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Why the Corvette is Chevrolet's billion-dollar baby

Edmunds has worked up a piece that tries to figure out just how much the global Chevrolet Corvette economy is worth, a spitballed guesstimate putting the number at more than $2.5 billion with the proviso that the number is probably low. It starts by taking Corvette's new car sales of 14,132 units last year, which would equate to $714,725,900 (including destination) assuming ever car sold was a base coupe with no options. In the final tally, a little extra padding gets that number up to $750,000,000.
But that's not all. Consider this: Many of the almost 1.4 million Corvettes produced over the model's history are still on the road. There are new parts being produced and aftermarket companies like Mid-America Motorworks deaing business, that single Illinois company doing more than $40 million a year in sales. There are the Corvette events large and small, restorers who do nothing but Corvettes, salvage yards that deal only in used Corvette parts and the Corvette magazines where owners find all this stuff.
And then there are the Corvette-themed tchotchkes, every single one of which provides a tiny contribution to the huge licensing royalties that General Motors collects every year. The article admits there's no way to come to an accurate number, but it just goes to show how valuable one specific model can be to a company.

Weekly Recap: GM plans massive new paint shop at Chevy Corvette factory

General Motors is laying out some serious green to maintain the Chevy Corvette's expansive color palette. The automaker is breaking ground on a new paint shop this summer that's part of a $439-million investment to upgrade the 34-year-old Bowling Green, KY, factory that builds the Stingray. The massive new structure will total 450,000 square feet, nearly half the size of the current 1-million square-foot facility. Construction is expected to take two years and won't impact Corvette production. The upgrades include new robots that save paint and create a better finish, longer, more efficient ovens to bake in the finish, and LED lighting. There's also a dry scrubbing booth technology with a limestone handling system that eliminates waste. GM has invested $135 million in the factory in last four years for the changeover to build the C7 and to relocate its Performance Build Center to Bowling Green. The improvements continue to modernize the Kentucky factory, which has become a tourist attraction in its own right, as more than 56,000 enthusiasts visited it last year. The upgrades are part of a $5.4-billion investment GM confirmed in April that will remake its US footprint in the next three years. The Bowling Green expansion underscores GM's continued commitment to the Corvette, which sold nearly 38,000 copies around the world last year, an eight-year high. "With this major technology investment, we can continue to exceed the expectations of sports car buyers for years to come," North American manufacturing manager Arvin Jones said in a statement. OTHER NEWS & NOTES Takata recall hits 34 million vehicles The National Highway Traffic Safety Administration expanded the Takata airbag recall to an almost unthinkable 34 million vehicles on Tuesday. The recall is part of an agreement reached by the two sides where Takata admitted some of its airbag inflators have a defect, and the deal compels the company to comply with all future regulatory actions and investigations. Takata's airbag inflators were produced with "a propellant that can degrade over time" and lead to ruptures, NHTSA said. Six deaths have been attributed to the flaw worldwide. Investigations conducted by Takata, automakers, and others have not determined the exact cause of the inflator problem, but NHTSA said moisture appears to alter the propellant's chemical structure. It then ignites too rapidly, creates too much pressure that ruptures the inflator, and blasts shards of metal at passengers.

Mustang, Camaro, Challenger gallop onto USPS pony car postage stamp set

Some of America's most iconic cars are about to be immortalized on postage stamps. A new set by the U.S. Postal Service will celebrate the the golden era of pony cars, featuring five classic examples of Detroit iron. Each one is beautifully illustrated in oil-on-canvas style, with subjects in motion and sunlight glinting off the chrome, and would add a nice touch to any first-class letter. The pony car segment was all about (relatively) small, sporty alternatives to the full-size land yachts of the 1960s. They typically came equipped with 6-cylinder engines or small-block V8s. The category was named after the Ford Mustang, hence  the name. Some, though, argue that the Plymouth Barracuda, which was launched a couple of weeks before the Mustang, is the first. Luckily, the Falcon-based Mustang's distinct styling generated a sales sensation, or we might be calling them fish cars. Appropriately, one of the featured cars is a Mustang. But it's not just any Mustang. The 1969 Boss 302, seen here resplendent in Bright Yellow, was created for the hotly-contested SCCA Trans-Am racing series. One of its main rivals would have been the 1969 Chevy Camaro Z/28, also created specifically for the series, and is included in the set in Fathom Green. Representing Auburn Hills in the set is a 1970 Dodge Challenger R/T in Plum Crazy, while Southfield's American Motors gets a nod with an AMC Javelin in Big Bad Orange. The Mustang's platform cousin, a 1967 Mercury Cougar XR-7, is portrayed in a gorgeous Burgundy Poly that almost looks incomplete without Neko Case on the hood. It's not the first time the USPS has honored America's rich car culture on its stamps. In 2013, it issues a series of muscle car stamps with the help of Richard Petty. That set featured a 1966 Pontiac GTO, 1967 Shelby GT-500, 1970 Chevelle SS, 1970 Plymouth Hemi ’Cuda and, of course, a 1969 Dodge Charger Daytona. Another set in 2016 featured classic pickup trucks. Going further back, a 2008 release had chroed and finned automobiles of the 1950s and a 2005 release featured sporty American cars of the same era. The pony car stamps will debut on August 25 at the Great American Stamp Show in Sacramento, California in partnership with the American Philatelic Society. The public is free to attend the dedication ceremony, but you must RSVP first. After that, they will be available at local post offices and on line at the USPS store.