First 2020 Chevrolet Corvette Sold at Auction for Nearly $4 Million

The very first production copy of the 2020 Chevrolet Corvette sold for $3 million USD (approx. $3.9 million CAD) at the Barrett-Jackson Scottsdale auction in Arizona on Saturday.

That's more than the $2.7 million USD (approx. $3.5 million CAD) raised by the final Corvette with a front engine in Connecticut last summer.

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All proceeds from the sale will benefit the Detroit Children’s Fund, which provides less fortunate youth with a quality education.

Unlike the pre-production car you see in the pictures, the history-making Corvette is a fully loaded 3LT model painted in black and fitted with a black interior. It will be built after production begins at the Bowling Green Assembly plant in February.

General Motors CEO Mary Barra was on hand at the event and said fan reaction to the launch of the new Corvette so far has been "unbelievable."

Since the Corvette's debut in 1953, the engine has always resided under the hood. However, the eighth generation switches to a mid-engine layout, thus completely altering the shape and dynamics of the car. The naturally aspirated 6.2-litre V8 produces up to 495 horsepower and 470 pound-feet of torque. Also, every Corvette now comes with an eight-speed dual-clutch transmission. The manual gearbox is no longer offered.

The 2020 Chevrolet Corvette starts at $69,998 in Canada.