- (month unknown)
- In Mexico, the La Carrera Classic II race is held, 115 miles from Ensenada to San Felipe. Finishing 1st overall is the #45 1964 Corvette convertible, driven by Paul Canary. [693.135]
- May 3
- At the Laguna Seca Raceway in Monterey, California, the 24th Annual Monterey Triple Crown race is held, part of the IMSA Camel GT series. The Corvette GTP finishes 2nd. [433.26] [643.150] [854.29]
- (month unknown)
- General Motors begins durability testing of ZF six-speed transmissions. [232.64]
- June 4
- MerCruiser of Stillwater, Oklahoma, signs a formal contract to supply LT5 engines to Chevrolet for the Corvette. [218.52] (1986 [223.52])
- June 7
- At the Mid-Ohio Sports Car Course in Lexington, Ohio, a race of the IMSA Camel GT series is held. The two Corvette GTP cars finish 3rd and 11th. [433.26] [854.29]
- June
- The NBC television network moves the Stingray show to Fridays, 8:00-9:00. [281.587]
- The July issue of Car & Driver magazine presents its Ten Best article. The Ten Best Cars list includes Corvette. In Ten Best Performers: Braking, 70 to 0 MPH: Corvette is 1st at 164 feet. [688.37]
- (month unknown)
- The Bloomington Gold Corvette Corral us held. 25,000 enthusiasts attend, with 3000 Corvettes parked, 350 vendors, 400 Corvettes for sale, 103 of 140 judged Corvettes are gold certified. The Silver Anniversary Salute features the 1962 Corvette. The Special Collection theme is fuel-injection, with thirty cars, including the CERV I, CERV II, 1963 GM Styling Car, 1962 Golf Oil racer, 1957 RPO air box Corvette, 1957 pilot production Corvette, 1956 SR2. [609.18]
- July
- In Sioux Falls, South Dakota, the 16th Annual Black Hills Classic show is held, with drag races, auto cross, and rally. A 225 Corvette caravan, the world's longest, is met by another caravan to make 444 Corvettes from 25 states and two Canadian provinces. Chevrolet displays the Corvette Indy prototype. [609.34]
- The NBC television network cancels the Stingray show. [281.587]
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- July 26
- At the Portland International Raceway in Portland, Oregon, the G.I. Joe's Grand Prix race is held, part of the IMSA Camel GT series. The two Corvette GTP cars finish 4th and 7th. [433.26] [693.143] [854.29]
- August 2
- At the Sears Point International Raceway in Sonoma, California, the Ford California Grand Prix race is held. The Corvette GTP finishes 3rd. [433.26] [854.29]
- August 7
- In Bowling Green, Kentucky, the National Corvette Homecoming is held over three days. In the Corvette auction of 80 cars, 24 are sold. Some highlights:
- 1957 red roadster US$20,000;
- 1962 fuel-injected US$30,000;
- 1967 convertible 427ci/435hp US$22,750.
[609.66] [613.75]
- August
- Car and Driver magazine hosts "Gathering of Eagles", at which a Callaway Top Gun Corvette reaches 231 mph. [33.39]
- Bob Luther of Jefferson, Wisconsin buys the white 1984 Corvette that was used in The A-Team television show. [221.63]
- August 21
- At the Laguna Seca Raceway in Monterey, California, the 14th Annual Monterey Historic Automobile Races are held, over three days. About 50,000 people attend. Chevrolet holds its official 75th birthday party. Many historic Corvettes are on display and 34 participate in races, including the 1957 Corvette SS, 1960 Le Mans Corvette, CERV I, CERV II, 1959 Stingray, 1970 Manta Ray, 1977 Aerovette, two 1956 Corvette SR-2s, 1969 Owens-Corning Fiberglas Corvette, 1971 ZR-2 Corvette, 1963 Z06 Corvette, 1956 Sebring Corvette, 1962 Sebring coupe, and two 1963 Grand Sports (#003 and #004). Attending the event are Zora Arkus-Duntov, Ed Cole, Dave McLellan, Dick Thompson, Phil Hill, Jim Hall, Joe Pike, John Fitch, Augie Pabst, Roger Penske, Bill Mitchell, Hap Sharp, and Bob D'Olivio. Rich Mason is awarded the Phil Hill Monterey Cup for outstanding entry / race car of the meet, for his 1956 Corvette SR-2, originally owned by Jerry Earl. In the 1952-57 2000+ cc class race, 10 of 21 entries are Corvette.
