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Chevrolet Corvette: Which Should You Buy, 2023 or 2024?

chevrolet-corvette-e-ray-2024-exterior-oem-20 2024 Chevrolet Corvette E-Ray | Manufacturer image

Most significant changes: The first hybrid Corvette, called the E-Ray, arrives for the 2024 model year.

The eighth-generation Chevrolet Corvette created a huge splash when it arrived for the 2020 model year with a mid-engine layout and supercar exterior. Since then, the Corvette has gotten a steady stream of improvements and a 70th Anniversary Edition. Making headlines for the 2024 model year is the Corvette E-Ray, the first-ever hybrid and all-wheel-drive Corvette. It also happens to be the quickest of the current lineup, with an estimated 0-60 mph time of 2.5 seconds.

Related: Up Close With the 2024 Chevrolet Corvette E-Ray: Breaking With Tradition (Again)

Chevrolet hasn’t ignored the rest of the Corvette lineup, however. For an added visual kick, the Corvette has new interior and exterior colors, updated alloy wheel designs and more racing-stripe choices. A power-operated rear engine cover has also been added to the 2024 Corvette.

Shop the 2023 Chevrolet Corvette near you

Used
2023 Chevrolet Corvette Stingray w/3LT
1,420 mi.
$85,750 $2,250 price drop
Used
2023 Chevrolet Corvette Stingray w/3LT
4,588 mi.
$92,786 $1,639 price drop

2024 Trim Levels

The 2024 Corvette family tree can be divided into three main branches: Stingray, E-Ray and Z06. All three are available as a hardtop coupe with removable panels or as a convertible with a power-folding hard top. The standard Stingray has three trim levels: 1LT, 2LT and 3LT. The same general structure applies to the E-Ray and Z06 — each has three trims labeled 1LZ, 2LZ and 3LZ.

Powertrain Specs and MPG

chevrolet-corvette-z06-2023-interior-oem-01 2023 Chevrolet Corvette Z06 | Manufacturer image

Every version of the 2024 Corvette has more than enough power, though some are a little wilder in how they scorch down the road and blast around corners.

Under the standard Stingray’s hood is a 6.2-liter V-8 engine that sends 490 horsepower to the rear wheels via an eight-speed dual-clutch automatic transmission. (Sorry, fans of manuals, the 2024 Corvette is still strictly an automatic-only driving proposition.) In terms of fuel economy, it’s better than you might imagine given the Corvette’s high degree of performance: The Stingray returns an EPA-rated 16/25/19 mpg city/highway/combined with premium fuel.

Motivating the new E-Ray is a 495-hp, 6.2-liter V-8 coupled to a 160-hp electric motor mounted at the front axle; it has standard all-wheel drive, and maximum total output is 655 hp. The E-Ray is capable of running purely on electric power, though only for a handful of miles. Official EPA ratings for the Corvette E-Ray are 16/24/19 mpg — nearly equal to the standard Stingray despite the fact the E-Ray has an additional 165 hp and AWD.

The Z06 sits atop the range in terms of horsepower; its 5.5-liter V-8 churns out 670 hp. It’s also the thirstiest at 12/21/15 mpg. Adding the optional Carbon Aero Package delivers extra ground-hugging grip thanks to a large front splitter and rear wing; fuel economy for this track-bred beast comes in at 12/19/14 mpg.

Tech Features

chevrolet-corvette-stingray-2024-interior-oem-02 2024 Chevrolet Corvette Stingray | Manufacturer image

Newly standard for the 2024 model year is a digital rearview mirror, and the Performance Data Recorder is now available on the Stingray’s 1LT trim level. Also standard on the Corvette is an 8-inch touchscreen, wireless Apple CarPlay and Android Auto, two USB ports, satellite radio, Bluetooth, a Wi-Fi hot spot and Bose 10-speaker audio system. These tech items are carryovers from the 2023 model year.

As before, notable options include a wireless charging pad, navigation, a digital gauge cluster, dual-zone climate control, head-up display, heated and ventilated seats, and a 14-speaker Bose stereo. Considering it commands a six-figure asking price, some of these features are standard on the Z06, as well as on the E-Ray.

Safety and Driver-Assistance Features

Previously, the 2023 Corvette’s standard driver aids consisted of only a rearview camera and rear parking sensors. The 2024 model boosts this considerably thanks to a newly added suite of safety items consisting of features such as forward collision warning, lane departure steering assist, and automatic emergency braking with pedestrian and cyclist detection. Additional safety features like blind spot warning and rear cross-traffic alert are standard beginning with the 2LT and 2LZ trims.

Pricing for 2024

chevrolet-corvette-z06-2023-002-coupe-exterior-orange-rear-angle 2023 Chevrolet Corvette Z06 | Manufacturer image

The 2024 Chevrolet Corvette is on sale now and has a starting price of $69,995 (including a $1,695 destination charge, up $300 from 2023). Sun-loving Corvette fans take note, as the convertible still adds a sizable $7,000 to the price. Additionally, the Z06 is subject to an additional gas guzzler tax of $2,600 (unchanged from 2023). The prices for 2024 models by trim level are listed below, with the change from 2023 in parentheses where applicable.

Corvette Stingray

  • 1LT: $69,995 (up $4,100)
  • 2LT: $77,095 (up $3,900)
  • 3LT: $81,745 (up $3,900)

Corvette E-Ray

  • 1LZ: $106,595
  • 2LZ: $112,095
  • 3LZ: $117,545

Corvette Z06

  • 1LZ: $114,395 (up $5,100)
  • 2LZ: $123,295 (up $4,800)
  • 3LZ: $127,945 (up $4,800)

Which Should You Buy?

Car shoppers considering a Chevrolet Corvette probably aren’t too concerned about keeping to a strict budget, but it’s worth noting prices for the entire 2024 Corvette range have risen considerably. The base price of a 2023 Corvette Stingray is approximately $4,000 less than the equivalent 2024 model; that’s a big difference even for a racy two-seat sports car.

On the other hand, the Corvette now comes with a much wider array of standard safety features. There’s also the history-making E-Ray, which is both the first hybrid and first AWD Corvette in the car’s seven decades of existence.

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