The 1957 Chevrolet Corvette SS Project XP-64 is a significant piece of Corvette history that will be auctioned off in February for an estimated $5 million to $7 million. This car is considered the first purpose-built General Motors race car and played a crucial role in the development of the Corvette as a true performance car.
The XP-64 was a collaborative effort between Corvette chief engineer Zora Arkus-Duntov and GM design boss Harley Earl, who wanted to create a bespoke racing version of the Corvette to compete against European automakers. The car was designed from scratch, with a lightweight chrome-moly tubular frame, magnesium bodywork, and a 283-cubic-inch V-8 engine with experimental fuel-injection system.
Two XP-64 cars were built, including a fully finished version and a rougher development mule. The car made its competition debut at the 1957 12 Hours of Sebring, but retired with mechanical problems after just 23 laps. Although the project was eventually suspended due to a voluntary halt of factory-backed racing efforts by GM and other major U.S. automakers, the XP-64 had already made an impact on the development of the Corvette.
The car up for auction was used by GM for promotional purposes and was later given to the Indianapolis Motor Speedway Museum. The museum is now looking to focus its collection on Indy-related cars, which is why the XP-64 is being auctioned off. Other high-profile cars that have already been sold by the museum include a Ferrari 250 LM, a 1954 Mercedes-Benz W196, and a Ford GT40 Mk II.