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My external temperature was reading fine when i first got the car, but now its reading -38F all the time. Today for just a few minutes it started reading correctly, but now its back down to -38.
any ideas as to whats wrong with it? bad sensor wire? bad sensor?
Check the connection at the sensor. If all is well, buy a new sensor from your local dealer (should be under $20) and plug in new sensor. The whole connector and sensor can be pulled up from the top with the hood raised. It is a plastic ribbed plug pushed into a hole in the frame and can be lifted to disconnect and replace sensor, then pressed back into hole. Post what you find.
Looks like you're going to have to replace the connectors. I don't know what's available from GM, but I'd ask the parts dept. Maybe someone is parting out a Vette on the forum and could cut off the connector and send it to you.