Chevrolet slows Corvette production

The American muscle car has taken yet another hit today in what has been called an automotive recession in the US, with demand for fuel efficient and environmentally friendly cars increasing.

Chevrolet plans to completely halt production of its iconic Corvette for the week of October 6 in order to soften the effects of the current oversupply in the market.

When production resumes on October 13, assembly line speed will be reduced from 18.5 vehicles every hour to just 15, with production line staff numbers expected to fall by up to 75 workers.

Corvette sales fell 8.5 percent for the first eight months of 2008, however peaked slightly in August following the inclusion of 2008 models in an employee pricing incentive scheme.