On January 17, 1953, the Chevrolet Corvette prototype was presented at the Waldorf-Astoria hotel in New York at the Motorama. But the car that we recognize today as synonymous with (relatively) affordable sportsmanship was not so loved 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 presenting a good one could make a good impression in a market then dominated by Europe. People were curious, so Chevy had to make sure it met expectations.
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The car featured an all-fiberglass body, a white exterior and a red interior, a relatively common 150-horsepower engine and a starting price of around $ 3,500 (excluding tax or optional AM radio and heater). In an effort to give the Corvette an air of exclusivity, GM initially marketed the car to VIP guests only. This plan had less than desirable results, as only part of the 300 Corvettes built that first year were sold. GM abandoned the VIP policy the following year; however, Corvette sales continued to disappoint. In 1954, GM built about 3,600 of the 10,000 planned Corvettes, with almost a third of those cars unsold in early 1955.
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To make matters worse, customers at the time were simply not impressed with the Corvette. The fiberglass body suffered from poor quality. The doors could open while the car was being driven. Water leaked all over the place. GM did its best to ensure that the newly produced cars did not have the same problems, but it is difficult to correct a bad first impression.
That said, a Popular Mechanics Research released in late 1954 found that half of the Corvette owner, who also owned a foreign sports car, said the Corvette was superior to international competition. Another 19 percent said their Corvette was at least on par with foreign competitors. Apparently, GM was on the right track.
And then Ford launched the Thunderbird, a rival to the Corvette. If it weren’t for a serious competitor trying to occupy the same market space, we could have seen the Corvette removed from the lots, left to become nothing more than a footnote in automotive history. But with Ford waiting on the wings, GM had another chance at the Corvette.
I must say that the investment was worth it. The 500,000th Corvette was built in 1977, with the millionth coming in 1992. The Corvette became an American sports staple – definitely worthy of weaknesses early in its life.