Introduction to the New Chevrolet Corvette Concept Car

General Motors on Monday revealed a new all-electric Chevrolet Corvette concept car as part of the opening of a new design studio in England. The car features a sleek, aerodynamic exterior that resembles a futuristic IMSA race car more than a traditional Corvette, but it does pay some homage to the American sports car in featuring a split window design from the 1963 Sting Ray model, among other design elements.

Design and Features

GM said the new concept — which is a "design study" not intended to be a production model — and design studio show the Detroit automaker’s continued "commitment to Europe as the company scales its Cadillac electric vehicle business there, while also preparing to launch Corvette sales" across the region. The Corvette concept and U.K. design center opening come at an inopportune time as the U.S. and the world’s largest automotive markets partake in a trade war with tariffs, including between America and Europe.

GM’s Reentry into Europe

GM is attempting to reenter Europe after selling off its Opel European division to then-PSA Groupe, now part of Stellantis, in 2017. Automakers routinely use concept vehicles to gauge customer interest, showcase future technologies and signal the direction of a vehicle or brand. GM said Monday the U.K. concept is part of a global design project involving multiple studios that will see additional Corvette concepts revealed throughout 2025.

Global Design Project

The carmaker has other design studios in or near Detroit; Los Angeles; Shanghai; and Seoul, South Korea. The new concept car is expected to be a significant milestone in GM’s global design project, which aims to create a new generation of electric vehicles that are both stylish and environmentally friendly.

Conclusion

The new Chevrolet Corvette concept car is an exciting development in the world of electric vehicles, and its sleek design and advanced features are sure to generate a lot of interest among car enthusiasts. As GM continues to expand its presence in Europe and other markets, it will be interesting to see how the company’s design studios contribute to the development of new and innovative vehicles.

FAQs

Q: What is the new Chevrolet Corvette concept car?
A: The new Chevrolet Corvette concept car is an all-electric vehicle that features a sleek, aerodynamic exterior and a split window design from the 1963 Sting Ray model.
Q: Where is the new design studio located?
A: The new design studio is located in England, and it is part of GM’s global design project involving multiple studios.
Q: What is the purpose of the concept car?
A: The concept car is a "design study" intended to gauge customer interest, showcase future technologies, and signal the direction of a vehicle or brand.
Q: Will the concept car be produced?
A: No, the concept car is not intended to be a production model.
Q: What other design studios does GM have?
A: GM has design studios in or near Detroit; Los Angeles; Shanghai; and Seoul, South Korea.

Ted Christie, who has served as President and CEO of Spirit Airlines since 2019, is officially stepping down from his role, the company announced Monday. His departure comes as the budget airline works to rebuild following its recent emergence from Chapter 11 bankruptcy protection.

Christie, who led the airline through one of the most turbulent periods in aviation history—including the Covid-19 pandemic—leaves behind a complex legacy marked by bold strategy, pandemic resilience, and financial turbulence.

Interim Leadership Team Appointed

In the wake of Christie’s departure, Spirit Airlines has appointed a group of senior executives to jointly lead the company while a permanent successor is identified. The interim leadership includes:

• Fred Cromer, Chief Financial Officer

• John Bendoraitis, Chief Operating Officer

• Thomas Canfield, General Counsel

This transitional leadership team will guide Spirit through its next phase, focusing on stability, operational performance, and customer experience.

Challenges That Led to the Shift

Spirit Airlines has faced mounting challenges over the past several years. Once a pioneer in the ultra-low-cost carrier model, the airline struggled to maintain profitability amid:

• Increased competition from both low-cost and traditional carriers

• A failed merger attempt with JetBlue Airways

• Shifting consumer expectations, with passengers demanding more value, flexibility, and service

• Financial strain, leading to its filing for Chapter 11 bankruptcy protection in November

That filing marked the first time a major U.S. airline had sought bankruptcy protection since 2011. The airline officially exited bankruptcy last month, but the path forward remains demanding.

A Pivotal Moment for Spirit

This leadership transition arrives at a critical juncture. Spirit must regain the trust of investors, restructure its operations, and re-establish itself in a fiercely competitive market. The new leadership group is tasked with not only navigating this recovery but also laying the foundation for sustainable growth.

Industry watchers will be closely monitoring whether the airline sticks with its ultra-low-cost model or pivots toward a more hybrid strategy in response to evolving market demands.

Conclusion

Ted Christie’s departure marks the end of a significant chapter for Spirit Airlines. With new interim leaders stepping in, the company enters a crucial rebuilding phase following its emergence from bankruptcy. The airline’s next moves—especially the appointment of a new CEO—will be pivotal in determining its long-term trajectory in the U.S. aviation industry.

