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Jon Wong/Roadshow

Chevrolet Camaro may be getting cheaper

More affordable price structure is possible to better compete with the Ford Mustang.

In an attempt to position the Camaro to better battle the Ford Mustang and Dodge Challenger in showrooms, Chevrolet is considering a number of options, including price adjustments for entry level cars and V8-equipped models.

When speaking to Automotive News, General Motors vice president of global product development, Mark Reuss, acknowledged that comparable Mustangs and Challengers generally carry a lower base price than the Chevy, and the Camaro's large price jump to upgrade to the V8 engine.

The Camaro ZL1 1LE likely won't be getting more affordable, but base models and the SS might.

Jon Wong/Roadshow

For the 2017 model year, the Camaro starts at $26,900 with the 2.0-liter turbocharged four-cylinder engine. Stepping up to the V6 engine is a $1,495 option for a $28,395 base price. This while the Mustang starts $26,085 and the Challenger begins at $28,090, both powered by V6s.

When it comes to V8 models, the Chevy begins at $37,900, while the Ford starts at $34,095 and the Dodge punches in at $34,090.

Reuss says the price difference with the V8 is in large part due to the additional features packaged in with the bigger engine. Offering the V8 by itself without all the other bells and whistles that performance-minded customers may not care much about would lower the cost of entry into the more potent Camaro models.

Chevrolet didn't confirm what other options it is looking at to expand the Camaro range, but we've already seen an exciting addition for the 2018 model year with the ZL1 1LE, which has proven to be quite the track-capable vehicle.