Tag Archives: GM

Bet You Didn’t Know that GM’s Bankruptcy Saved the Iconic Corvette

The Chevrolet Corvette is an icon of the American automotive industry. The latest generation of Corvettes—the C7—is considered one of the best examples of the legendary car to date. But would it surprise you to learn that the C7 was almost never produced? Today we are going to explore the history of this iconic vehicle, and how bankruptcy played a part in its salvation. Saving the Chevrolet Corvette: A Tale of Chapter 11 Bankruptcy Success Known for its sleek body lines, powerful engine and sporty stance, the Corvette has always been at the center of American motorsport. That being said, the car is also no stranger to adversity. In the early 1990s, GM had fallen into rough financial times, so executives cancelled the Corvette program. Luckily, a group of dedicated individuals made a desperate attempt to save the car from corporate destruction. It worked, and the Corvette continued to be…
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