Ford has already revealed that they will be offering a new Ford Mustang GT500 model that will come with an upgraded engine and more. With what the Corvette has to offer now, there is no chance that the Corvette would be able to beat that.
However, Chevrolet has come prepared. The automaker has already announced that they will be working on a new Chevrolet Corvette ZR1 model which will be coming in with an upgraded engine. While the current Chevrolet Corvette will only offer about 650hp, the new ZR1 should be offering about 700hp to 750hp when it arrives.
The Ford Mustang GT500, on the other hand, will be offering about 800hp when it arrives. While that is more than what the Chevrolet Corvette ZR1 will have to offer, we also need to take into consideration the fact that the Ford Mustang GT500 is going to be a lot heavier than the Chevrolet Corvette and that should give the Corvette a slight advantage.