The Detroit Children’s Fund, a nonprofit focused on high-potential investments to provide Detroit school children the opportunity to receive an excellent education, will be able to invest an additional $3 million in their mission thanks to the auction of the first 2020 Chevrolet Corvette Stingray.
The history-making VIN #0001 of the first mid-engine Corvette – a black-on-black 3LT with the Z51 performance package – crossed the block at the 49th Annual Barrett-Jackson Scottsdale Auction just weeks before the Corvette begins shipping to Chevrolet dealers.
“Reaction to the mid-engine Corvette has been extraordinary,” said Mary Barra, GM Chairman and CEO, who was on-hand at the auction. “It’s both humbling and exciting to harness that success and provide the proceeds to the Detroit Children’s Fund.”
The Detroit Children’s Fund will use the proceeds from the auction to fund comprehensive school interventions that result in academic success for kids. These interventions help great schools grow, underperforming schools improve and new schools thrive. And because great schools require strong leadership and well-trained teachers, DCF will also use the funds to recruit, develop and retain leadership and teacher talent.
“All children deserve great schools,” said Jack Elsey, DCF’s executive director. “The proceeds from this auction will help improve public education in Detroit and, as a result, give thousands of young Detroiters a brighter future. We cannot thank General Motors enough for their commitment to DCF and the children of Detroit.”
The winning bid was placed by Rick Hendrick, founder and CEO of Hendrick Companies.
“I am the number one Corvette junkie in the world,” said Hendrick. “Thanks to Chevrolet and Barrett-Jackson, because they always pick charities that are so good and help so many people.”
Corvette coupe production will begin at GM’s Bowling Green Assembly Plant in Kentucky in early February, with customer deliveries slated to begin before the end of February.
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