In 1955, the manual transmission promised by Chevrolet for its Corvette was finally available. The 265-ci, 3-speed V8 was rated at 195 horsepower, although the majority of the cars were still equipped with the Powerglide automatic transmission.

Much of the improvements from 1954 forward were spurred by the release of the Ford Thunderbird two-seater, the stiffest competition the Corvette would face (at least from its own country).