It occurred to me today that the 5th Gen Z28 should be released with the 5th Gen refresh and the perfect time to refresh the 5th Gen would be model year 2013. Since the Camaro's model year is typically from July to July, I believe that the Z28 should be a mid-model year release like the ZL1 is going to be... and here is why:
First off, the ZL1 will be released in February 2012 and I'm pretty sure those models will be snatched up fairly quick. If the 5th Gen were to be refreshed the year after, it would make the 2012 ZL1 very, very exclusive and lets face it, those who buy a ZL1 want to be exclusive.
Next, The Z28 should mirror the release of the ZL1 around the February time frame. In fact, all of the Camaro's performance models like the ZL1 and Z28 should be released in the 1st quarter of every year. This ensures that the performance models reach customers hands before the racing season starts in April/May. Also, by the time February 2013 rolls around, the Camaro's sales will be slumping further than they ever have. Sales will naturally start to fall regardless of the looks, performance and sometimes even the MSRP cannot be low enough. The 2013 Camaro would receive its refresh in July 2012 and by that time, the convertible sales will have leveled out to regular convertible sales, the ZL1's sales will have peaked in the spring and will be long gone and the base LT/SS's will need a bump. The July 2012 refresh will be just in time and open the door to the upcoming 2013 Z28 and give GM the opportunity to make the refresh more race/competition focused and take a more modern approach to the 5th Gen Camaro. Along with the natural decline in interest and sales of the 5th Gen, Ford will begin to circulate spy photo's and information about the 50th Anniversary "Mustang III" that should begin production in the first quarter of 2014.
GM will need to make noticeable improvements to the 5th Gen in order to stay competitive and attract some of the media's attention. There are drivetrain improvements that could be done and if that is the approach GM is considering, expect to see some pretty unique range of engine options and horsepower ratings. GM has a plethora of engine options and I would imagine that some of those more limited options may see the light of day just to remain competitive with the obviously older chassis and styling (the roles will be reversed). Performance is one thing and something that will get pretty interesting on the GM side during that time but the styling is where GM will pull in more of those stray consumers. The Camaro's competition will move to the more modern styling and therefore, so will the Camaro. I'm not saying that the 5th Gen will completely change overnight but I can see them taking a few pages from the 3rd and 4th Gen... In which both of those generations have a HUGE fanbase. I have noticed in Grand Am that the Rolex Sports Car Series GT Camaro's have slightly altered the headlights for aerodynamics. I see a modern 3rd and 4th Gen Camaro trying to get out and a possible 2013 Z28 rendition. It is modern, it looks aggressive and race ready, it keeps everything the people loved about the 5th Gen and improves on the current design.
It's simplistic and with a little work to the lower fascia, I'm sure GM could get the top and bottom to work together. I can practically see the 2013 refreshed Camaro and a Z28 right here. It reminds me so much of the 3rd Gen and changing it up a little would secure the 2010-2012 Camaro exclusiveness and build the current design more into a race ready vehicle. The picture above is just something the Camaro GT.R teams threw together to improve aerodynamics and protect the headlights from debris, but I think GM could really turn this simple headlight design into something better and more modern to keep the sales up. This simple design also makes the current Camaro look more classic and somewhat dated compared to what the GT.R is now. This Camaro looks like its ready to work and with the slight adjustment to the fascia, makes the Camaro look drastically different and in my opinion better. What better to introduce the 2013 Camaro Z28 design than to actually use the Grand Am GT.R front fascia. Born and Bred race car...
EDIT: 2013 CAMARO Z28, I made adjustments to a render of the 2006 Chevrolet Camaro concept by X-Raited Creations. This original concept was not my creation.