The last of the straight axle Corvettes was the first to offer a Chevy 327 cid small block V8. It was offered in three forms, with the top reserved for a special race package, called “Sebring.” Due to the racing ban of 1957, Chevrolet was not allowed to support factory racing. Because of this, the “grandfather” of the Corvette, Zora Arkus-Duntoz slipped in several serious racing parts on to the Corvette options list. The Corvette was a true sports car, as power steering, power brakes, and air condition were not available. Performance buyers, however, could order hot “Duntov” camshafts, thermo-activated cooling fans, and aluminum-cased transmissions. Also available was a special racing package, called “Sebring.” Available options on the Sebring included 15×5.5 inch wheels (no charge), a direct-flow exhaust system (no charge), a 24-gallon fuel tank ($118.40), four-speed gearbox ($188.30), Posi-Traction rear axle ($43.05), sintered metallic brake linings ($37.70), and a heavy-duty suspension ($333.60). The most desired option was the 327 V8 “fuelie” rated at a whooping 370 bhp which cost $484.20. With a low 3,080 pound curb weight, a 327/380 equipped Corvette had a power-weight of just 8.6 lbs per horsepower, the lowest ratio ever, up to that point. This combination was good for 0-60 in just 5.9 seconds and run the quarter mile in 14.9 seconds. Exterior styling changes included de-emphasized bodyside cove sculpture and a blacked-out grille.
327 V8 250 bhp @ 4400 rpm, 350 lb-ft @ 2800 rpm.
327 V8 300 bhp @ 5000 rpm, 360 lb-ft @ 3200 rpm.
327 V8 340 bhp @ 6000 rpm, 344 lb-ft @ 4000 rpm.
327 (“fuelie”) V8 360 bhp @ 6000 rpm, 352 lb-ft @ 4000 rpm.