Paul Eisenstein at The Detroit Bureau is reporting GM is shelving plans for a 570 HP Camaro Z28. The reason? It would be prohibitively expensive for GM at this time. With a program price around $50 million, the Z28 got the axe in favor of other efforts.
The bad news continues as the convertible, which was previously delayed a year, faces the collapse of the German supplier providing its convertible top. The unnamed source within GM went on to note, despite the bad news, there's still a desire by the program groups to build both of these cars; but it'll take significant engineering finagling to bring them to market for the right price. [The Detroit Bureau]