2011 Camaro

General Motors on Tuesday unveiled the all-new 2011 Chevrolet Camaro convertible, tearing the roof off the vehicle poised to reclaim the crown of the world's best-selling muscle car.

The automaker is unveiling the convertible this week at the Los Angeles International Auto Show and says production should begin in January with sales to follow in February. Like the 2010 coupe, the new model will come standard with a 312-horsepower V-6 engine capable of 29 mpg on the highway, and the SS model will feature a 426-horsepower V-8 engine.

Chevrolet had been teasing the Camaro convertible for some time, revealing photos on Facebook and even offering a special edition last month in the Neiman Marcus Christmas Book (all 100 sold out in three minutes).

"The launch of the new convertible opens Camaro design and performance to a new set of potential customers," said Chris Perry, vice president of Chevrolet marketing. "The 21st century revival of Camaro is tremendously popular, so it’s a natural to now expand and elevate the product range in new directions."

GM discontinued the Camaro in 2002 due to sluggish sales, but the automaker resurrected the pony car in spring of 2009 and in June of that year it outsold the Ford Mustang for the first time since 1993.

Sales have continued at a healthy pace, and The Detroit News reports the Camaro is on pace to top the Mustang for yearly sales for the first time in 32 years. Chevrolet sold 71,521 Camaros through October, while Ford sold 64,171 Mustangs.

"I think this rivalry is good for General Motors and Ford," Chris Perry, vice president of Chevrolet marketing, told the newspaper. "America needs a healthy auto industry and this kind of competition is good."

The competition may be good for both automakers, but the sales victory is exclusively good news for GM, which has dominated auto industry headlines this week as it prepares for tomorrow's initial public stock offering.