We Found This Ready-To-Restore 1973 Millionth Vega In The Car Corral At Rhinebeck

When it was launched for 1971, Chevrolet’s Vega seemed like the right car for the times. The economical subcompact struck a nerve with the buying public, and production crested 1,000,000 units within three years. Chevy tooted its own horn in celebration, and the limited-edition 1973 “Millionth Vega” was the result.  

We encountered one of those Millionth Vega models in the car corral at the Rhinebeck Car Show in New York, this past spring. With its bold colors, accessory ducktail rear spoiler, sporty-looking wheels, and GT badging, this car really stood out. It was one of around 6,500 examples built between May and July 1973 to commemorate that one-millionth Vega that left General Motors’ Lordstown, Ohio, plant on May 17, 1973.  

You could spec your own Millionth Vega replica by paying $497 for RPO ZM5, which included the desirable GT package—additional instrumentation, woodgrain dash accents, a sport steering wheel, 13 x 6-inch mag-style wheels, front and rear anti-roll bars, upgraded springs and shock absorbers, clear front signal lenses with amber bulbs, a black-finish grille, and more—as well as Bright Orange paint, white stripes, orange carpets, the Custom Vinyl Interior package in Light Neutral, power steering, and “Millionth Vega”-labeled door handles. Our feature car was also optioned with a Turbo Hydra-Matic three-speed transmission, AM radio, and bright metal door-edge guards.  

The VIN sticker indicated this special Chevy was built in June 1973 at the Sainte-Thérèse Assembly plant in Quebec, Canada, where a small percentage of Vegas originated in 1973 and 1974. It represented one of nearly 270,000 hatchbacks built that year, out of more than 431,000 total Vegas of all body styles. Just 67,909 miles registered on the odometer, and windshield stickers showed its registration ran out in September 1983, with its state inspection valid through March ’84. 

We spoke with Frank Sorrento, the car’s seller, who told us he’d pulled it from the garage it sat in since it was 10 years old; the Vega’s last owner had removed the gas tank in preparation to repair body rust and replace the damaged rear valance, but never got around to that work. The parts taken off, plus some replacements, were stored inside the car, and its two-barrel-carbureted 2.3-liter, 85-hp, SOHC four-cylinder engine turned freely. This Vega even came with clutch and brake pedals to facilitate a manual-transmission swap. He told us it received some interest in Rhinebeck, but didn’t sell. 

It’s challenging to value a Vega that isn’t one of the higher-performance 1975-’76 Cosworth models, as that rare car, with its fuel-injected DOHC engine, is publicly traded in higher volumes and valued much higher too. While Cosworth Vegas average just over $19,000, classic.com indicates standard Vega variants don’t bring much unless they’re heavily modified. The $5,900 average selling price this site lists for a 1973 model is based on a single sale of a basic (yet very clean, ultra-low mileage) notchback coupe. That noted, the Price Guides featured on Hemmings.com indicates that six 1973 Chevrolet Vega ads have run in the last three years: the average asking price has been $28,228, the lowest being $14,500 and the highest, $54,000. Regardless, our Millionth Vega needs a patron who can take on a ground-up restoration and is more concerned about saving a rare, sporty, stylish 1970s subcompact than they are about owning a collector car of serious value.  

1973 CHEVROLET VEGA GT MILLIONTH VEGA 

Asking price: $4,900 

Seller description: “Rare Millionth Edition. Been in garage for the last 40 years! NY State title.” 

Known issues: Rust in lower body panels and wheel arches, tired paint, gas tank removed, dry-rotted tires   

Why buy? This Vega hatchback was very stylish with its special paint and accessory rear spoiler, and the interior was in surprisingly good condition. The Chevy was complete and came with replacement parts. It’s a special-interest car, rarely seen today, that is worth restoring. 

Price new: $2,932 ($20,788 in 2024 dollars) 

Value now: $1,000-$10,000 

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