The most exclusive Chevrolet Camaro in the world: See GM's $128,000 Hot Wheels Camaro

Each November, about 16,000 car enthusiasts throw their name in a hat hoping to be among a lucky few randomly selected to buy the COPO Camaro muscle car.

Built by hand, the COPO Camaro is the most exclusive Chevrolet car sold by General Motors. Each year, only 69 are assembled in a small factory in rural Michigan. This year, the car is even more special because 29 of them will be a Hot Wheels edition, marking the fabled toy cars' 50th anniversary.

Texas-based drag racer Allen Espinoza, 48, said owning one would be a dream come true. He has been a fan of Hot Wheels toy cars and real Camaros his whole life. So last November, he and his wife, Cheryl, entered the COPO Camaro lottery, knowing it was a long shot. Then, they won.

"I was so happy and shocked because it is so beautiful and such a rare car, and we have the privilege of owning it," said Allen Espinoza, who drove nearly three days from Texas to Michigan to get the car on Sept. 14. "It was surreal almost.”

Hot Wheels and Camaro

COPO stands for Central Office Production Order. A COPO Camaro starts at $109,000, said Curt Collins, manager of Chevrolet Performance, COPO and Performance Parts Licensing.

Since 1968, Mattel's Hot Wheels has replicated Camaros. To mark that 50-year anniversary, Chevrolet returned the tribute, turning the iconic toy into a life-sized Camaro.

The Hot Wheels option costs about $18,975. It has special Hot Wheels graphics on the rear quarter panel, Hot Wheels badges on the fenders and steering wheel, and it reads Hot Wheels on the door sill, Collins said.

The car the Espinozas bought cost them $137,875 because it included racer and Hot Wheels' packages, Collins said. To those who have the opportunity and the money to buy one, it's worth it.

"I have had a couple people come to get their Camaro and start crying when they see the car for the first time," Collins said. "They tell me, 'I've been putting my name in every year, and this is the first time I've been chosen.' "

Ready to race

The first year of COPO Camaro production was 1969, which is why only 69 are built each year at a small assembly plant in Oxford, about 10 miles north of Auburn Hills, Michigan.

COPO Camaro production stopped after the initial year and was not resurrected until 2012, Collins said.

Most of the special Camaros are bought by car collectors. But about a quarter are purchased by racers to compete in quarter-mile drag races. The cars' engines are built to propel the car a quarter-mile in 8.6 to 8.7 seconds from a dead stop. It goes nearly 160 mph, Collins said.

"It is fast," Collins said. "In fact, the National Hot Rod Association requires them to have a parachute for safety. But the car will not leave the factory until they're ready to go race."

Built with care

The COPO Camaro's body shell, which is painted in the buyer's specified colors, is built at a GM plant in Lansing, Michigan. A Hot Wheels Edition is painted Crush, which is orange, Collins said.

The COPO Camaro's engine is hand built at the GM Global Propulsion Center in Pontiac, Michigan, by one of four GM Powertrain engineers. It has a plaque in it with the builder's name on it.

The entire car, including its seats, carpet, trim, wiring, fuel system and a special two-piece carbon fiber hood to fit over the extra-big engine, is then assembled in the COPO Build Center in Oxford, where about 20 people work. The crew removes about 100 pounds of weight from that body shell by taking off unneeded braces and brackets.

It takes about 15 days to build one car, Collins said. Often, the buyer will come in person to take delivery of the car and tour the small factory. Sometimes the assemblers autograph the inside of the car's trunk. So far this year, the factory has delivered 58 of the 69 it will build, Collins said.

"Any job becomes routine after you do it for a few years," Collins said. "But what's unique about our job is that when the customer comes in, the excitement they have when they see it, it reminds you that you're doing this for someone."

A winner

The Espinozas' journey from their home in San Marcos, Texas, to Oxford was long coming.

Allen Espinoza owns a heating and air conditioning business there. He started drag racing in 2010 at the San Antonio Race Way in Marion, Texas. He competed in the NHRA Lucas Oil Drag Racing Series driving a new Camaro Super Sport he bought and then modified to go faster. 

In 2017, Espinoza had saved enough to buy a used 2015 COPO Camaro. But he and Cheryl, 46, longed for a new one.

“With these cars, we weren’t able to find anyone who would finance them," Espinoza said. "Nobody would loan money on a car that you’re going to race. So we had to work hard and save up to purchase it."

The Espinozas wanted to transport it back to Texas themselves in a trailer to ensure it arrived there quickly and safely. It has to be ready to race in two weeks because their Hot Wheels Edition COPO Camara will be the first one to be raced.

Espinoza will race it at the AAA Texas NHRA Fall Nationals at the Texas Motorplex in Ennis, Texas, the first week in October. It is the first national race for Espinoza, who has always raced in regional events. He has never won.

But in two of the last three years, a COPO Camaro has won NHRA's Stock Eliminator championship. A COPO Camaro is currently in first place, and five of the top 10 cars vying for the championship are COPO Camaros, Collins said.

That, along with Espinozas' winning the COPO Camaro lottery, has them convinced Allen Espinoza's luck has changed.

"I think I am going to win," Espinoza said. "You have to believe you’re going to win.”