GM President Mark Reuss helps unveil the 2020 Chevrolet Corvette.

When GM President Mark Reuss introduced the new mid-engined 2020 Chevrolet Corvette Stingray, he wrapped up the presentation by saying the new beast would come in “under $60,000,” but he wouldn’t specify exactly how much.

Now we know how much — not much. The new Stingray comes in at $59,995, including Destination Freight Charge of $1,095, excluding tax, title, license, dealer fees and optional equipment.

“Most people thought when we moved the Corvette to mid-engine it would no longer be attainable, but we knew we couldn’t mess with a winning formula and the 2020 Stingray proves it,” said Brian Sweeney, Chevrolet U.S. vice president.

(Chevy Offers Sneak Peek at Corvette Stingray Convertible, C8.R Racer)

What does one get for $59,995? Well, for starters a top speed of 194 mph. The base model is powered by a 6.2-liter V8 engine producing 490 horsepower and 465 pound-feet of torque routed through an eight-speed dual clutch transmission.

If that kind of power isn’t enough, there is an optional performance exhaust package for $1,195. It uses the same powertrain but it squeezes out 495 hp and 470 lb-ft.

The price goes up as buyers run up the trim packages. The 2LT trim package starts at $67,295 and the top-level 3LT trim package comes in at $71,945. Plus, there is an optional Z51 performance package that remains.

The Z51 Performance Package price is unchanged at $5,000 and takes any trim level of Corvette to new heights. The package launches the new mid-engine Stingray from 0-60 mph in fewer than 3 seconds, nearly a second faster than the 2019 Corvette Stingray, the company notes.

Owners will feel like its the best Corvette they’ve ever driven, officials said. It may be the fastest base ever topping out at 194 mph.

(A Corvette Q&A with GM Pres. Mark Reuss. Click Here for our exclusive interview.)

However, it does lose something on the top end as the Z51-equipped Corvette C8 tops out at just 184 mph. The loss of 10 mph comes with the Z51’s extra 400 pounds of downforce, suspension and brake upgrades and Michelin Pilot Sport.

“We’ve packed a lot of performance into the Corvette Stingray at this price when you consider an eight-speed dual clutch transmission, Small Block V-8 and engine-mounted dry sump oil system are all standard,” said Tadge Juechter, Corvette executive chief engineer.

The new flagship comes with an optional front suspension lift system that can store up to 1,000 locations for automatic activation. The system will be available on 2LT and 3LT trim packages for $1,495.

A dedicated Chevrolet Corvette Concierge team will provide 2020 Corvette customers with answers about the vehicle discovery, buying and ownership process. The team, which is based at General Motors headquarters in Detroit, can be reached by calling 866-424-3892.

(This Changes Everything – or So GM is Promising with the Debut of the 2020 Corvette Stingray)

Customers can also live chat with a Corvette Concierge online by visiting Chevrolet.com. The team is available from 9 a.m. to 9 p.m. EDT Mondays through Fridays.