Chevy has yet to officially debut its upcoming Camaro convertible, but has already announced that the vehicle will retail for around $30,000 – about $2,000 more than its chief rival, the Mustang.

The Camaro and Mustang have a rivalry that goes back decades, but it's been renewed in recent years. When Chevy revived the Camaro in 2009, it began to trounce the Mustang in sales figures. That extended into 2010 until Ford introduced the new 2011 Mustang with an engine that produces comparable power and better fuel economy at a cheaper price. Although the Camaro still leads sales totals for the year by a slim margin, the Mustang has won in recent months thanks to the new vehicle.

The Mustang already has a convertible option available that is priced close to $28,000 new. The Camaro's early price point suggests that Chevy thinks the Camaro can continue to compete with the Mustang even at a higher price.

Once the Camaro convertible hits the market, other Camaros might take a small hit in value. If drivers desire a pony car, they may want to search the used car market to find a deal on the Camaro or Mustang.