WARREN, Mich., Jan. 5 /PRNewswire/ -- The all-new Chevrolet Corvette earned the prestigious 1998 North American Car of the Year Award, today, from an independent group of 48 journalists at Detroit's North American International Auto Show.

Corvette won the top honor in a very competitive field of 24 passenger cars selected by the journalists for the fifth annual competition.

"This award caps a terrific year for Corvette that began, appropriately enough, at last year's Detroit show when we unveiled the fifth generation Corvette coupe," said John G. Middlebrook, Chevrolet general manager. "We've gotten several awards with the new Corvette but this one is especially gratifying because it comes from a very diverse group of very demanding media."

The 1998 award is for both the Corvette coupe and convertible models. The fifth generation coupe made its public debut during the '97 model year, with a stunning convertible version added to the lineup in 1998. The legendary topless sports car adds more than $1,300 worth of premium standard equipment, yet is priced $635 less than the 1996 convertible, the most recent year that the convertible version was offered.

The 1998 Corvette coupe MSRP is $38,060 (including DFC), and has more than $1,200 worth of premium standard equipment, yet is only $270 more than the 1996 model ($37,790 MSRP).

"Corvette's value and prestige is due to the efforts of people throughout Chevrolet and General Motors," said Dick Almond, Corvette brand manager. "The folks at GM's Midsize - Luxury Car Group and GM Powertrain also deserve to be recognized for their long hours in developing the latest iteration of America's most famous sports car."

"They dedicate themselves to continually improving the Corvette," said Almond. "The most recent refinement is Corvette's optional Active Handling chassis control system."

Corvette's Active Handling system features a unique blend of sensors that are capable of reading steering inputs, vehicle yaw rate and lateral g force, then activating the vehicle's brakes on a selective basis to help stabilize the car in emergency maneuvers.

The system will be featured on the Corvette that pro golfer Greg Norman will use to pace the Indianapolis 500 this spring.

The Corvette team, however, is not resting. It has been working diligently on another version of the current Corvette for introduction later this year.

All fifth generation Corvettes include a new 5.7-liter small block V8 engine that delivers 345 horsepower and 350 lbs.-ft. of torque, more interior space with improved ergonomics, and new exterior styling that echoes the past and announces the future. In short -- the best 'Vette yet. SOURCE Chevrolet Motor Division