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Old 10-07-2008, 10:32 PM   #1
HeilSvenska
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Default ZR1 isn't cancelled.

I call total BS on it. Or is it?!

http://www.digitalcorvettes.com/foru...84#post1244584

FACTS
1. ZR1 production has come to a halt, despite orders to fill.
2. No known production issues that warrant a production stop.
3. ZR1 orders in the system that had build weeks just a few days ago are now showing nothing.
4. There is no official word from GM yet. Key word, 'official'. But, there is 'word' and we are hearing it.
5. GM "needs cash" (article)

INFO COMING IN
1. Rumors of production stop last week.
2. The ZR1 model itself may be on the chopping block, or has already been cancelled.
3. Major changes coming for Corvette production.
ZR1 website is also down. Or is it?
www.Chevrolet.com/CorvetteZR1

This one works.
http://www.chevrolet.com/corvette/#corvette-zr1
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Old 10-07-2008, 10:56 PM   #2
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If it is killed then GM deserves to dry up and rot - thi scar is selling, and selling well.

GM only ever build Covettes that are special ordered and already sold.. as in they are all bought and paid for by dealers (now dealers may not have all their Corvettes sold before they buy them from GM) - but maybe the needed opperating cash to keep the producion lines rolling is dried up from GM's perspective.

I am willing to bet that the numbers of buyers in the C6/C6 Z)6 arena is drying up, as those cars are bought by middle class folks - the ones who are about the take it up the arse for the economic issues - while the ZR1's are being bought buy the cash flush wealthy folks.

If the ZR1 is stopped, it would not be the first time GM has done something stupid when under pressure.
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Old 10-08-2008, 12:04 AM   #3
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http://www.autoblog.com/2008/10/07/g...umor-not-true/
The rumormill is a funny thing, and sometimes it can run amok. This appears to be one of those times. The DigitalCorvettes.com forum posted a note earlier this evening saying that Corvette ZR1 production has been halted (Bowling Green is shut down this week, so no Vettes are being built at the moment) and suggesting that the ZR1 may be cancelled. A post on dealer Rick "Corvette" Conti's blog, linked in the referenced DigitalCorvettes thread, added to the intrigue.

Autoblog has contacted GM's Terry Rhadigan, who handles global communications for the Chevrolet brand. We presented the DigitalCorvettes link and asked for an official response. His was very clear:

"Not true."
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Old 10-08-2008, 12:12 AM   #4
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I do believe Enron was a "sure thing" right up until the end hehe
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Old 10-08-2008, 01:27 AM   #5
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"Not true." I love the ZR1
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Old 10-08-2008, 08:24 AM   #6
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Only time will tell
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Old 10-08-2008, 12:48 PM   #7
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I went to Corvette Forum and found this post late in discussions on the end of the ZR1

"I spoke to a person in Bowling Green today who was in a meeting that stated all "ZR1 production is on hold indefinitely". They told me that "this is not what you want to hear but is true". They also told me that this will "hurt them as much as it does us (the dealership)". I have received valuable information from my friend over the years and they have never lead me astray.

All I know is, something is up. We (EVS) submitted a ZR1 order three weeks ago (we had an available allocation) and have submitted many coupe/Z06 orders since. Everything has a TPW (target production week) except for the ZR1. I have a friend at another Chevy store who ordered a ZR1 the week before mine. Their car was given a TPW weeks ago and today, it was taken away. Today, I have heard of other dealers who have had this happen, lose the TPW. I am sure we will have an official response soon.

Greg Sanders
EVS Chevrolet "

There has not been a lot of talk about what has been going on out in the economic world on this forum recently, however, it is some of the wierdest shite I certainly have ever seen in my life.

Putin is keeping Iceland from bankrupsy, can you say little Cuba. (smart chess move by the way on Putins part, he seems to be good at that)

AIG, Fanny Mae, WaMu, etc. everyday it is something new. Bush is throwing money as fast as he can at everything like he is a liberal big D Democrat and nothing is slowing it down.

GM's stock hit like 9 yesterday (recent high of 40), they have a big exposure to the credit markets from their GMAC credit arm which they wisely sold a while back, but they unwisely are still on the hook for some of the losses.

Typical of GM thinking would be to stop the ZR1 to save money.

With only 250 of the cars produced this may be one of the great future collectibles.
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Old 10-08-2008, 12:56 PM   #8
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Default GM PR: ZR1 not cancelled, but Corvette production is in hiatus

^ZR1 cancellation was just a rumor, according to GM public relations.

