General Motors Co(GM.N) is planning to build an entry-level Chevrolet Corvette that would cost less than $50,000 and widen the iconic sports car brand's appeal, people familiar with the plans said.
The No. 1 U.S. automaker is looking at bringing out the less expensive model in mid- to late- 2015, according to the people, who asked not to be identified discussing future product strategy.
"Clearly, there's a lot of opportunity with Corvette," one of the people said. "It's good for General Motors to be thinking out of the box a little bit."
In January, GM showed the 2014 Corvette Stingray, the first new Corvette in nine years, ahead of the Detroit auto show. Called the C7 by fans, it is the seventh generation of the American-made sports car and will go on sale in late summer.