Chevrolet Corvette Z06 raises big money for charity

Chris Teague

Chris Teague

The Z06 isn't on sale yet, but it's already raising money for charities.

Just a couple years ago, the Chevrolet Corvette got a major overhaul that completely changed its design, personality, and performance. The car moved to a mid-engine layout for the first time, and its V8 produces thundering performance at a reasonable price. As it has always done with the Corvette, Chevy’s laying out special editions for the car, and one of the first in the new generation will be the 2023 Corvette Z06. An early Z06 sold at a Barrett-Jackson auction this weekend to raise money for charity, and the final dollar amount crested the $1 million mark.

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The car raised $1 million at the Palm Beach Auction. Chevrolet

The car crossed the block at the Palm Beach Auction, which took place on April 9. It’s the first production model of the car, which builds on the mid-engine eighth-generation Corvette. It’s powered by a 670-horsepower 5.5-liter flat plane-crank V8, which sends its power to the rear wheels through an eight-speed dual-clutch automatic transmission. The engine revs much higher than a standard V8 and features a distinct sound. Chevy says the Z06’s engine offers the most horsepower of any naturally aspirated V8 on sale.

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Rick Hendrick was the winning bidder for the car. 2023 Chevrolet Corvette Z06

The car’s $1 million price tag raised money for the Thurgood Marshall College Fund. The organization supports training of educators at Historically Black Colleges and Universities (HBCU) and Predominantly Black Institutions (PBI). This auction, together with the first retail version of the car auctioned earlier this year, brings the Corvette’s total charity haul to $4.6 million in 2022.

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