The highly-anticipated Chevrolet Corvette C7 will make its debut in January, though it will not be for sale until 2014, and reports confirm that the new sportscar will have a more efficient engine and transmission than the current C6 model.  

There will be a smaller and lighter aluminum V8 engine displacing approximately 5.5 liters, according to supplier sources. 

The Chicago Tribune added that other special features of the C7 include direction injection, cylinder cutoff and a seven-speed manual transmission. Spy photos of the new Corvette have been released and they reveal a remodel to the car's exterior. The C7 will lose 1-2 inches in overall length and width. Additionally, it is unlikely that the C7 will maintain a split rear window, according to Consumer Guide Automotive. The report also noted that the C7 will be lighter in weight (around 300 pounds), thanks to lightweight composite body panels, and easier on fuel than the C6.

Chevrolet released an all-new crossed flags emblem to promote the redesigned Corvette. The C7 will be revealed on Jan. 13 in Michigan at the North American International Auto Show. 

"We set out to build a world-challenging sports car with refinement, efficiency and driver engagement that is second to none," said Corvette Chief Engineer Tadge Juechter. "The result is a truly all-new Corvette." 

The company launced the site one13thirteen.com in anticipation for the C7's Jan. 13 release date. Videos about the new car will be uploaded onto the site beginning Nov. 15.

"We changed it so that it would change you...The driving experience will never be the same," according to the company. 

Click here for more details on the C7's specs, including its price. 

The first Chevrolet ever sold, the Series C Classic Six, was in 1912 and was priced at $2,500. The brand was founded only a year earlier by racer and mechanic Louis Chevrolet and General Motors founder William "Billy" Durant. 

Tags: chevrolet corvette