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I put around 2000 miles per year on mine and I take it to the dealer every March for the state inspection and a good "once over" by the Corvette tech there. I bring them the oil/filter( Mobil 1 ) that I buy on sale at Advance Auto and they change it for $10.00. The computer is usually around only 30-40% used but I consider it cheap insurance in my opinion.
I put around 2000 miles per year on mine and I take it to the dealer every March for the state inspection and a good "once over" by the Corvette tech there. I bring them the oil/filter( Mobil 1 ) that I buy on sale at Advance Auto and they change it for $10.00. The computer is usually around only 30-40% used but I consider it cheap insurance in my opinion.
Regardless of OLM or mileage, GM recommends you change the oil once a year to avoid condensation build up. You're fine there.
I change mine every 5,000 miles with Mobil 1 5W30 and a WIX oil filter. I used to use the AC Delco oil filter until they changed to the E version with the plastic insides.
Here is what my '04 manual says on Oil replacement: Since I do not drive the miles for the computer to notify me it is time for a change, I follow these instructions highlighted in RED.
When to Change Engine Oil
(GM Oil Life System)
Your vehicle has a computer that lets you know when to
change your engine oil and filter. This is based on
engine revolutions and engine temperature, and not on
mileage. Based on driving conditions, the mileage at
which an oil change will be indicated can vary
considerably. For the oil life system to work properly,
you must reset the system every time the oil is changed.
When the system has calculated that oil life has been
diminished, it will indicate that an oil change is necessary.
A CHANGE OIL SOON message will come on. Change
your oil as soon as possible within the next two times you
stop for fuel. It is possible that, if you are driving under the
best conditions, the oil life system may not indicate that
an oil change is necessary for over a year. However, your
engine oil and filter must be changed at least once a year
and at this time the system must be reset. Your dealer
has GM-trained service people who will perform this work
using genuine GM parts and reset the system. It is also
important to check your oil regularly and keep it at the
proper level.
If the system is ever reset accidentally, you must
change your oil at 3,000 miles (5 000 km) since your
last oil change. Remember to reset the oil life system
whenever the oil is changed.
It was GM's policy to state a minimum of annual oil changes until the Volt came out... then it magically got extended to 2 years. Oil doesn't go bad in a year is the bottom line. The Volt has some of the worst engine duty cycles that any car can have and GM says even under those conditions 2 years is good.
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Unfortunately, I did not drive the car enough each year to cause the OLM to get down to a very low percentage. I changed it when putting the car in storage for the winter.