New Chevrolet Corvette priced from just $US59,995

The all-new 2020 C8 Chevrolet Corvette Stingray might top out at 312km/h thanks to a mid-mounted 6.2-litre V8, but it will also be a bargain – at least in the US, where pricing will start at just $US59,995.

That translates to about $87,000 in Australia, where the new C8 Corvette will arrive in selected Holden dealerships late next year (or early 2021 if global demand is strong – and it almost certainly will be).

But Aussies may only be offered top-spec versions of the first global Corvette, which in flagship 3LT form costs $US71,945 in North America, according to full price, spec and options information released overnight by GM.

That equates to $A106,000 and doesn’t include import duty, luxury car tax and other costs, which could jack up the price considerably – to around $A160,000.

That's roughly the same price as the flagship Chevrolet Camaro ZL1 coupe sold in some Holden/HSV showrooms, where the Corvette supercar will become the third Chevrolet model officially available from GM in Australia, also including the Silverado pick-up.

Given the Corvette's extreme levels of performance, however, a $160,000 would be a relative bargain.

All models are powered by a Chevy's new LT2 6.2-litre naturally-aspirated V8 engine worth 366kW (490hp) and 640Nm of torque (470lb-ft).

Together with launch control and the new eight-speed dual-clutch automatic transmission, it delivers 0-100km/h acceleration in "under 3.0 seconds" and a 312km/h top speed, according to Chev.

That puts the eighth-generation Corvette in the same performance ballpark as significantly more expensive vehicles such as the McLaren 540C ($350,000) and Ferrari 488 GTB ($469,988). Just don't call the Corvette an exotic car, okay?

In the USA, three C8 Chevrolet Corvette model grades have been announced: the 1LT ($US59,995), 2LT ($US67,295) and 3LT ($71,945).

Holden would neither confirm nor deny whether all three models will be offered locally, but expect at least the top-spec 3LT or an equivalent model to be available here.

We understand Holden and HSV dealers are now being briefed on the crucial new hero car for the red lion brand, but not all outlets will get the car.

HSV showrooms that already sell the Chevrolet and Silverado are likely to be favoured, and only a handful of those outlets may be able to service the new Corvette.

All models sold in the USA come with the hard-core small-block mid-mounted V8 powertrain, including the eight-speed automatic transmission.

The Corvette 1LT gets GT1 sports seats, a leather steering wheel, carbon flash exterior highlights, removable body-color roof panels and a 10-speaker Bose stereo.

Step up to the 2LT and you get heated/cooled seats, a heated steering wheel, a head-up display and, 14-speaker Bose stereo, more interior colour options and the availability of Napa leather GT2 seats ($1495) and competition bucket seats ($1995).

The flagship Corvette 3LT gets Napa leather GT2 seats, a leather upholstery on the dashboard, instrument panel and door inserts, 13 interior color options and suede microfiber upper interior trim, to name the major upgrades.

In the US, the C8 Corvette is offered in 12 colours: Arctic White, Ceramic Matrix, Grey Metallic, Blade Silver Metallic, Black, Shadow Gray Metallic, Torch Red, Elkhart Lake Blue Metallic, Zeus Bronze Metallic.

Four of them will cost extra, including Accelerate Yellow Metallic and Rapid Blue ($US500), and Long Beach Red Metallic Tintcoat and Sebring Orange Tintcoat ($US995).

Owners can choose their brake calliper colour if the standard black is too dreary. Yellow, red, and Edge Red colours are offered ($US595).

Body stripes ($US995) are offered in black and two silver hues, and the roof panels can be changed to transparent ($US995) or carbon-fibre ($US2495).

Wheels? There's a load of options here, including a darker carbon flash finish on open-spoke wheels ($US995) right up to a black finished Trident wheel set ($US2695).

If you want more noise, there's a sports exhaust option ($US1195), while MagneRide adjustable dampers are $US1895 extra.

There's also a Z51 package ($5000) that reduces top speed slightly by way of more aggressive aero bits that increase downforce.

As well as the big rear wing the Z51 pack adds the sports exhaust and suspension, an electronic slippery diff, upgraded brakes and improved engine cooling. Oh and the engine gets an extra 5hp for 495hp (almost 370kW) at 6000rpm.

Those in the USA can also take delivery of their vehicle from the Corvette Musuem for a small sum ($US995).

"We've packed a lot of performance into the Corvette Stingray at this price when you consider an eight-speed dual clutch transmission, small block V8 and engine-mounted dry sump oil system are all standard," said Tadge Juechter, Corvette executive chief engineer.

The 2020 Chevrolet Corvette Stingray will commence production at GM's Bowling Green plant in late 2019 before US deliveries begin in early 2020.