The Camaro Convertible is back on track say the latest industry reports. While several media outlets (including Motor Trend) recently reported the indefinite future of the drop-top muscle car, MotorTrend is now reporting an about-face by General Motors.

The apparent reason for putting the model on hold was that the German supplier of the convertible top had gone bankrupt. Presumably GM needed to take some time to find a new parts supplier - something which could have eventually lead to the cancelation of the model.

The latest report, however, is that the supplier is still in business (maybe GM is paying them up front for the parts?) and that the Camaro Convertible will go into production. As a result of these shenanigans, the Camaro Convertible will see a production delay with the wind-in-your-hair sportscar going on sale in 2011 as a 2012 model.

Unfortunately this little incident is the extend of the good news, with plans for the Z28 (a high performance model using the supercharger 6.2-liter V8 found in the Cadillac CTS-V and Corvette ZR1) still slated for the recycle box.