For the past two years the Chevrolet Camaro has starred as the official pace car of the Indianapolis 500, providing spectators with some eye-candy on race day and laying the base for a new special edition of the beloved muscle car destined for the showroom. Now that task is being handed over to the newest addition in the Camaro range, the all new 2011 Chevrolet Camaro SS Convertible.

Chevrolet and Indianapolis Motor Speedway officials made the announcement at the Barrett-Jackson Scottsdale classic auto auction, which is taking place in Scottsdale, Arizona this weekend. One lucky bidder will have the opportunity to purchase the first of 50 Indianapolis 500 Festival Committee cars. Proceeds of the auction will be donated to the David Foster Foundation, a charity that helps support families with children in need of organ transplants.

The Camaro first paced the Indianapolis 500 in 1967 and to this day is still regarded as one of the most loved official pace cars of all times. The new Camaro SS Convertible is the 22nd Chevrolet chosen to pace the annual race, which is now in its 100th year.

The pace car, along with the matching festival cars, features a ‘Summit White’ exterior accented with orange stripes and door graphics. The interior is trimmed in orange leather, including front seat headrests embossed with the Indy 500 logo, along with white door panels and instrument panel trim. The instrument panel trim features extensions of the orange exterior stripes. The color combination is similar to the design used on the original 1969 Camaro Indy pace car.

The auction for the commemorative edition pace car will take place Saturday evening on January 22, while the Indianapolis 500 race will take place on May 29.