On January 17, 1953, the Chevrolet Corvette prototype was unveiled at the Waldorf-Astoria Hotel in New York at Motorama. But the car we recognize today as synonymous with (relatively) accessible sportiness was not as beloved when it first appeared.
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Harley Earl, GM’s chief designer at the time, was convinced that a two-seater sports car was the way to go, and introducing a good one could make an impression on what was then a European-dominated market. People were curious, so Chevy had to make sure it met their expectations.
From History:
The car had an all-fiberglass body, a white exterior and a red interior, a relatively insignificant 150-horsepower engine, and a starting price of about $ 3,500 (excluding taxes or an optional AM radio and heater). In an effort to give the Corvette an air of exclusivity, GM initially marketed the car to VIP customers by invitation only. This plan had less than desirable results, as only a portion of the 300 Corvettes built that first year were sold. GM withdrew the VIP policy the following year; however, Corvette sales continued to disappoint. In 1954, GM built about 3,600 of the 10,000 Corvettes it had planned, and nearly a third of those cars remained unsold in early 1955.
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To make matters worse, customers at the time were not impressed with the Corvette. The fiberglass body suffered from poor quality. The doors could be opened while the car was being driven. Water seeped all over the damn place. GM did its best to make sure the new production cars didn’t present the same problems, but it’s hard to correct a bad impression.
That said, a Popular mechanics a survey published in late 1954 revealed that half of the Corvette owner who also owned a foreign sports car said the Corvette was superior to its international competition. Another 19% said their Corvette was at least on par with foreign competition. Apparently, GM was into something.
And then Ford launched the Thunderbird, a rival to the Corvette. If it hadn’t been for a serious competitor trying to occupy the same market space, we would have seen the Corvette withdraw from the lots, leaving it to become a footnote to the car’s history. But with Ford waiting on the wings, GM had another stab at the Corvette.
I must say that the investment paid off. The 500,000th Corvette was built in 1977, with the millionaire arriving in 1992. The Corvette has become a staple of the American sports car, definitely worthy of the weaknesses at the beginning of its life.