- Finishing 1st is Dick Guldstrang; 2nd, 3rd, and 4th are Corvettes.
In the 1958-62 2000+ cc class race, 9 of 21 entries are Corvettes.
- Finishing 1st is Ron Cressey in a 1959 Corvette;
- finishing 4th is Bob Reynolds in a 1961 Corvette;
- finishing 5th is Noel Park in a 1958 Corvette;
- finishing 9th is Ron Sherman in #85 1962 Corvette.
In the 1963-66 GT class, Paul Rienhart finishes 2nd in a 1963 Corvette, and Ken Ballard finishes 4th in a 1966 Corvette. In the 1965-72 GT+FIA class, 5 of 28 entries are Corvettes. [205.54,106] [3.6,38] [271.174] [299.33] [431.21] [488.25] [578.8,23] [609] [693.143]
- At an auction of the Rick Cole Auction Company in Monterey, California, Les Bieri and Howard Kirsch buy unrestored 1953 Corvette number 003 from Ed Thiebaud, for US$37,000. The car does not have its original frame, so there are concerns about its originality. (Chevrolet records later prove its authenticy. Chevrolet participates in a restoration, including supplying a new frame.) [148.20] [578.12]
- August 24
- Production begins on 1988 model Corvettes. [453.11]
- September 6
- In San Antonio, Texas, the Camel Grand Prix race is held, part of the IMSA Camel GT series. The Corvette GTP finishes 3rd. [433.26] [854.29]
- September 12
- In Columbus, Ohio, the McDorman Chevrolet dealership holds a Corvette show and auction over two days. Of 76 Corvettes at auction, 32 are sold. [609.67] [613.75]
- September
- With help from American Sunroof Corporation, Chevrolet begins working on a removable hardtop for the Corvette. [19.55]
- Miles Collier sells the CERV I and II cars to Steve Hendrickson and Kerrie James for US$300,000. [21] [42.84] (1986, US$350,000 [34]) (1989, US$1.2 million for CERV I [211.11])
- September 20
- At the Mosport Park raceway in Bowmanville, Ontario, Canada, round ten of the SCCA Bendix Brake Trans-Am Championship series is held.
- Finishing 7th is the ETF/Quality Construction #97 Corvette, driven by Donald Sak.
- Finishing 15th is the #76 Corvette, driven by Jerry Simmons.
[423] [433.28]
- October 1
- Chevrolet introduces the 1988 model Corvette. [453.136] [871.115]
- October
- John Powell proposes to the SCCA a series of races for only new identical Corvettes. The series will emerge as the Corvette Challenge in 1988 and 1989. [615.59]
- October 19
- "Black Monday": stock markets around the world suffer an unexpected dramatic drop, with the American Dow Jones Industrial Average falling 22.6%, the largest one-day drop in recorded stock market history. (This shaking of confidence in the stock market, coupled with low interest rates, prompts small investors to look elsewhere, including cars. Prices of scarce and rare-option Corvettes of the 1960s begin dramatic increases.) [572.16] [614.51]
- (month unknown)
- Monogram releases a 1/12-scale 1967 Corvette 427 Coupe model #2801. [610.26]
- November
- In Las Vegas, Nevada, the Specialty Equipment Market Association (SEMA) show is held. The Corvette Indy concept vehicle is shown publicly for the first time. It has a 350-ci 380-hp V-8 engine mounted behind the driver, four-wheel drive, active suspension, with top speed of over 180 MPH. Extensive use of carbon-fiber is made in the structure and body panels. [205.49,56] [615.20]
- The November issue of Car & Driver magazine tests the top speeds of seven high-speed street cars available in the US. The Callaway Top Gun Corvette is fastest at 222.4 MPH. [696.42]
- November 30
- The current issue of Autoweek has an article stating that American musclecars are the new safe haven for cash in view of the recent stock market crash. [615.10]
- (month unknown)
- Ertl/MPC releases the 1/16-scale 1988 Chevrolet Corvette Roadster model #6480. [611.16]
- December 1
- General Motors' use of the name Corvette for toy cars, etc. is registered as a trademark. [146]
- December 24
- Mercury Marine starts the first pre-production prototype LT5 engine. [223.52] [454.172] [585.50]
1988
- January 9
- SCCA and Chevrolet announce a series of ten races of showroom stock 1988 Corvettes to be launched in the spring. A maximum of fifty specially-built identical cars will be made. Total prize money will be US$1 million. [566]
- January 20
- In Cypress Gardens, Florida, the National Corvette Restorers Society holds its Winter Meet, over five days. Ed Mueller introduces the newly restored 1967 Corvette raced by Dick Guldstrand at Le Mans. [132.13] [610.24] [614.80]
- (month unknown)
- A 1967 L88 Corvette sells for US$200,000 in a private sale. [653.88]
- Building of the CERV III No. 3 is completed. [36]
- CERV III (Corvette Indy number 3) is driven for the first time. [168.42]
- February
- Tom McIntyre buys a 427-ci "Mystery Motor" for his 1963 Corvette that was raced by Mickey Thompson. The engine has the correct casting numbers from the original car. [131.85]
- (month unknown)
- Franklin Mint Precision Models releases The Classic Cars of the Fifties, including a 1:43 scale 1957 Corvette with red exterior, white cove, red interior. [705.156]
- March 19
- At the Sebring International Raceway in Sebring, Florida, the 36th Coca-Cola 12 Hours of Sebring race is held.
