After hearing that Chevrolet is cooking up successors to the Corvette ZR1 and Z06, there is a new buzz that the American carmaker is planning to release a more budget friendly Corvette that more people can afford.

The new Corvette model will be known as the Corvette Coupe and will be positioned below the new Corvette Stingray. Given the name, most likely the low-cost Corvette will have a fixed roof instead of the Stingray’s carbon fiber removable top. Recent reports say that this new version of the Corvette may roll out as a 2015MY.

Being an entry-level unit, the Corvette Coupe will not have the new LT1 V-8 engine with a displacement of 6.2 liters but instead have a 5.3L V-8. The output of this engine is said to reach 400 horses so there is a good buffer of 50HP between the Coupe and the Stingray.

The Corvette Coupe will also receive a different styling approach featuring less equipment. The new Corvette model will have new fenders, bumbers, and a fixed roof. The Coupe will of course not have the carbon fiber elements featured on the Stingray.

Chevrolet has not revealed the tag price of the Corvette Stingray but reports say that anyone who has the budget for the base C6 that has a tag price of $50,595 should have no trouble getting the Corvette Coupe to their garage. So most likely, the Coupe will have a price lower than $50,000 and that will go very well with fans and the tuner crowd.