NASCAR Team Owner Rick Hendrick Buys the First Chevy Corvette Z06 for $1 Million for Charity

by Chris Haney

Over the weekend, NASCAR team owner Rick Hendrick bid on and won the first retail 2023 Chevrolet Corvette Z06 convertible for $1 million. The milestone automobile went to auction and sold for charity, which usually drives the price tag even higher.

On Saturday, Barrett-Jackson held the charity auction in West Palm Beach, Florida. Following the sale of the Corvette and other cars, General Motors is donating all of the proceeds to the Thurgood Marshall College Fund’s Teacher Quality and Retention Program. The program will use the funds to help support higher education for Black Americans.

The Z06 is a special racing-inspired edition of the classic Corvette. The new model includes a 670-hp V8 engine that makes it the most powerful ride within Chevrolet’s lineup. In addition to the 2023 Chevrolet Corvette Z06, Barrett-Jackson also auctioned off a new Ford Bronco Raptor for $350,000. Each automobile is highly coveted since they are the first of their respective models built.

NASCAR’s Rick Hendrick Is No Stranger to Corvette Auctions

It should come as no surprise that Rick Hendrick took part in the Barrett-Jackson auction. Hendrick’s NASCAR team utilizes Chevrolets in the Cup Series and he frequently makes charitable donations through GM’s auctions. In fact, the chairman and CEO of Hendrick Automotive Group just won another huge auction a few months back.

In January, Rick Hendrick won an auction for the first 2023 Chevrolet Corvette Z06 coupe. His winning bid of $3.6 million set a Barrett-Jackson charity record. All of those proceeds benefitted the nonprofit Operation Homefront, which aid military families. Their mission is to “build strong, stable, and secure military families so that they can thrive in the communities they have worked so hard to protect.”

Additionally, Hendrick bought the rights to the first C8-generation Corvette back in 2020. He paid $3 million for that car at a Barrett-Jackson charity auction in Scottsdale, Arizona. At the time, Rick Hendrick stated, “I am the number one Corvette junkie in the world.” We don’t think anyone’s going to argue with him since he’s spent almost $8 million on rare Corvettes in just the last two years alone.

Further Details on the 2023 Chevrolet Corvette Z06

Later this summer, Chevrolet will start delivering the new Corvette Z06 to customers. Whether drivers bought the coupe or convertible, each body style comes with the new V8 motor – code-named the LT6.

The V8 engine is based on Chevy’s design used in the C8.R endurance racer. The tachometer can fly to a high of 8,600 rpm, and the 670-hp peak power kicks in at 8,400 rpm. Peak torque of 460 lb.-ft. comes in at 6,300 rpm. Further, the only transmission available is an 8-speed dual-clutch automatic that only sends power to the vehicle’s rear wheels.

Chevrolet has not revealed specific performance stats of the car just yet. However, the Corvette’s 0-60 mph time is expected to clock in at 2.6 seconds. As of now, a price point for the 2023 Chevrolet Corvette Z06 has not been officially announced, but it’s expected to start around $90,000.