The all-new 2014 Chevrolet Corvette Stingray C7 was  auctioned at Barrett-Jackson for $1,100,000. The lucky winning bidder will get a car with a VIN ending in #0001.

The 2014 Corvette Stingray is the most powerful standard model ever. It is powered by a 6.2 liter LT1 V8 engine featuring Active Fuel Management, CVVT (Continuously Variable Valve Timing) and an Advanced Combustion System. The result is 450HP (335 kW) and 610Nm (450 lb-ft) of torque. 0-100 km/h in under 4 seconds and a top speed of 250 km/h (155 mph) – electronically limited.

The sports car is also expected to be the most fuel efficient Corvette, exceeding EPA-estimated 26 mpg of the current model.

Chevrolet Corvette. Let’s start with the fact that last year, Ed Welburn, GM’s vice president of global design, invited GM’s 10 styling studios to submit design proposals and some of the results were “absolutely phenomenal”. He also added – “There is a lot to pick from. The direction that we take is very important, and the decision has not been made.”

Obviously this move from GM are aimed to attract buyers in Europe, where the car has little appeal, and young U.S. buyers. According to The Power Information Network, the current average age of a Corvette buyer is 54. Critics says it looks big with a cheap-looking interior. Welburn agrees with the interior “problem” – “The execution, materials selection–it’s got to be a much better interior. Our customers desire that.” And we’ll add what industry says – a redesign is due in two to three years.

Welburn compares today’s Corvette with Porsche 911 – they are about the same size, but the styling makes it look larger. Let’s cite Welburn again – “We have to develop a design that feels trimmer, meaner, to go along with the incredible performance that the car has.” He also intended it’s about time for development of the Corvette, but the new Corvette can’t be so far away in concept than today’s Corvette.