Recent reports stated that GM’s plans for a high-performance Camaro Z28 had been canceled and the Camaro Convertible was stuck in limbo, now fresh info has come to light. The Camaro Z28 isn’t looking likely to ever reach production but the Camaro Convertibe is set for a March 2011 launch.

Cost cutting at GM and fears that the German supplier of the Camaro Convertible’s roof mechanism was about to go under led to last week’s claims that the car was put on hold indefinitely. However, the supplier in question is still in business and has a fresh contract with GM.

GM spokesman Terry Rhadigan recently confirmed that production of the highly anticipated convertible is scheduled to start in the first quarter of 2011. He went on to concede that this will be a few months later than the originally planned late 2010 launch. “We always thought it would be one year after the coupe,” he said. “Instead we are going two.”

As for the Z28, GM was planning to add the 550hp (410kW) 6.2L V8 engine from the Cadillac CTS-V to the Camaro’s engine bay in an attempt to out-power the Dodge Challenger SRT8 and Shelby Mustang GT and claim the status of baddest modern muscle car. Sadly, the Z28’s expected $50 million development price tag and potential low sales volume meant it never really had a chance.

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