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The mid-engine 2020 Chevy Corvette will cost less than $60,000

Chevrolet's long-awaited, mid-engine Corvette will be on heck of a performance bargain.

2020 Chevrolet Corvette
$60,000 for this?! Holy moly.

The mid-engine 2020 Chevrolet Corvette is here, and it looks to be an absolute monster. Turns out it'll be an incredible performance bargain, too.

Following the C8 Corvette's debut on Thursday, General Motors president Mark Reuss said the sports car "will start at less than $60,000" when it goes on sale later this year. That's a modest increase over the current, C7-generation Corvette's $55,900 base price.

Considering what kind of numbers the 2020 Corvette throws down, that $60,000-ish starting price feels like one hell of a good deal. The mid-engine Corvette uses a 6.2-liter, naturally aspirated V8 engine, with 490 horsepower and 465 pound-feet of torque, or 495 hp and 470 lb-ft if you opt for the Z51 performance package. Power is routed to the rear wheels via an eight-speed, dual-clutch automatic transmission, and Chevy estimates the Corvette will be able to accelerate to 60 mph in less than 3 seconds. Holy smokes.

"Where else can you get a supercar that goes 0 to 60 in less than 3 seconds for this kind of money?" Reuss said.

The 2020 Corvette will be produced at Chevy's plant in Bowling Green, Kentucky, and will go on sale near the end of 2019.

Now playing: Watch this: 2020 Chevy Corvette: First look at the mid-engined wonder

Originally published July 18.