The award, which has an under $29,000 and over $29,000 category, was voted on by a panel of journalists and analysts. Points were handed out for innovation leaders in value, design and technology.
“It’s fantastic because it’s based on innovation,” said global chief marketing officer for Chevrolet, Tim Mahoney. “That’s one of the things that the brand stands for is technology and innovation. So it’s a real honor to receive it.”
The Corvette beat out stiff competition for the award, including the Mercedes Benz S-Class, Ford Fusion Energi and Infinity Q50 Hybrid.
The new Corvette has won multiple awards in its first year of production, including the Road and Track Performance Car of the Year. It is also in contention to win the North American Car of the Year, which will be announced at the North American International Auto Show in Detroit in January.