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Here's the story:
Illustrated Corvette Series No. 65 - 1982 Corvette
"The Last of the C3 Sharks"
Speculation
by the automotive press about what Chevrolet was up to with the
Corvette has been going on since the mid '50s. By 1982, word was out
that there would finally be a new Corvette, soon.
Thanks to the sales success of the Corvette in the late '70s, the GM
bean counters commanded, "Sales are great – keep making
them!" Although enthusiasts were dying for a new Corvette, the delaying
of the C4 gave engineering a chance to make the last of the C3
Corvettes as good as they could, considering the restrictions they had
to work with.
The only thing faster than a Corvette in early '80s America was
inflation. The last C3 was also the most expensive of the Shark
Corvettes. The new base price was $18,290 – up $2,032 from
'81! And to send the C3 into the history books with a splash, Chevrolet
offered the "Collector Edition Corvette" for a whopping $22,537
– making it the first Corvette to bust the 20K barrier. But
because the press was all a buzz over the pending C4, buyers opted to
wait and see. Consequently, the '82 Corvette only sold 25,407 units
– down 15,199 from '81. That was the lowest sales year since
1971.
Chief engineer, Dave McLellan decided that the Collector Edition would
offer, "...a unique combination of color, equipment, and innovation
– resulting in one of the most comprehensive packages ever
offered to the Corvette buyer." For an extra $4,247 the Collector's
Edition Corvette included a lift-back rear window hatch, aluminum
wheels, silver and beige paint, matching leather interior, and special
emblems. To prevent imitation versions, the car had special i.d. plates.
By the end of the year, 6,759 Collector Editions were sold –
slightly less then the '78 Corvette Pace Car. Many felt that the
Collector Edition splash was to distract the fact that there was only
one engine available, the 200hp L83 and a manual transmission was not
available. The new "Cross-Fire Injection" engine was hardly noticed.
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