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If you have your eyes on a 1958 Chevy Corvette, you'd better start saving up. General Motors CEO Dan Akerson just sold his Regal Turquoise-colored car for a whopping $270,000 to benefit a housing project in Detroit.
“I love this Corvette, and if putting it on the block can help rebuild the heart and soul of a neighborhood, I am all for it," Akerson said Friday.
According to Motor Authority, Akerson wants the money to go straight back to Detroit. It will help fund a neighborhood revitalization project on Detroit's lower east side. The GM leader also gave $1 million to the project in February.
Hendrick Motorsports owner Richard Hendrick purchased the car at the auction held in Scottsdale, Ariz.
According to GM Inside News, the 1958 Corvette model originally sold for $3,591. Only about 500 models exist today.
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