Performance Cars

Chevy will auction off the final C7 Corvette for charity in June

The eighth-gen Corvette will make its debut in July.

Out with the old, in with the new.

Chevrolet

On Thursday, Chevrolet finally stopped pretending the forthcoming midengine Corvette didn't exist, and it also announced the car's debut date. But what of the current-generatoion 'Vette? Well, the last one will likely end up selling for way above its market price -- but don't worry, because it's for a good cause.

Chevrolet announced this week that it will auction off the final seventh-gen Corvette. The auction will be part of the Barrett-Jackson Northeast auction taking place in Connecticut on June 28. The final C7 Corvette off the line will be a black Z06, powered by a 650-horsepower supercharged V8. That's a heck of a sendoff.

Before you ask, no, Mary Barra isn't going to make a bed of cash from the proceeds of the auction. Instead, every dollar of the hammer price will go to charity -- specifically, the Stephen Siller Tunnel to Towers Foundation, which builds "mortgage-free, accessible smart homes for the most catastrophically injured service members," according to Chevy's release, in addition to "[paying] off the mortgages for families of first responders killed in the line of duty."

GM and this foundation have a long history. The automaker has helped the group raise over $10 million dollars in the past five years. Last year, it raised $2.2 million dollars for the foundation, almost half of which came from the charity auction for the first 2019 Corvette ZR1.

It may still seem like a fever dream, but yes, the midengined Corvette is finally here… almost. Chevy has finally acknowledged its existence -- the automaker only calls it the Next Generation Corvette at the moment, but the camouflaged body shape all but gives away its MR layout. We're still not sure what to expect under the engine cover, but there's probably a V8 in the cards at the very least. We'll know for sure in July.