The 2003 Corvette

The Overview

The Corvette turned fifty in 2003 and Chevrolet marked it the way it had marked 1978 and 1993, with a color: the 50th Anniversary Edition, RPO 1SC, $5,000 on a coupe or convertible, in Anniversary Red Metallic, a burgundy tint-coat, over a Shale interior with embroidered anniversary emblems on the seats and mats, padded door armrests and grips, champagne-painted five-spoke wheels with their own center emblems, anniversary badges front and rear, a Shale top on the convertible, and, underneath, the new Magnetic Selective Ride Control. It was a package rather than a model, built on the 1SB equipment group (HUD, telescoping column, electrochromic mirrors, memory, Twilight Sentinel), and 11,632 buyers took it, 4,085 coupes and 7,547 convertibles, a third of the year. Every 2003 Corvette, Z06 included, wore a silver 50 emblem with the crossed flags at nose and tail, and the convertible that had paced the 2002 Indianapolis 500 in the anniversary colors had been the edition’s public debut a year early.

The year’s engineering was in the shocks. Magnetic Selective Ride Control (RPO F55, $1,695, included in 1SC, not offered on the Z06) replaced F45: Delphi’s monotube dampers filled with magneto-rheological fluid, synthetic oil carrying microscopic iron particles that stiffen in a magnetic field, so a coil in each piston could change damping continuously, up to a thousand times a second, from readings of speed, steering angle, wheel travel, braking, lateral g and temperature, with a console switch for Tour or Sport. Chevrolet had introduced the system on the 2002 Cadillac Seville STS and called it the fastest real-time damping in the industry; it added about 13 pounds, which is one reason the Z06 kept its FE4 springs and conventional shocks. 14,992 coupes and convertibles had it, 3,360 of them without the anniversary package. Fog lamps, sport seats, the power passenger seat and dual-zone air became standard on the coupe and convertible (with the parcel net and luggage shade on the coupe), 1SB shrank to the HUD group at $1,200, the Z51 package gained larger stabilizer bars and a power-steering cooler at $395, the Z06 got a thicker headliner for the new head-impact rules, child-seat hooks went into the passenger seat, Medium Spiral Gray replaced Light Pewter, and the tint-coat paint rose to $750. The LS1 (350 hp) and LS6 (405 hp) were unchanged.

Prices rose to $43,895 for the coupe, $50,370 for the convertible and $51,155 for the Z06, the Z06 now within $800 of the convertible, and the market had company: the new Viper roadster, Nissan’s $26,000 350Z and the Boxster. Production slipped by 298 to 35,469, 12,812 coupes, 14,022 convertibles (the first time the open car outsold the coupe since 1968) and 8,635 Z06s, the Z06’s best year. Corvette Racing took its third straight ALMS manufacturers’ title and finished second and third in GTS at Le Mans behind Prodrive’s Ferrari 550, the No. 50 car of Oliver Gavin, Kelly Collins and Andy Pilgrim leading the No. 53 of Ron Fellows, Johnny O’Connell and Franck Fréon home after 326 laps apiece; a Corvette paced the race, and the C6 spy photographs were already circulating. Today the 2003 Z06 is the second-most-valuable C5 year, $18,750 to $36,200 at auction in 2026 by mileage, the 50th Anniversary cars bring $15,500 to $35,000 with delivery-mileage examples over $40,000, and the ordinary coupes and convertibles trade from $14,000 to $23,000.

The 2003 Corvette Story

The arrival of the 2003 Chevrolet Corvette represented the culmination of fifty years of evolution for General Motors’ flagship automobile. It had been during the spring of 1953 that the first Corvette had been unveiled at GM’s Motorama.

Since that time, it had transformed into an entirely new vision of Corvette with each evolution. “Few vehicles have had the staying power of Corvette” said Rick Baldick, Corvette Brand Manager. “We believe that much of that success comes from a willingness to embrace advancing technology while remaining true to Corvette's glorious history. As we celebrate our golden anniversary in 2003, we honor our past and cast a bright eye toward the future.”

Now, with fifty years behind it, Chevrolet executives were prepared to commemorate the half-century-old sports car through a series of planned events that included the introduction of a Special Edition 2003 C5 Corvette. The “50th Anniversary Special Edition” Corvette package, available only on base coupes and convertibles, consisted of a special metallic-burgundy Anniversary Red exterior with champagne colored wheels and specific “anniversary edition” badging. Complementing the exterior, a shale colored interior was highlighted with embroidered emblems on the seats and floor mats, armrests, and grips. When included as part of the convertible package, the collapsible top also featured the matching shale-color. This option was only available to consumers as part of a preferred equipment group.

RPO 1SC, Preferred Option Group Number 2, included the special paint and trim package, as well as Magnetic Selective Ride Control, along with other options included with RPO 1SB. This option, despite the additional $5,000.00 cost to consumers, was ordered by more than 11,500 customers.

With regards to the aforementioned Selective Ride Control that was included as part of RPO 1SC, consumers wishing to equip their Corvettes with this option could do so without purchasing the costly anniversary package.

Listed as RPO F55, the Magnetic Selective Ride Control suspension was very similar to a system that GM had previously introduced on the 2002 Cadillac STS. The Selective Ride Control system used a unique damper design to govern wheel and body motion by utilizing a “Magneto-Rheological” fluid in each shock absorber. Essentially, this fluid was little more than synthetic oil permeated with millions of tiny iron balls that floated uniformly within the shock fluid. To adjust the level of ride damping, an electrical current was fed into an electromagnetic coil, thereby causing the iron-ball infused oil to change viscosity – allowing the car's ride to almost instantly go from no damping to virtually solid damping.