The entire Corvette production is in a hiatus while they restructure things. Meaning cutting extraneous spendings and laying off employees...
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Old 10-08-2008, 04:00 PM   #9
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Originally Posted by Adam Boca View Post
This is directly from GM, sent to me in an email...
"Rumors of a halt to production and/or the cancellation of the ZR1 are flying all over the internet and are now being addressed by the Chevy team.
In some cases, sites are citing that the information is coming from a source at Bowling Green Assembly. There are no such plans for the ZR1. In fact, even with the derate, the production of the ZR1 will not even be decreased."
That's all we had to wait for, was one fo the Bowling Green staffers to respond with the official answer today
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Old 10-08-2008, 04:22 PM   #10
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Something is up as the chevy dealer in my post above sounds pretty sure of himself.

Oh and GM hit 7 today. Ford is at 2.5 thats just a couple of ticks from the b word. GM has dropped 50% in just a couple of weeks. Its pretty serious.
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Old 10-08-2008, 04:46 PM   #11
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^It could be just the dealer trying to increase price (and demand) by falsely implying a supply limit, although I can't imagine any legitimate dealer doing that.
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Old 10-08-2008, 05:30 PM   #12
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Originally Posted by philip View Post
Something is up as the chevy dealer in my post above sounds pretty sure of himself.

Oh and GM hit 7 today. Ford is at 2.5 thats just a couple of ticks from the b word. GM has dropped 50% in just a couple of weeks. Its pretty serious.
Maybe its a dream opportunity to buy GM at $1.50 and then when ones holdings climb to $23.45 a share get out and buy a ZR1 hehe

Or - be left holding worthless paper as GM is delisted when if dropes to 41c
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Old 10-08-2008, 07:15 PM   #13
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In the interest of equal rumor mongering here is the latest post from a different Chevy dealer.

"Well, that's interesting because it's the exact opposite of the information I have.

Obviously, the production was shut down this week because the factory was closed. The information I have is that not only will they building ZR1s when the factory opens next week, but they plan on doubling their production for that one week so they can make up for loss numbers during this weeks shutdown.

Not seeing a TPW is completely normal. They did the same thing to the Z06s when they came out. The cars are assigned a TPW and then suddenly its gone from the status report. They do this so as not to get people mad or nervous if there's a delay during the early production.

I'm not saying that my info is accurate or that someone else's isn't, I'm just pointing out what I know. In this case, I hope I'm right!

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RC will know who Kerbeck Corvette is, but many of our international members may only remember "Corvette Vicki" needless to say, they are heavy hitters.

But at the moment untill things settle down, my opinion is that this economy will hurt limited production performance cars a great deal. The companys that build cars will not have the extra money to spend on developing these cars and may be concerned there will be no one to buy them.


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Old 10-09-2008, 04:55 PM   #14
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Originally Posted by philip View Post
Something is up as the chevy dealer in my post above sounds pretty sure of himself.

Oh and GM hit 7 today. Ford is at 2.5 thats just a couple of ticks from the b word. GM has dropped 50% in just a couple of weeks. Its pretty serious.
It really dropped today. I think I might own 200 shares of GM now if I got assigned on the 2 $7.50 puts that I shorted. (can't check at school)

The stock price doesn't reflect the shape of the company, but rather public perception, and in this case, shareholder fear. They're still in a tight spot, but not even Ford is about to suddenly go under.
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Old 10-09-2008, 05:18 PM   #15
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GM was down almost 30% today to 4.76 and Ford was down 20% to 2.08.

These companies per the newspapers have a 25 billion line of credit from the federal government to draw on. I dont know what the terms are but I assume it is similar to AIG where the stockholders are diluted if it is used.

At this point it will be remarkable if the shareholders are not completely wiped out in the next few days. Both companies will continue, but under I suspect under new ownership ie: bond holders and the US Government.

One comentator mentioned that GM wasn't in the car business anymore but in the healthcare industry. He I believe was referring to the thousands of retired GM workers that the company must support per their contracts with the unions.

That support will end if they file for bankrupsy and then the US Government will fund the health plans.

For good or bad the US in the last few months has moved much closer to becoming France.

Today the press was very critical of AIG's plans to have a fancy sales meeting at a Ritz Carlton in Half Moon Bay California. It was cancelled.

There was an article yesterday saying it wasnt appropriate to be seen in a Lamborgini anymore. I fear the faster expensive cars we continue to see coming out will stop.

We may look at this year and think of it as the end of the golden age of sports cars.

Or not.
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