NASCAR team owner Rick Hendrick spent $1.1 million on the first production 2014 Corvette Stingray -- and didn't even get to drive the car home.
Hendrick bought the world's first production version of the newly redesigned Corvette on Saturday at the Barrett-Jackson classic car auction in Scottsdale, Ariz. But he'll have to wait to take delivery on the car -- with the coveted vehicle identification number ending in 0001 -- until the redesigned Corvette starts production in late summer.
That means, unlike other buyers, Hendrick gets to fully customize the vehicle, selecting the interior and exterior colors, the performance packages and options. A bright red pre-production Corvette was a placeholder during the auction, which was shown live on the Speed channel.
The 2014 Corvette is the seventh generation of the iconic sports car, and it made its world debut at the 2013 Detroit Auto Show on Jan. 13. It's powered by a 450-horsepower V-8 and will come with either a six-speed automatic transmission or a seven-speed manual. Chevy hasn't released pricing for the 2014 Corvette, but it probably will start at under $55,000.
Proceeds from the Barrett-Jackson sale will benefit the College for Creative Studies in Detroit. The school has a well-regarded automotive design program, and more than 170 graduates of the school work in General Motors' design studios, according to the automaker.
The Corvette Stingray was one of several vehicles GM had Barrett-Jackson auction off for charity. Also in the mix was a 1958 Corvette owned by GM Chairman and CEO Dan Akerson. That car raised $270,000 for Habitat for Humanity Detroit's Morningside Commons neighborhood.
In addition to the five GM cars sold for charity, 16 other vehicles hit the Barrett-Jackson auction block in Scottsdale to raise money for charities. The company says that since 1971, it's raised more than $50 million for charitable causes through its auctions.
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