Chevrolet and Corvette racing are gearing up to make a huge dent in the world’s most intense motorsports event: American Le Mans Series (ALMS).

This is a preview of what to expect from the Corvette Racing Team as they document the ALMS season in their upcoming video series. Stay tuned as we continue to update this ongoing battle between American muscle and top automotive engineering.

He defended his comments, saying, “My thoughts on what has or hasn’t been the cause of climate change have nothing to do with the decisions I make to advance the cause of General Motors.”

According to The Motor Authority: “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 new agreement signed with GM. ”

General Motors figures a $50 million development price for the Z28, and as Motor Authority added its “niche status” will probably keep this muscle car down. If the Chevy Z28 (aka, IROC baby!) does come to life, expect a 550hp 6.2L V8 engine from the Cadillac CTS-V to the Camaro’s engine bay.

The Volt’s 230-mpg city fuel economy estimate by Henderson is only an assumption right now, as the CEO states: “GM is not over-promising on the numbers.” The EPA’s new system weights vehicle ratings based on the expectation that they will travel more city miles than highway miles on electricity only. To define the electrical efficiency of plug-ins, the EPA calculates the kilowatt hours used per 100 miles traveled. General Motors 2011′s Volt, which travels up to 40 miles using only electricity stored in its 16-kWh lithium-ion battery pack, to use as little as 25 kilowatt hours per 100 miles in the city. Using a national average of about 11 cents per kWh, GM anticipates the average Volt customer would pay about $2.75 for electricity to travel up to 100 miles.

Basically, it’s all one big math problem and guessing game. Good Luck Chevy! Now you’ve got a lot to live up to.

If you’re stuck in a lease, contract, or other legally bonded agreement with a signed document in tow just follow these easy steps (as GM did) to get out of it:
1) Make something many people want but no one can afford (ie: giant SUV’s) when you should be making something smaller and, for example, more fuel efficient.
2) Run out of money after making mass amounts of said product and having it not sell due to global recession.
3) Call your local Government for billions of dollars in bailout funds.
4) When that doesn’t work, tell them if you can get out of this (contract/lease/etc) because it’s too expensive they’ll give you the ok!

According to Detroit News, not even iconic and historic structures are safe. The giant Chevrolet Clock at Times Square will no longer brand a Chevy logo – as it has since the 1930s. The clock underwent an expensive, and major technological redesign in 2007. Estimates have been thrown around for how much all this will save GM, we’ve heard anywhere from $31 to $82 Billion dollars.

According to World Car Fans: There’s no word as to which of the Camaro’s three available engines will make the leap across the Atlantic. In the U.S., the Camaro is available with a 304-horsepower 3.6 liter V6 and a choice of 400 or 426-horsepower 6.2 liter V8s, depending on transmission choice. GM’s fuel-saving Active Fuel Management is available on the 400-horse V8. The Camaro also sports a four-wheel independent suspension and available stability control. The ride and handling are uniquely American, a fact that will be considered a good thing to some European buyers and a bad thing to others.

U.S. pricing for the Camaro starts at $23,040 for the V6 and $35,425 for the V8-powered SS. That’s about €16,400 and €25,215, respectively. GM has not yet released German or any other European pricing information for an exported Camaro.

Hmm…yeah, we can see that…

The official announcement came at 7:57 am today to the New York Bankruptcy Court with the hopes of a rather quick 60 to 90 day turnaround. Chrysler LLC (now the Chrysler Group LLC) was approved for their Ch. 11 procedures fast, with Fiat taking over major ownership of that company. The 100 year old auto maker will now begin shedding most financial liabilities

General motors also GM disclosed the names of 13 plants it will close by the end of next year, dropping the number of assembly lines from 47 to 34, from Michigan to parts centers in Boston, Columbus, Ohio and Jacksonville, Fla.

With a listed $82.3 billion in assets and $172.8 billion in debts let’s keep our fingers crossed that Chevrolet can continue to stake a claim under the GM flag, and that not too many working class jobs are lost.

Straight out of Bloomberg News this morning: General Motors Corp. is sending termination notices today to 1,100 U.S. dealers with about $2.5 billion in unsold vehicles as the automaker starts shrinking its retail network, a person familiar with the matter said.

The dealers hold about 120,000 autos of various brands, said the person, who asked not to be identified because GM hasn’t announced details yet. Mark LaNeve, GM’s North American sales chief, is set to brief reporters at noon New York time.

The closings are GM’s first step toward paring U.S. dealers to 3,600 from 6,200 by the end of next year as it faces a probable bankruptcy by a June 1 deadline. With fewer outlets, the survivors each may be able to sell more cars at higher prices, boosting profit, the person said.

“A concern of all dealers would be if the market value of vehicles were to decline because terminated dealers would be desperate to sell,” said Jim Eagan, a partner at consulting firm Plante & Moran in Southfield, Michigan.

Eagan said he hoped that GM would force the remaining franchisees to purchase inventory from stores being closed.

“It’s quite an emotional day,” said Wyman Williams, 61, who was waiting to learn whether his Williams Motors in Commerce, Texas, is on the closings list. “We’ve been here 40 years and what happens today is really important.”

He said he filed for Chapter 11 protection on April 1 for his Chevrolet-Pontiac-Buick store. “It was a necessity, but it worked out as a defensive move,” Williams said. “There’s a judge between GM and me.”

GM fell 1 cent to $1.14 at 11:08 a.m. in New York Stock Exchange composite trading. The shares have tumbled 95 percent in the past year.

GM is hoping for an orderly wind-down of the affected dealers over the next year or so, the person said, meaning they would close when their inventory is gone.