- Finishing 1st in GTO class and 6th overall is the Protofab Racing #5 Corvette driven by Wally Dallenbach, Jr. and John Jones.
- Finishing 12th in GTO class and 38th overall is the Greg Walker Racing #69 Corvette driven by Greg Walder, Scott Lagasse, and King Smith.
- Placing 15th in GTO class and 50th overall is the Protofab Racing #2 Corvette driven by Greg Pickett, Tommy Riggins. The car is not running at the finish due to engine failure.
[423] [585.100] [705.165]
- April
- At the New York Auto Show, Chevrolet unveils the 1988 35th Anniversary Corvette. [903.105]
- Car and Driver magazine features the 1988 Corvette on the front cover of its May magazine. [707.1]
- (month unknown)
- Rick Cole buys a Corvette Grand Sport (#002?) at auction for US$500,000 for a client. [6] [572.46] [653.92]
- May 1
- At the Dallas Grand Prix in Dallas, Texas, the first round of the SCCA Corvette Challenge race series is held. Finishing 1st is Mark Dismore in the #33 DR Motorsports 1988 Corvette. [18.43] [139] [566] [568.1] [615.60] [813.22]
- May
- Journalist James Schefter asks General Motors' president Robert Stempel if he can follow the Corvette team as they create the next-generation car. His request is granted. (From the experience he writes the book All Corvettes are Red.) [166.51]
- The Atlantic City Corvette Concours D'Elegance is held in Atlantic City, New Jersey. Stan Dzugan's 1967 427/435 coupe restored to perfection wins Best In Show, and collects a US$16,000 prize. [170.33]
- May 28
- At the Sears Point Raceway in California, round two of the SCCA Corvette Challenge race series is held. Finishing 1st is Tommy Archer in the #34 NB Ventures Corvette. [568.1] [569.1] [615.60] [647.136]
- (month unknown)
- The Corvette plant begins assembling Corvettes with RPO Z01. [678.62]
- June 13
- At the Riverside International Raceway in California, Chevrolet gives a full press briefing of the LT5 engine. [223.52] [231.69]
- June
- At Callaway, the financing for project Sledgehammer receives approval, clearing the way for producing a customized Corvette capable of 250 mph. [33.39]
- At Chevrolet, Scott Leon gains approval to test a big block tuned port injected engine in a Corvette. The test car is a 1986 automatic, and is dubbed "Big Dog". [230.77]
- June 18
- At the Portland International Raceway in Portland, Oregon, the fourth round of the SCCA Corvette Challenge race series is held. Finishing 1st is Juan Manuel Fangio II in the Erickson Racing #2 1988 Corvette. [567] [615.60] [647.136]
- June 23
- The Bloomington Gold Corvette show is held, over four days. Over 800 cars and 35,000 people attend. The Special Collection "Earthquake '88" features 52 L-88 Corvettes. [170.4] [212.B8] [615.73]
- (month unknown)
- Dave Ferguson and Mal Winer buy a 1953 Corvette, VIN number 24. It turns out to be the original prototype supercharged Corvette created by McCulloch in early 1954. [221.40]
- Jack Boxstrom buys the No. 50 Corvette raced by John Greenwood in the early 1970s. He initiates a restoration. [214.26]
- Jerry Moore of Houston, Texas, buys a 1967 Corvette with L88 engine for US$325,000. [226.10]
- At a press review for the 1989 model Corvette, General Motors also shows an aluminum-bodied XP-895, a derivative of the mid-engined XP-882 prototype. [84.16]
- Chevrolet sends out new engines to race teams of the SCCA Corvette Challenge race series, calibrated more closely for identical outputs. [624.87]
- The name of the Bloomington Gold Corvette show is changed to Bloomington Gold / Corvettes USA. [131.77]
- The National Corvette Restorers Society forms the National Corvette Museum Foundation. [156.63] [283.56]
- July 13