The F55 Magnetic Selective Ride Control suspension was designed to make more than 1,000 minute adjustments per second. Controlled by a dual-processor computer chip, the suspension utilized the car's speed, steering-wheel angle, wheel travel, braking, lateral acceleration, and outside temperature to adjust the car's ride.

The system was designed to isolate and smooth the ride of each tire to help minimize bouncing, vibration, and noise. As a result, the 2003 Corvette produced a quieter, flatter ride with more responsive and more precise handling, especially during high-speed driving maneuvers.

Working in conjunction with the Active Handling and traction control systems, the magnetic dampers kept the car balanced over a full range of road conditions. The option included a console-mounted switch that let drivers select the ride type – “Tour” for a smoother, more comfortable ride or “Sport” for firmer damping and less body roll.

While most critics agreed that the F55 Ride Control Option did improve overall drivability of the Corvette, the inclusion of the F55 Ride Control System added just over 13 pounds to the car. As a result, the Z06 did not receive this option, as increased weight would result in diminished performance at the rear wheels.

The coupes and convertibles did include a number of equipment options that were now standard when ordering a 2003 Corvette. New Corvette owners could now expect to receive a car that included fog lamps, sport seats, dual-zone auto climate control, and a power passenger seat. The 2003 Corvette coupes also received a standard parcel net and privacy shade for the hatch area.

An interesting addition to the coupe, (given the specific nature of a two-seat sports car) was the introduction of special hooks that were installed on the passenger's seat to facilitate the connection of a specially equipped child seat (an option that was only recommended when used in conjunction with a passenger-side airbag-cutoff switch).

All Corvettes (coupe, convertible, and the Z06) were fitted with special silver 50th Anniversary emblems at the front and rear that featured the number “50” along with the signature Corvette crossed flags logo.

Did you know? In an effort to meet stricter standards for occupant protection, the Z06 Corvette hardtop headliners were made thicker for the 2003 model year. Additionally, the interior area for the A-pillar of all models and the B-pillar in the Coupe/Z06 were modified.

Also, for the 2003 model year, a number of factory features that were previously optional were made standard in coupes and convertibles. These included fog lamps, sport seats, power passenger seats, dual-zone air conditioning, and (in the coupe only) the parcel net and luggage shade.

While the C5 Corvette had certainly earned the respect of automobile enthusiasts around the world, Chevrolet was still faced with some unique challenges for the 2003 model year. For the first time in a generation, a number of genuine automotive competitors had arrived, and each posed a threat that might draw consumers away from Corvette.

Dodge introduced a redesigned Viper Roadster with a robust V-10. While the Viper was considerably more expensive than the Corvette, its $80,000 price tag was not so far out of reach as to discourage prospective Corvette owners from exploring their options. A more serious threat to the Corvette was the arrival of Nissan's all-new V-6 powered 350Z, a car that provided solid, swept-back looks, and 'Vette-like handling starting at just $26,269. Even Porsche's mid-engine Boxster remained a formidable rival at a price-point that continued to match the Corvette Convertible.

Still, despite the competition, the 2003 Corvette still boasted fairly impressive sales numbers, even given the fact that all three iterations of Chevy's sports car saw another price increase for the new model year. For 2003, Chevrolet built 12,812 coupes at $43,895, 14,022 convertibles at $50,370 and 8,635 Z06s at $51,155 (the launch prices had been $43,255, $49,700 and $50,485). In all, 35,469 Corvettes were built for 2003, 298 fewer than in 2002.

Of course, by late 2003, everyone knew that the C5 Corvette was headed for retirement. The automotive press had already flooded the media with design rumors and spy photos of the replacement C6 Corvette.

Still, with more than a year before the arrival of the C6 Corvettes, General Motors continued to rally behind the C5, especially on the race track – and the 2003 C5-R's commemorated the racing season by dominating their field with a third straight manufacturers’ title in the American Le Mans Series and a second-third finish at the 24 Hours of Le Mans that same year. In fact, the C5-R's season-long performance was so strong that one of the only changes made to the 2004 Corvette would be to commemorate the 2003 racing season.

RACING: As Corvette celebrated its 50th Anniversary, the Corvette Racing Teams helped commemorate the special anniversary by placing 2nd and 3rd place at the 24 Hours of Le Mans.

The #50 Corvette C5-R, co-driven by Oliver Gavin, Kelly Collins and Andy Pilgrim completed 326 laps to finish 11th overall and second in the GTS class. Collins and Pilgrim notched their fourth straight podium finish while Gavin took home his second in a Corvette at Le Mans.

The #53 Corvette C5-R, co-driven by Ron Fellows, Johnny O’Connell and Franck Fréon completed 326 laps of the 8.6 mile circuit to finish 12th overall and third in the production-based GTS class. Fellows and O’Connell also co-drove to class victories in 2001 and 2002, while Fréon made his tenth straight Le Mans appearance and his fourth podium finish at La Sarthe with Corvette.

As the Corvette celebrated its 50th anniversary, it was an interesting point of note that the Corvette was one of the longest-lived sports cars in the world. Yet, despite its many iterations and its incredible complexity, Corvette has remained faithful to the pioneers who designed and built it as well as to the owners who have owned and enjoyed driving it for fifty years.

In fact, at its 50th anniversary, the 2003 Corvette continued to share its GRP (fiberglass) body panels and its front-engine, rear-wheel drive layout of the 1953 model. Without question, at fifty, Corvette continued to be the proud legacy of Harley Earl, who envisioned a two-seat roadster a half-century earlier. Yet, as far as the Corvette had evolved since its earliest ancestor, the best was still to come.