The C8.R is powered by a Chevrolet LT6.R 5.5-litre naturally aspirated 90-degree V8 engine, mid-mounted and longitudinally positioned, producing 500 hp (373 kW) at 7,400 rpm and 480 lb-ft (650 N·m) of torque. The flat-plane crankshaft architecture marked a significant departure from the pushrod V8s used in previous Corvette racing cars and aligned the competition engine more closely with the mid-engine C8 road car. Transmission is an Xtrac P529 six-speed sequential manual. The chassis is an aluminium monocoque measuring 4,630 mm long, 2,050 mm wide, and 1,148 mm tall on a 2,723 mm wheelbase; minimum weight is 1,245 kg. The car used TotalEnergies fuel in the WEC and VP Racing Fuels in IMSA, lubricated throughout by Mobil 1. The car was designed by Vlad Kapitonov and built and maintained by Pratt Miller, Corvette Racing's long-standing technical partner. It was the direct successor to the Chevrolet Corvette C7.R and was itself succeeded by the Chevrolet Corvette Z06 GT3.R from 2024.
The C8.R made its competitive debut at the 2020 24 Hours of Daytona in the IMSA GTLM class. The best-finishing Corvette, the number 3 car, completed 785 laps to place fourth in class. Throughout the shortened 2020 season Corvette Racing secured six GTLM class victories at Daytona, Sebring, Road America, Virginia International Raceway (the WeatherTech 240, the car's first win), Mid-Ohio, and Charlotte Motor Speedway. These results gave the number 3 Corvette the GTLM Drivers championship and Corvette Racing the Teams and Constructors championships. Corvette also made its WEC debut at the 2020 Lone Star Le Mans in the GTE Pro class; a planned entry at the 2020 24 Hours of Le Mans was withdrawn due to the COVID-19 pandemic.
Corvette took the GTLM class victory at the 2021 24 Hours of Daytona and won a further six class races through the season, claiming the GTLM Teams, Constructors, and Drivers titles for the second consecutive year. The 2021 season also brought the C8.R's debut at the 24 Hours of Le Mans, with the number 64 Corvette finishing second in LMGTE Pro, a narrow margin behind the winning Ferrari.
Following the elimination of the GTLM class, Corvette Racing entered one IMSA car in the new GTD Pro class using a modified GTD kit while the Z06 GT3.R was completed. The team won at Sebring but was unable to repeat the success, finishing third in the GTD Pro standings. In the WEC, Tommy Milner and Nick Tandy drove a full-season LMGTE Pro campaign, winning at the 6 Hours of Monza, and placing second at Sebring and Bahrain, though the entry was regularly outpaced by the AF Corse Ferrari and the Porsche factory effort.
For 2023, Jordan Taylor and Antonio García led the IMSA GTD Pro programme with Tommy Milner joining for endurance rounds; the last GTD Pro win came at the Michelin GT Challenge at VIR.
In the WEC, with LMGTE Pro eliminated, Corvette moved the C8.R to LMGTE Am. Nicky Catsburg (Platinum rated), Ben Keating (Bronze), and Nicolás Varrone (Silver) drove the number 33 car. The crew won the LMGTE Am class at the centenary 2023 24 Hours of Le Mans, the race's 100th edition. At the 6 Hours of Monza in July 2023, Corvette Racing clinched the 2023 FIA WEC GTE Am Teams and Drivers championships with two rounds still remaining. The C8.R's final WEC appearance was at the 2023 8 Hours of Bahrain.
Across 61 competitive starts, the C8.R accumulated 22 wins, 50 podiums, 23 pole positions, and 14 fastest laps. It won three Drivers championships (2020 IMSA, 2021 IMSA, 2023 FIA WEC), three Teams championships (2020 IMSA, 2021 IMSA, 2023 FIA WEC), and two Constructors championships (2020 and 2021 IMSA).
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