The 2020 Chevrolet Corvette Stingray can run flat-out at 194 mph.

Earlier this week, we found out that the new mid-engine Corvette would start at less than $60,000 just like GM promised. Buried in that same report was a little tidbit about the new Stingray’s performance, and it’s also a very impressive number: 194 mph.

That’s the 2020 Corvette’s top speed. For a car that costs just $59,995, that’s a truly impressive feat. That’s faster than the previous-gen Corvette Z06, and that car had 650 horsepower. It's faster than the Mercedes-AMG GT at just a fraction of the price. Same with the Acura NSX, another mid-engine car which has 80 more horses than the C8 Corvette.

Later C8 models are sure to increase that top speed even further to rival the likes of Lamborghini and Ferrari.

Curiously, the Z51 Performance Package actually decreases overall top speed. According to Chevy spokesman Kevin Kelly in an email to Motor1, "The Z51 package reduces top speed to 184 mph.”

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We’re told the Z51’s drop in overall speed is due to the increased downforce added with the Performance Pack. The Z51 package adds a front splitter, rear diffuser, and a rear spoiler, all of which increases downforce and consequently drag. Even though the Z51 package adds a performance exhaust that provides the mid-engine ‘Vette an extra 5 horses (bringing total power up to 495 hp), it still loses 10 mph off of its top-end from the added drag.

2020 Chevrolet Corvette Stingray
via Chevrolet

That said, the Z51 Performance Package is sure to increase the Corvette’s performance. It adds a set of super-sticky Michelin Pilot Sport 4S tires, performance-tuned suspension with manually adjustable threaded spring seats, an electronic limited-slip rear differential, and larger brake discs with Brembo 4-piston monoblock calipers. Those brakes also get extra cooling inlets to prevent overheating, while the engine also gets enhanced cooling upgrades.

The 2020 Corvette Stingray goes into production later this year, with deliveries expected early next year.

NEXT: The C8 Mid-Engine Corvette Has Already Been In An Accident