On January 17, 1953, the Chevrolet Corvette prototype was unveiled at the Waldorf-Astoria hotel in Motorama, New York City. But the car that we now recognize as synonymous with (relatively) accessible sportiness was not so popular 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 right choice, and the introduction of a good car could impress what was then a European-dominated market. People were curious, so Chevy had to make sure it lived up to its expectations.
From History:
The car had a fiberglass body, white exterior and red interior, a relatively unobtrusive 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 a touch of exclusivity, GM initially marketed the car to invitation-only VIP customers. This plan yielded less than desirable results, as only a portion of the 300 Corvettes built that first year were sold. GM dropped 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 planned, nearly a third of which were 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. Doors could open while driving. Water was leaking all over the damn place. GM did its best to ensure that newly produced cars didn’t show the same problems, but it’s hard to correct a bad first impression.
That said, one Popular mechanics A survey released in late 1954 found that half of the Corvette owner who also owned a foreign sports car said the Corvette was superior to its international competition. Another 19 percent said their Corvette was at least on par with the foreign competition. Apparently GM was up to something.
And then Ford launched the Thunderbird, a rival to the Corvette. Had it not been for a serious competitor trying to occupy the same market space, we might have seen the Corvette disappear from the lots, which is nothing more than a footnote in automotive history. But while Ford waited in the wings, GM had another stab at the Corvette.
I have to say that the investment paid off. The 500,000th Corvette was built in 1977, the millionth coming in 1992. The Corvette has become a staple of sporty Americana – well worthy of its weaknesses at the start of its life.