FEATURE – 1998 Chevrolet Corvette coupe
Words: Mike Ryan
Photos: Peter Leahy Custom Imports
When does a car cross the threshold from being just “used” or “old” to being “classic”? You can put a number on it, but it doesn’t apply equally to all cars from a certain period. For example, cars from a few years either side of the year 2000 are currently in a grey area when it comes to status and appreciation – not quite classic and not quite new, either. That in turn makes for some relative bargains, like the fifth generation ‘C5’ Corvette.
The C5 Corvette’s path to market was a torturous one, marked by constant delays to the launch date, changes within management and the Corvette design team, plus GM financial losses in the early ‘90s that ran into the billions. The fifth generation was originally to be launched as a 1993 model in order to coincide with the Corvette’s 40th Anniversary, but soon after preliminary design work began in 1988, it became clear this goal couldn’t be met. A final design wasn’t signed off until 1992, with engineering development only getting the green light in mid-1993. That meant the launch was pushed back to 1994, then ’95 and ultimately to 1997.
A New Approach
Part of the delay in the C5 Corvette’s introduction can also be put down to the approach taken by the engineering team. Yes, it was still a two-seater, yes it still had a fibreglass body and yes, it was still a front-engined V8 with rear-wheel drive, but so much of this next evolution of the Corvette was new.
For starters, the perimeter frame was changed to a backbone type and the transmission was moved to the rear axle to even out front:rear weight distribution. Also, the 350 Small Block V8 that had been a Corvette staple since the late 1960s was replaced with the first of the ‘LS’ V8s. While of the same 350ci (5.7-litre) displacement, this was an all-new engine, sharing virtually nothing with the ‘LT’ engines from the C4 Corvette.
Additionally, advancements in construction meant the C5 Corvette featured 1,500 fewer parts than the C4 it would replace and was around 200 pounds (90+kg) lighter, even in convertible form.
An interesting sidenote on the C5 Corvette’s development is that hot weather testing, using disguised prototypes, was conducted here in Australia, so if you saw an odd fleet of cars running around the outback in the mid-90s, you may have been seeing C5 ‘Vettes!
While the new Corvette eventually came to market as a 1997 model, it was only available as a targa-roofed coupe that year. A true convertible wouldn’t be available until 1998, with a fixed-roof hardtop added in 1999, marking the first time a Corvette was offered with three body styles.
No Major Update for ‘98
As the 1997 Corvette was so new, there was very little changed for the 1998 model, beyond the aforementioned addition of the convertible body style. The LS1 V8, producing 345hp and 350lb/ft (257kW and 474Nm) carried over, as did the standard four-speed automatic transaxle, with a six-speed manual optional.
New options for ’98 included thin-spoke magnesium wheels, a two-piece removable roof panel and the ‘Active Handling System’ that used a set of sensors to activate the ABS and Traction Control to optimise the car’s stability.
There was also an Indy Pace Car Replica option, available on the coupe and convertible, that offered the same graphics and lairy purple and yellow paint as the Corvette that paced the Indianapolis 500 in 1998.
Colour options from 1997 carried over for ‘98, with two new additions – Light Pewter metallic and Medium Purple Pearl metallic. The former proved quite popular, but Torch Red, Black and Sebring Silver metallic were still the favourites with buyers. One of the rarer colours was Light Carmine Red metallic, as shown on the car featured and only offered for the 1997 and 1998 model years.
Fresh Arrival
Available through Peter Leahy Custom Imports in Queensland, this 1998 Corvette coupe had completed its compliance process a bit over two months ago at time of writing. For Queensland, that means adding amber indicator lenses, ensuring seat belts meet safety standards and other checks for general roadworthiness.
Being outside the 25-year window requiring RHD conversion for registration (just) means this Corvette can remain in left-hand drive. A Southern California car, the 130,500 miles (209,000km) on the odometer is believed genuine and equates to around 5,000 miles (8,000km) per year.
Fitted with the standard aluminium alloys as imported, Peter has added a set of genuine C5 chromed wheels since and can supply both sets to this car’s buyer (see breakout).
There are no modifications from factory spec and the Light Carmine Red paint presents exceptionally well, suggesting this car spent a lot of time cared for undercover rather than exposed to the California sun. Peter adds that Light Carmine Red Corvettes like this one also received a painted and lined roof panel, rather than the tinted perspex panel that other colours got.
Affordable Style
As mentioned at the top of this article, the status of some late ’90s-early ’00s cars means they’re not fully appreciated yet, in turn making them quite affordable – for now. Most of the C5 Corvettes that Peter’s bringing in are around the $40,000 mark or less, which is a bargain for a car that is still quite modern and, in this instance, offers plenty of performance and style.
If a coupe in Light Carmine Red like this one isn’t to your liking, Peter has convertibles and other colours available, with new stock coming in regularly. If you have a specific Corvette colour and body style in mind, contact Peter and he should be able to track it down for you through his USA connections.
Corvettes are one of those cars that every enthusiast should own at one point in their life and now is a good time to add a C5 ‘Vette to your life.
FOR SALE
This 1998 Corvette coupe is a recent import and has been mod plated for registration in Queensland (intestate buyers should check the requirements for registering a car like this in their state before purchasing).
Mileage of just over 209,000km is reflected in the very good overall condition of the exterior and interior, including the rich red paint and black leather seat trim.
Standard C5 Corvette features, like the power steering, power windows and air conditioning, all work, with no repairs needed.
Asking price for this car is $39,950.
For more details, contact Peter Leahy Custom Imports on (07) 5537 5288.
