When General Motors’ (GM) Chevy launched the 2020 Corvette Stingray C8 in mid-July, it said the sports car would be priced under $60,000 but would not give specifics on the cost. True to its word, the automaker has released the retail price of the C8, coming in just under that $60,000 estimate.

The starting price of the 1LT model is listed at $59,995, which includes the destination freight charge of $1,095, according to Chevy. The 2LT and 3LT trim packages of the C8 will cost buyers $67,295 and $71,945, respectively with both prices including the destination freight charge.

“Most people thought when we moved the Corvette to mid-engine it would no longer be attainable, but we knew we couldn’t mess with a winning formula and the 2020 Stingray proves it,” Brian Sweeney, Chevrolet U.S. vice president said in a statement.

The C8 is the newest addition to Chevy’s Corvette line, featuring a 490 to 495 horsepower engine that has been mid-mounted behind the passenger. The V8 engine offers a 6.2-liter displacement and 470 pounds per feet of torque. It is paired with an eight-speed, dual-clutch automatic transmission.

“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 V-8 and engine-mounted dry sump oil system are all standard,” Tadge Juechter, Corvette executive chief engineer said.

Car enthusiasts can still preorder the C8, which will go into production at GM’s Bowling Green Assembly plant in Kentucky in late 2019. To view, the Corvette C8 before buying, consumers can visit one of Chevy’s touring stops that are taking place at dealers now.

The C8 will be available in early 2020, according to Chevy.

Shares of GM stock were down 2.66 percent as of 2:02 p.m. ET on Thursday.

C8 Corvette
The 2020 mid-engine C8 Corvette Stingray by General Motors was unveiled during a news conference on July 18, 2019 in Tustin, California. Getty Images/Kevork Djansezian
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