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The big news for 1986 was that a Corvette would pace the Indy 500 for the second time. Retired General Chuck Yeager was enjoying celebrity status as a result of the book and movie, “The Right Stuff.” But Chevrolet was still smarting from the heavy criticism over the ‘78 Corvette Pace Car debacle and decided that all 1986 Corvette convertibles were designated as “Pace Car Replica”.
While not exactly a "collector's edition" Corvette in its own right, it nonetheless has become a uniquely identifiable and collectible Corvette from the fourth-generation era. 1988 marked the 35th anniversary for Corvette, and so it was decided that Chevrolet should commemorate the milestone by introducing an anniversary-edition model. This anniversary car was the first of its kind in a decade, given that Chevrolet opted not to manufacture a Corvette in 1983.