FAQs

Q: Who is stepping down as CEO of Spirit Airlines?
A: Ted Christie, who has served as CEO since 2019, is stepping down from his position.

Q: Who will lead Spirit Airlines during the transition?
A: A team of senior executives—Fred Cromer (CFO), John Bendoraitis (COO), and Thomas Canfield (General Counsel)—will jointly lead the airline until a new CEO is appointed.

Q: Why did Spirit Airlines file for bankruptcy?
A: The airline cited prolonged financial losses, a failed merger with JetBlue, intensified competition, and shifting consumer preferences as reasons for filing Chapter 11 bankruptcy protection in November.

Q: Has Spirit Airlines exited bankruptcy?
A: Yes, Spirit Airlines emerged from Chapter 11 bankruptcy protection last month and is now focused on restructuring and recovery.

The Toy Aisle is About to Get More Expensive

The toy aisle is about to get more expensive. President Donald Trump expanded his trade war this week, placing a 10% baseline tariff on almost every country and much steeper levies on dozens of others. Among those hit with higher tariffs were China and Vietnam — two nations that are vital to the domestic toy industry.

Impact on the Toy Industry

For decades, U.S. toy companies have worked with Chinese manufacturers to bring the hottest action figures, dolls and games to retail shelves. Vietnam became a solid secondary market for companies looking to diversify their factory locations amid growing trade tensions between Washington and Beijing. Trump slapped China with an additional 34% duty Wednesday, bringing the total tax on goods from the nation to 54%, and hit Vietnam with a 46% tariff. The levy is far higher than what toy companies expected and could lead to massive price hikes on toys, industry experts said.

Reaction from the Industry

"Everyone is really in scramble mode," Greg Ahearn, president and CEO of The Toy Association, told CNBC. "This is going to have massive negative repercussions for the consumer and for our industry." Adding to the tensions, China is set to impose a retaliatory 34% levy on all U.S. products, its commerce ministry announced Friday.

Tariff Impacts on Toy Companies

Around 77% of toys imported into the United States come from China, according to data from The Toy Association. Vietnam is third, just behind Mexico. Trump previously placed a 25% tariff on goods from Mexico that aren’t compliant with the United States-Mexico-Canada Agreement. Hasbro and Mattel, leaders in the toy space, both incorporated a 20% tariff impact from China in their guidance projections for 2025 and had strategies in place to shift production to other countries, like Vietnam, Indonesia and India, all three of which were also hit with tariffs — 46%, 32% and 26%, respectively.

Financial Implications

"As a result, relocating production may not be financially viable," wrote Eric Handler, analyst at Roth, in a research note to investors published Thursday. "The consumer should soon see price increases to partially offset the tariff impact." Hasbro and Mattel report first-quarter earnings this month, and Handler said investors will likely see guidance cuts from both companies. Toy companies have already been slammed on Wall Street in the wake of the tariff announcement. Mattel shares fell more than 16.5% in Thursday trading, Hasbro lost more than 12% and Funko, which also has manufacturing in China and Vietnam, saw its stock plummet 18%.

Expected Price Increases

While Handler expects companies to try and lower costs through contract renegotiations with manufacturers and, perhaps, even altering packaging to improve margins, he said there is little doubt that consumers will bear the brunt of Trump’s duties. "You could have anywhere from 35% to potentially even a point-for-point price increase on products depending upon what margin those products run at," The Toy Association’s Ahearn said. "It may actually just be a 50% price increase, given it’s a 54% tariff." Most toy margins are in the high single digits, he noted. So, there is very little wiggle room for companies to absorb these fees.

Conclusion

The increased tariffs on Chinese and Vietnamese goods will have a significant impact on the toy industry, leading to higher prices for consumers. The Toy Association expects price hikes to coincide with this year’s back-to-school season. "There’s no place for it to go, but to the consumer," Ahearn said, noting that "The greatest budgetary impact on are the folks, unfortunately, who can afford it the least."

FAQs

Q: What is the main reason for the expected price increase in toys?
A: The main reason is the increased tariffs on Chinese and Vietnamese goods imposed by President Donald Trump.
Q: Which countries are most affected by the tariffs?
A: China and Vietnam are the most affected countries, with tariffs of 54% and 46%, respectively.
Q: How will the tariffs affect toy companies?
A: The tariffs will lead to higher costs for toy companies, which will likely be passed on to consumers in the form of higher prices.
Q: When can consumers expect to see price increases?
A: Price increases are expected to coincide with this year’s back-to-school season.
Q: Which toy companies will be most affected by the tariffs?
A: Hasbro, Mattel, and Funko are among the toy companies that will be most affected by the tariffs.