First 2020 Corvette Brings In $3M

The new C8 touts the highly-publicized introduction of a mid-engine design.

The first 2020 model year Corvette available for sale was recently auctioned off, fetching $3 million.

The new C8 touts the highly-publicized introduction of a mid-engine design. From an engineering perspective this improves weight distribution, which leads to better handling and performance.

The approach is used by many high-end European sportscars.

The C8 boasts a 6.2-liter, 495-horsepower engine that can go 0 to 60 mph in under three seconds, making it the fastest Corvette ever.

The pivot to a mid-engine design hopes to attract younger buyers that assume sports car performance has to emanate from across the pond.

While options can take the C8 well over $100,000, the base price comes in at about $60,000. The vehicle being auctioned was donated by GM, with all proceeds going to the Detroit Children's Fund.

The winning bidder was NASCAR team owner Rick Hendrick. Last year, he paid $2.5 million for a 2019 Ford GT Heritage Edition at a similar event.

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