General Motors Company (NYSE:GM) has introduced the sixth generation Camaro in the U.S. in its latest fight against the muscle cars in the Detroit that benefit from cheaper oil.
The latest debut follows the official launch of its competitor Ford Motor Company (NYSE:F)’s Mustang Sports Car.
Fiat Chrysler Automobiles NV (NYSE:FCAU)’s Dodge Challenger, Ford’s Mustang and General Motor’s Camaro are all receiving good response following baby boomers nostalgia and lower oil prices.
It was in the era of 1960s when prices of the gas spiked, and it resulted in establishing fuel efficiency standards.
The latest models are based on advanced transmission technologies and engines but with the names of old cars. The latest versions are much better and powerful when compared to the original versions.
Features of Camaro
The newly designed Camaro boasts a myriad of visual homage’s and sleeker interiors when compared to the ancestors dating back to 1960s. The new model is banking on the age group of 50 and older that prefers buying new cars. This is a fact even though; Chevrolet car makers are focusing on People, who are in the age group of 18 to 34; that represent largest percentage in the U.S.
The new model weighs 200 pounds lesser when compared to the earlier version. It is wider and longer to accommodate kids play and enjoy more space while on the move.
The 2016 model will feature an engine with a capacity of 2.0 liter and delivers a highway mileage of 30 miles for each gallon. The SS model Camaro features 455 HP V8.
The prevailing model is priced at $24,700. However, General Motors has not divulged the price details of the new version, which is slated for sales in the later part of this year.
The cars that include Challenger, Mustang and Camaro, have not staged a full recovery since the peak at prerecession, but the prices are seeing an uptrend since 2009.
The sales of earlier Camaro plummeted by 15% in the earlier part of 2015. But, it has outpaced the Mustang a year earlier.
According to the sales data released by Autodata, the sales of Mustang and Dodge Challenger increased by 60% and 41% in 1Q2015.