As General Motors continues to survive on taxpayer’s bailout money, it must be very careful on how and where it spends cash. That includes how the automaker spends money on future products already in the pipeline.

According to Motor Trend, the Chevrolet Camaro Z/28 is already done; however, General Motors has put the Z/28 on hold since it ran out of money to launch the car. General Motors has to be very careful where it spends its taxpayer bailout money since a car like the Camaro Z/28, which is expected to return a fuel economy of 13/19 mpg, will most probably be looked down upon during the company’s current financial situation.

Under the hood of the Chevrolet Camaro Z/28 will be the same 6.2L LSA V8 supercharged engine from the Cadillac CTS-V. It will produce a neck-snapping 556-hp with a peak torque of 551 lb-ft. The Z/28 will also share the 6-speed manual and automatic transmission with the Cadillac CTS-V. 0 to 60 mph is expected come in at 3.9 seconds with a top speed of 193 mph for the manual version. While all that makes us muscle car fans drool, General Motors will have to stick to building fuel-sippers like the Chevrolet Cruze and the Chevrolet Volt for now. However,with the recent announcement that GM will no longer need money from the government there is hope that this could come true by 2010. keep your fingers crossed