Chevrolet's Camaro convertible delayed, Z28 facing cancellation

The crew at the freshly-minted Detroit Bureau is reporting that while the Chevrolet Camaro has started rolling off off production lines, there are some serious hitches with future model plans that could result in a substantial delay – or outright cancellation – of two hotly-anticipated models.

According to Paul Eisenstein (veteran auto journalist and founder of TheCarConnection), the Camaro convertible and Z28 are both in jeopardy. As the story goes, budget crunches for both General Motors and its suppliers could grenade products that were seen as foregone conclusions.

At the moment, TDB says that saving the droptop is the most pressing issue, as the German supplier responsible for the convertible top is having money problems. GM is seeking alternate suppliers, but that process is likely to take six months or more, meaning that the model will likely miss most of the 2010 convertible's prime selling seasons (Spring and Summer).

The high-performance Z28 is a different story, however, with GM's own costs reportedly being the culprit. TDB quotes Gene Stefanyshyn, the car's Vehicle Line Executive, as saying that as it sits, the model "would cost too much" – about $50 million. Thus, the Z28 could either come to market carrying a prohibitively expensive price tag or face some "creative engineering," and it's likely to do the latter – if it can be saved at all. For now, TDB is calling the Z28 "cancelled" with a potential resurrection still in the cards.

Assuming these revelations are true, Bowtie faithful, if you were planning on holding on to your purse-strings for a while longer, you may just want to get in line now for an RS or SS hardtop and consult the aftermarket. Us? We're going to hold out hope and drop a few dimes on our sources at The General just in case.

[Source: The Detroit Bureau]