1978 Chevrolet Corvette Limited Edition Pace Car L82

Description

Shortly after producing the 500,000th Corvette on 15 March 1977, Chevrolet prepared to celebrate the model’s 25th anniversary the following year. The new 1978 models were given the first major design revision in 10 years, which included a new fastback body and rounded glass rear window, but then the Corvette was chosen to pace that year’s Indianapolis 500. To commemorate the honor, a “Limited Edition” collector's edition Corvette — often referred to as the “Pace Car Edition” — was produced with black-over-silver livery and special decals with a gray leather interior. 

More than just cosmetics, the car featured a more desirable L82 350 cubic-inch V8 and numerous options as standard. Chevrolet originally intended to build only 300 of these Limited Editions for 1978, but so many enthusiasts began asking for them that GM altered its plans and produced enough (6,502) so that every Chevrolet dealer across the U.S. and Canada had one to sell. 

This ’78 Corvette pace car is equipped with an M21 four-speed manual (close ratio) transmission, found in only 7.24 percent of 1978 Corvettes. It also has "Indianapolis Motor Speedway" decals on its rear fenders but does not wear the dealer-added red and white “Official Pace Car” side decals, but they are included in the sale. 

Highlights 

• 1 of 6,502 1978 Chevrolet Corvette Limited “Pace Car” Editions  

• Powered by an L82 350 cu-in V8 engine generating 220 hp and 260 lb-ft of torque  

• M21 four-speed manual transmission, found in only 7.24 percent of 1978 Corvettes 

• All 1978 Pace Car Editions received: 

  • Black/Silver Metallic paint with Pace Car decals and red pinstriping  

  • Front air deflector and rear spoiler 

  • Silver/Smoke leather interior with color-coordinated door panels, dash trim, and carpet  

  • Power windows and power door locks 

  • Removable glass roof panels 

  • Rear window defogger 

  • Four-season air conditioning 

  • Sport mirrors 

  • Tilt-telescopic steering column 

  • Special lumbar support seats 

  • Heavy duty battery 

  • AM/FM radio/stereo with power antenna and dual rear speakers 

  • Aluminum wheels with red accents 

  • Convenience Group 

• The chassis number (1Z8748S904818) decodes as: 

  • 1 – USA  

  • Z – Corvette  

  • 87 – Two-door coupe  

  • 4 – L82 V8 engine  

  • 8 – 1978 model year  

  • S – St. Louis, Missouri, assembly plant  

  • 904818 – Sequential production number (9 indicates “Pace Car Edition”) 

Features 

• Service performed since 2021 (approximately $10,000): 

  • New water pump 

  • New aluminum radiator and hoses 

  • New rubber on doors and T-tops 

  • Rear suspension rebuilt 

  • New rear spring and mount bolt kit 

  • New trailing arm and bolt kit 

  • Front and rear alignment 

  • New rear shocks 

  • New parking brake cable set 

  • Rebuilt drive shaft and half shaft 

  • New rear brake calipers  

  • New OEM dual master cylinder 

  • Transmission resealed 

• Leather-wrapped tilt/telescope three-spoke steering wheel with 25th Anniversary center badge  

• Remote-operated mirrors  

• 140 mph speedometer and 7000 rpm tachometer  

• Kenwood AM/FM/Cassette 

• 15-inch aluminum wheels 

• Cooper Cobra Radial G/T P255/60R15 tires (2020) 

• This car does not wear the dealer-added red and white “Official Pace Car” decals, but they are in a protective tube and are included in the sale 

Known Imperfections 

• A/C and power locks are not operational 

• Small chip at top of driver’s window 

• Passenger side visor does not turn 

• Minor paint imperfections 

• Small amount of oil drip underneath 

Included 

• Original body decal kit 

• Spare tire mounted on underside 

• 1978 Corvette owner’s manual 

• New A/C Blower Motor Resistor in box 

• New heating/air conditioning/fan controls for installation 

• Miniature pace car model 

• Corvette blanket 

• Corvette jacket (size Medium) 

Ownership History 

The Ohio seller of this 1978 Chevrolet Corvette Indy Pace Car says it was her father-in-law's “dream car.” It has been in the family since January 2000. She took ownership in September 2019 and has been making improvements and “enjoying summertime drives on nice weekends.”