- The film The Dead Pool is released to theaters in the US. One scene has a radio-controlled scale-model 1960s Sting Ray as part of a car chase. [528.19] [584] [732]
- July 17
- At the Brainerd International Raceway in Brainerd, Minnesota, the fifth round of the SCCA Corvette Challenge race series is held. Finishing 1st is Andy Pilgrim in the #18 Princess Casinos 1988 Corvette. [567] [570] [615.60] [652.120]
- July 28
- The last 1988 model Corvette is built. [453.11]
- (month unknown)
- Due to sponsorship income of only about $500,000, Chevrolet has to put up the additional $500,000 for prize money in the Corvette Challenge series. [540.63]
- August
- The September issue of Motor Trend magazine presents a speed test of ten high-performance regular production cars from North America, Europe, and Japan. The Corvette ranks third (156 MPH) behind the Porsche 928S 4 (165 MPH), and Ferrari Testarossa (175 MPH). [654.44]
- The September issue of Car and Driver magazine compares the Corvette Z51 to the Porsche 911 Club Sport. Overall, the Corvette is rated higher. [560.52] [711.75]
- Steve Hendrickson puts CERV I up for sale. General Motors blocks the auction sale, claiming ownership title to the car. (A court later rules against General Motors.) [11] [42.85]
- (month unknown)
- Juris Mindenbergs races a 1984 Corvette with greater than 501-ci engine at the Bonneville Speed Trials, setting a new record in AA/GT class with a two-way average speed of 266.450 mph. Top speed during the run was 271.044 mph. [231.48] [400.78]
- September
- Car and Driver magazine features the Corvette ZR1 on the front cover of the October issue. [712.1]
- At the Riverside Raceway in California, Chevrolet gives a press launch of the LT5 engine. Mercury Marine engineers assemble an LT5 during the presentation, then successfully start it. [454.172]
- September 25
- At the Mosport Park raceway in Bowmanville, Ontario, Canada, the 9th race of the SCCA Corvette Challenge series is held. Finishing 1st is Stuart Hayner. [453.219] [615.60] [654.112]
- At the Mosport Park raceway in Bowmanville, Ontario, Canada, round 12 of the SCCA Escort Trans-Am Championship is held. Finishing 15th is the Deman Racing #22 Corvette, driven by Peter Deman. [423] [438.31] [654.112]
- (month unknown)
- Callaway Cars completes building the research car dubbed "Sledgehammer", a modified Corvette with a 880-hp 350-ci twin-turbo engine. [214.100]
- October
- The November issue of Motor Trend magazine presents several "top ten" lists:
- Top 10 Performance Cars of 1989, Cost No Object, includes the Corvette ZR1;
- Top 10 Performance Cars of 1989, Cost An Object, includes the Corvette;
- Top Sports Car 2-Seater: Corvette;
- Top 10 Collector Cars includes Corvette;
- Top 10 Vehicles With The Highest Collision Losses: #1 is Corvette convertible.
[655.43]
- MerCruiser builds the first pilot run of 50 LT5 engines. [218.52]
- October 20
- The Callaway Sledgehammer Corvette is taken to the Transportation Research Center in Columbus, Ohio, to see if it can run at 250 mph. [33.40]
- October 26
- The Callaway Sledgehammer Corvette reaches a top speed of 254.76 mph at the Transportation Research Center in Ohio. [17] [33.45] [214.100]
- (month unknown)
- At the end of the IMSA race season, Chevrolet is 4th place in points. The Corvette GTP did not win any races during the year, and the project is scrapped. [518.219]
- November
- At the end of the SCCA Corvette Challenge series, Stuart Hayner finishes first. [453.219] [624.88]
- Exterior color "Gray Metallic" is cancelled from use on 1989 Corvettes. [148.91]
- December
- The January 1989 Car and Driver magazine presents an article about their selections of the Ten Best cars. The current Corvette is one of them. [714.31]
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