2024 Corvette E-Ray VIN 001 Sale Raises $1.1M For Charity15
As GM Authority reported last month, the first production-spec 2024 Corvette E-Ray – which boasts VIN 001 – was set to be auctioned off for charity. Now, the first C8 E-Ray has officially been sold at a recent Barrett-Jackson auction in West Palm Beach, Florida.
Outfitted in the range-topping 3LZ, this hybrid Vette sold for $1.1 million at auction, with 100 percent of proceeds benefiting DonorsChoose. This national non-profit aims to provide assistance for in-need classrooms. An additional $50,000 was donated to the charity from a generous Barrett-Jackson VIP in attendance.
“The atmosphere in the auction arena was supercharged during the bidding on the first retail production 2024 Chevrolet Corvette E-Ray,” said chairman and CEO of Barrett-Jackson Craig Jackson. “The Corvette is ‘America’s Sports Car,’ and the sale of the first electrified version ever produced was an iconic moment as collectors coveted the chance to own a piece of automotive history. Barrett-Jackson has a long history of auctioning VIN 001 vehicles from General Motors to benefit deserving charities and we are proud to have had the opportunity today to help raise funds for our nation’s classrooms.”
As a reminder, the 2024 C8 Corvette E-Ray is the first Corvette to feature AWD and an electrified powertrain. The naturally aspirated 6.2L V8 LT2 engine, rated at 495 horsepower and 470 pound-feet of torque, is complemented by an electric motor on the front axle. This supplemental electric motor develops an extra 160 horsepower and 125 pound-feet, bringing total system output to 655 horsepower.
A new variant of the Corvette C8’s dual-clutch, eight speed automatic transmission (RPO code MLH) is now offered exclusively with the E-Ray.
Under the skin, the C8 E-Ray rides on the GM Y2 platform, which it shares with all C8 variants. Production is currently scheduled to kick off in September 2023 at the GM Bowling Green plant in Kentucky alongside the C8 Stingray and C8 Z06 models.
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A million dollar tax write off and someday sell it for a big profit.
budlar – and that my friend is how the rich get richer. The same people that write these tax laws, harp on how bad the rich are all the while collecting campaign money from them. You can’t make this sh!t up.
Your understanding (or not) of tax laws is noted. Apparently, you can make it up….
How? GM gets to write it off, not the buyer, ‘cuz the buyer didn’t contribute to the charity, GM did. The buyer bought an E-Ray at an auction, but the proceeds went to the charity, not to GM, as they otherwise would. The buyer just gets to have the E-Ray. Which he could probably sell for a big profit tomorrow, so he does get that benefit.
If donates the Corvette to the charity first and then the bidder buys it from the charity then both of them get a tax credit, though I’m not sure if GM can only claim the MSRP of the Corvette as the write off or what it sold for, though GM probably has an office full of accountants that will figure it out.
What’s even better is when corporations ask if you want to round up at checkout for a charity (i.e., Panda Express, McDonalds, etc.) – yes that money does go to the charity, but on behalf of the corporation providing them the good will and the tax break.
so, it helps the charity
Those wheels and the body colored moldings on the ZO6 body make the e-Ray the best looking Corvette variant right now.
It doesn’t say who the buyer was but I’ll bet it was Rick Hendrick, he buys all of these 00001 VIN cars at BJackson.
I read this thinking his name. I would also bet it was Rick.
im willing to bet rick Hendrick bought it for his vette collection ,
I’m assuming this is Riptide Blue Metallic. Looks very similar to Elkhart Lake Blue Metallic. I can’t tell the difference.
According to AutoBlog, “The winning bid was submitted by Rick Hendrick, chairman and CEO of Hendrick Automotive Group and owner of the NASCAR team Hendrick Motorsports.”
Rick buys every 1st edition Chevrolet sports car so nobody else can enjoy them! He is truly the RICHIE RICH of modern time!
I wonder what would happen if Elon Musk decided to call his bluff and offer up a ridicules amount of $5,000,000 just to see if Rick would cry if he doesn’t get it. I’m sure Rick would ultimately win at all costs, but at $5 million we could easily say that the Charity would be the biggest big win of the day!
Outstanding that they continue to do this for charity. Really like the blue but I thought all E Rays are going to come with CF wheels. Maybe not. Beautiful car either way. If I remember right he paid 3.5m for the first ZO6, guessing the first ZR1 will bring even more.
they ask hendrick what color he wants before they even build these first new models.
That’s a good one!