General Motors spending $131 million to upgrade Corvette plant

General Motors is spending $131 million on its Bowling Green, Ky., assembly plant to prepare it to build the next-generation Corvette. The plant will spend the money on manufacturing equipment, specialized tooling and plant updates, said Mark Reuss, GM's president of North America. The plant will add about 250 jobs, which will boost its workforce by about 50 percent, to about 750 workers.

News watch May 2012: today's auto industry news

Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hour Friday 1 June 2012• Peugeot-Citoren has been hit hardest by a 17% drop in overall domestic sales during May. PSA saw a 28% fall in sales, with Renault suffering a 14% decline, and Fiat 21%.

Tesla Model X SUV delayed until 2015

Tesla has revealed that its Model X SUV – based on the Model S – will be delayed until 2015 so Tesla can concentrate on Model S sales. Despite plenty of cynicism in the car industry that Tesla could deliver their Model S saloon at all, never mind at a reasonable cost, Tesla has confounded its critics by not only launching the Model S, but seemingly taking as many orders as it can handle. On the face of it, that’s not surprising.