Auto supplier Magna International Inc. has picked up the contract to supply GM with the tops for the new Chevrolet Camaro convertible. German supplier Edscha AG had originally had the contract, but their filing for insolvency has put GM in the position to give the business to Canada based Magna. GM estimates production of about 20,000 units for the first-year Camaro convertible; only the Mustang sells as many.
With only 41,380 convertibles built by North American manufacturers through November of “09, convertible production by American manufacturers is at its lowest point having dropped from 200,000 units four year previous. This reduction has caused a blow to manufacturer”s business, hence the situation with Edscha.
Amidst drastic sales declines, GM was forced to cut the Pontiac Solstice, Saturn Sky, and Cadillac XLR from its lineup, all of which had their tops supplied by Magna.
The Magna tops are planned to be produced at the company”s plant in Bowling Green, Kentucky.
The original production date was slated for Q1 of 2011, but that seems to have been pushed back to the second half of 2011.
Magna currently sits atop Automotive News”s list of the 150 largest suppliers in North America with sales of $11.42 billion in 2008.
-By Stephen Calogera
Source: Automotive News