General Motors has announced that it is slowing production of its iconic sports car.
The automotive giant announced earlier this week that it will give production of the Chevrolet Corvette a rest the week of Oct. 6. When its Bowling Green, Kentucky, assembly plant returns to work after the break, it will have 75 fewer workers and turn out 3.5 fewer cars per hour.
It's been more than a decade since the "recession-proof" Chevrolet Corvette had to endure a production cut due to excess dealer inventory, but that's apparently the case once again.
Citing slow sales related to the ongoing automotive recession, the company recently implemented moves to increase lagging sales figures including the employee priding deal, which knocks an impressive $10,000 of the sticker price of a new Corvette Z06.
Though sales jumped with the discount, they remain well off last year's mark--down 8.5% through August.