1997 finally introduced the C5, the original plans called for the introduction in 1993. Due to financial and management decisions the new Corvette was delayed again and again. During the development of the car a writer documented it's progress, the book he wrote is called "All Corvettes are Red" and is a fascinating story. This new Corvette is the first to use almost all new components, even the first Corvette used many components from other cars. The C5 is faster (345 hp), lighter (68 lbs less than 1996), stiffer (4.5 times stiffer!) and quieter than the previous versions. The front/rear weight ratio is balanced at a near perfect 51.4/48.61. The new LS1 engine produces 345 horsepower and 350 lb-ft of torque. Only one model, the coupe, was available in 1997 and production was started late so only 9,752 were built. VIN numbers this year include prototype and pilot cars so VIN serial numbers do not match production. A very unique floor system was created using balsa wood sandwiched in plastic. The combination of these materials provides rigidity, strength and noise isolation to make this Vette the stiffest and quietest yet. Using 1500 less parts than the C4, production was easier and less parts to rattle. The new shape was wind tunnel tested until it was down to 0.29 coefficient of drag, allowing for better performance, mileage and top speed. The C5 Vette also gets good enough gas mileage to avoid the gas guzzler tax that most other high performance sports cars must pay. The instrument panel features blacklight analog gauges and a "Driver Information Center" (DIC) to allow configruation of the car. The DIC also allows engine service codes to be read without the need for a diagnostic computer. The frame of the car uses a process called hydroforming to perfectly form the 14 foot long side rails. The new side rails give the car it's rigidity and also allow easier entry and exit because the driver and passenger do not need to step over the frame to get into the car. This is the first Corvette with the transmission in the rear (trans-axle). This is what allows for the almost perfect weight ratio. The standard wheels on the 1997 C5 are affectionately known as "Wagon Wheel" for their large spokes.

The "Vehicle Identification Number" (also VIN or serial number) is stamped on a plate on the lower edge of driver's side windshield.

1997 Corvette engines have the last six digits of the VIN stamped on the block after the engine number. The date code the engine was manufactured was also cast into the block. The engine serial number includes a production sequence number starting with 0001001 and one of the suffixes below.

Interior options for exterior colors are suggested by Chevrolet. Other combinations could be ordered.