2010 Chevy Camaro & GM Restructuring News

Big News From GMPP At PRI
GM Performance Parts was all too happy to unveil not only its LS7-powered 2010 Camaro (elsewhere in this issue) at the 2008 Performance Race Industry show in Orlando, FL but also a scale model of the body-in-white of the new Camaro it plans to sell. The bare chassis and shell is ideal for building racecars, which GMPP hopes to inspire with the fifth-gens. Dr. Jamie Meyer of GMPP also took the opportunity to announce the availability of the LS9, 376 and 454 LSX crate engines, and even a turbo upgrade kit for the Cobalt SS.

First 2010 Camaro For Sale At Barrett-Jackson
Barrett-Jackson reports that this year there is a record 14 charity vehicles up for auction, chief among them is (the rights to) the first retail production 2010 Camaro. VIN 100001 (Lot #1316) is available to be spec'd to the owners liking in the color, engine, transmission and trim packages available. The auction benefits the American Heart Association. It is good to know that even when GM has fallen on hard times, it still manages to give back what it can.

GM Restructuring
In its 39-page "Restructuring Plan for Long-Term Liability" submitted to the House of Representatives Financial Services Committee, GM announced its intentions to cope with "the worst economic downturn and credit market conditions since the Great Depression." The failures in America's financial sector, including in investment banks and insurance companies, has put a strain on GMAC (GM's financing arm) in particular, making it less able to finance the purchase of new autos. In order to right the ship, GM has asked the House for up to $10 billion a month in temporary loans, totaling up to $18 billion.

The restructuring plan, to insure this doesn't happen again, includes reducing the number of brands, nameplates and retail outlets as well as changes in wages and benefits (to be competitive with foreign markets), manufacturing and structural cost reductions, and a commitment to building smaller, more fuel-efficient vehicles. Hummer, Saab and Saturn look to be up for sale in the near future. Meanwhile, they are hoping to keep Buick and Pontiac alive through consolidating the dealer network with GMC. Even the executives are taking a pay cut, and look for several extremely rare prizes from the GM Heritage Collection to be on sale at the Barrett-Jackson Auction. The good news is that we have yet to hear one threat to our beloved performance division that is churning out new Camaros, Corvettes, and G8s.

News?
Please send all news and corrections to: scott.parker@sorc.com, or mail to: GM High-Tech Performance, 365 West Passaic St., Rochelle Park, NJ 07662.