There are all manner of rumors concerning the next-generation C7 Corvette, with stories ranging from the possibility of a mid-engined platform to AWD powertrains and even the arrival of a dual-clutch version. Although there isn’t much substance to any of these rumors, one of them that’s starting to gain credence is the possibility the new car could be delayed due to upcoming CAFE regulations as well as General Motors' own financial problems.

According to a new report, the C7 Corvette has been put on indefinite hold. Not only is there no set timetable for the next-generation model, AutoWeek reports that a planned refreshed for the current C6 model also looks unlikely to appear anytime soon.

Insider sources have revealed that the C7 was originally planned to be introduced in 2012 for the 2013 model year but this is now unlikely to happen. To make matters worse they claim senior management does not have a clear roadmap for the car’s future. One bright spot is that no one has mentioned the idea of the Corvette being dropped altogether from GM’s portfolio.

Contrary to the insider information, Corvette vehicle-line executive Tom Wallace has previously stated that GM was working on a future Corvette and that some changes to the current model are coming in 2010. He also acknowledged that CAFE regulations will play a role in determining the layout and hardware of the next-generation Corvette but stressed that it won’t kill the car. “No one is saying we're not doing Corvettes. We're still bullish on Corvettes," he said.