The Chevrolet Malibu is selling very well and transaction prices are up more than $4,600 on average.
Last year, Bob Lutz promised the 2008 Chevrolet Malibu would sell for $4,000 to $5,000 more than the last-generation Malibu did. An Automotive News report claims the Chevrolet Malibu is now selling for an average of $4,600 more than the previous model and the Malibu is even starting to sell on the West Coast. Does Chevy finally have a midsize winner on its hands?
The Chevrolet Malibu used to be one of the cheapest midsize sedans on the market. Today the Malibu is selling very well and average transactions prices are up in otherwise difficult times for the auto industry. Sales of Honda's redesigned Accord are down roughly 8 percent, while Malibu sales are up 29 percent. Those numbers would not have been believable with the last-generation cars.
It's too early in the year to call the Malibu a grand-slam, but these early results are giving GM executive a reason to be happy. The numbers should stay strong. Some dealers had a tough time getting the 2008 Malibus in stock initially, but now dealers have a better selection of Malibus on hand.
Source: Automotive News (subscription required)