Little Red Corvette is the second track on Prince's fifth album 1999, and, three months after the album's release, Little Red Corvette was released as the album's second single.
In 1993, the track was included as the seventh track on Prince's compilation album The Hits 2 (also included as the second disc of The Hits / The B-Sides).
In 2001, the track was included as the third track on the compilation album The Very Best Of Prince.
In 2006, Little Red Corvette (Dance Remix) was included as the second track on the second disc of the compilation album Ultimate. The original album version has also been included as the b-side on various re-releases of 1999, the first single from Prince's fifth album 1999.
Basic tracking for Little Red Corvette took place at Prince's Kiowa Trail Home Studio in Chanhassen, Minnesota, on 20 May 1982, marking the first 24-track recording on a newly installed Soundcraft console in his home recording studio.
After Prince's passing a woman from St. Paul named Mi-Ling Stone revealed she was the inspiration for the song.
She first met him in 1976 and then again in 1979. She was a student at the University of Minnesota, locally known as 'Fancy Dancer' and thinks Sexy Dancer could also have been about her. Prince started dating her in January 1979.
She lived in a duplex on Fuller Street in Saint Paul, MN and she had pictures of jockeys on her wall, among them Mike “Hercules” Weaver, whom at some point she also dated. Prince and her stopped seeing each other when she left Minnesota in 1980.