation Corvette, despite the best efforts of then-GM product-chief Bob Lutz. These cost cutting efforts did not work and in 2009 GM declared bankruptcy.

In 2009 Tadge Juechter, chief engineer of the Corvette, prepared to do his best to save the Corvette, and the Bowling Green, Kentucky plant. To do this, he had to convince bankruptcy courts and U.S. Treasury Department that the Corvette was worth saving. To his, and the Corvette team, it turned out that the government team knew something about the Corvette and asked about the plans for the new C7. The government team knew how to count beans and saw that the Corvette made money for GM. But it was more than just the money, it was also that the Corvette was an extremely valuable brand that is known globally.

In the end, the government team decided that the C7 had to be added to the to-do list coming out of bankruptcy. So, we owe the government for giving us the best Corvette to date.


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Discounted Parts Table Items
Pictures Available Upon Request.

1956 – 1960 Corvette Hardtop – Black. Price: $5,995 $4,888

1967 Corvette Red Line Tires. 7.75 x 15 Firestone Deluxe Champion Red Line Tires. Complete set of 4. For judging purposes only. Price: $995 $685

1991 ZR-1 Owner’s Kit – Complete and like new. Price: $650 $375. Two sets available at this price.

1957 Corvette Fuel Injection Unit – taken off of a ’57 Corvette engine, completely rebuilt and is ready to use. Price $6,950 OBO (make us an offer).

1968-1969 L88 Holley 4bbl carburetor – Completely rebuilt (by Jerry Luck) and ready to
install.  3925519 R4054A 861. Price: $4,500 $3,500.

Coming Soon!

1963 360hp Fuelie, Triple Crown Award Winner

1968 Convertible Race Car

Complete, frame off nut and bolt restoration just completed in May of 2018. The car comes with extensive racing history.

It started life as a factory 427 big block and hit the track in the mid ’70’s after Randy Bryan turned it into a B Production race car, He then campaigned it in SCCA Reginal events throughout CA. Shortly afterward, the car was fitted with a Greenwood body kit and was run in the GTO Class at a number of IMSA races.

Keith Black built, ZL1 based aluminum 427 big block engine with aluminum L88 heads, Muncie M22 “Rock Crusher” 4-spd. manual transmission, Full racing gauges, Racing seat, Hurst Airheart 4-wheel disc brakes, Roll Cage, L88 fender Flares, L88 hood, Daytona headlights, Extensive SCCA and IMSA racing history with log books starting in the mid ‘70’s, Photos of the car “back in the day” in race trim and photos of the recent restoration.

Stock #: 6054 – Price: $129,900 $125,000


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