Being chosen to pace the Indy 500 is not just about race officials awarding the distinction to a shiny new car; it’s also choosing one that can handle the pace car duties. It is an honor for a specific model to be picked to pace, with the Corvette being chosen a record 22 times. The first time the Corvette was chosen as the official pace car for America’s greatest race was in 1978. Chevrolet celebrated this accomplishment by building a special Pace Car Edition of America’s sports car. Currently listed for sale on AutoHunter is this one of these cars, a 1978 Chevrolet Corvette Indy 500 Pace Car Edition.
The 1978 Corvette was special in a number or ways. This C3 Corvette featured a new fastback-style rear window treatment similar to the old C2 coupe. In addition, the 1978 model featured a revised interior and increased performance. The year 1978 also marked the 25th anniversary of the Corvette as a model. By the time the year was over, the ’78 Corvette had become the most popular C3 at 46,776 built, with 6,502 Pace Car Editions among them — one for every Chevy dealership.
The seller describes this example as being powered by a 350ci V-8 mated to a three-speed automatic transmission. It is estimated to be one of only 2,384 Pace Car Editions equipped with the high-output L82 engine and automatic. Finished in Tuxedo Black and Silver Metallic two-tone with red accents over a silver leather interior, this limited-production C3 is now offered by the selling dealer with a clear title.
This ‘Vette looks to be in what I would call very nice driver-quality condition. The two-tone paint with red pinstripes looks as good as it did when the car was new. The only exterior flaw noted is that the passenger-side T-top is cracked. I would replace it with an uncracked one and call it perfect. The car is equipped with factory-correct 15-inch eight-slot cast aluminum wheels with red pinstripes to match the paint scheme; mounted on them are 255/60 Goodyear Eagle GT+4 white-letter tires.
The interior features silver leather bucket seats and a matching leather-wrapped steering wheel. The seller states there is some wear on the driver’s seat and the driver’s-side door card, both of which can be easily fixed with correct replacements from one of the many Corvette parts suppliers. Options include a tilt/telescopic steering column, air conditioning, power windows, power locks, and cruise control. The factory radio has been replaced with a JVC AM/FM/CD head unit that also features satellite radio connectivity. Mileage on the odometer is 69,573, which the seller states is the true mileage on this car.
Under the hood is the factory-correct 220-horsepower L82 V-8 with a four-barrel carburetor and HEI distributor, along with factory-correct 1978 L82 aluminum valve covers and air cleaner assembly. The seller does note that the original L82 has been replaced with the one currently in the car.
The underside of this car also looks to be in good shape, with no signs of rust or damage. This is what the underside of a well-cared-for 48-year-old Corvette with just under 70,000 miles should look like.
When new, the 1978 L82-powered Corvette was the fastest American car you could buy. It also did well against European cars in comparison tests, often out-handling them and offering an ease of service the Europeans lacked. Sure, they were not as finely crafted, but these C3 Corvettes remain among the best-looking cars of the era. They are fun to drive and easy to maintain, with some of the best parts support of any single model automobile. If the subject of our AutoHunter Spotlight is starting to sound like a car you may want to add to your garage, then I would advise making a bid or three soon, as the auction for this 1978 Chevrolet Corvette Indy 500 Pace Car Edition ends on Tuesday, June 23, 2026, at 11:30 a.m. (PDT).
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