New mid-engine Corvette starts under $60,000

GM President Mark Reuss says the new 2020 version of the Chevrolet Corvette will start under $60,000, 7% more than the current car's base price of $55,900.

Prices of other versions weren't announced but the current Corvette can run well over $100,000 with options. That's still thousands cheaper than most European competitors.

General Motors unveiled the new car Thursday night at a glitzy ceremony in a World War II dirigible hangar in Orange County, California.

Engineers say they moved the V8 engine from the front to the middle of the car for better performance. They also changed its looks so it resembles European mid-engine race cars.