The 'Official Pace Car' was driven by race car driver Jim Rathmann (a winner of the 1960 Indy 500). The winner of the 1978 Indianapolis 500 was Al Únser.

Chevrolet had negotiated with the Indianapolis Motor Speedway to have a modified Corvette chosen as the pace car for the 1978 Indy 500. 6,200 units were produced so that each Chevrolet showroom could have at least one. Thus, what was officially called the Limited Edition Indy Pace Car Replica Corvette made up some 15% of total production.

Pace Car replicas have two-tone black over silver paint with special decals. Pace Car interiors reflected Bill Mitchell's influence, with full silver leather or silver leather/gray cloth upholstery and gray carpeting.

Chevrolet had scheduled new Corvette seats for 1979, but the program was rushed forward so that the 1978 Pace Car could have them first.

This particular example, currently on display at the Corvette Museum in Bowling Green, KY, was from the collection of baseball great Reggie Jackson. It has only 78 actual miles and a unique VIN sequence. The base-price at $13,653.21 for the Pace Car Replica was quite a boost over the $9,351 standard model but because it looked like an 'instant collectible,' everyone was sold.

Source - Corvette Museum