In this gloomy economic and automotive climate, it is difficult to find a positive beacon of success, most especially amongst the Big Three. However, at odds with decreasing sales and the use of ever growing incentives is the new Chevy Malibu.
Just as GM product guru Bob Lutz promised, the new Malibu has a transaction price nearly $5,000 over the last model. That means most consumers are buying top end models and they are optioning them out liberally.
Sales of the new model are also up a staggering 26% this year, while the industry stalwart Honda Accord has suffered an unheard of 8% sale decline. This should be most unnerving for Honda as the Accord is an all-new model.
Sales of Accords usually spike in the first year and then soften later in the model cycle. Not a good sign for Accord sales volumes three years down the road.
So is this evidence that the Malibu will still have smooth sailing in the marketplace? Not exactly. The Camry is still selling strongly besides being nearly three years old and the Malibu will face the possibility of a resurgent new Ford Taurus in about a year or so. That is if we think we can believe Ford when they say the new Taurus is “stunning.”
The current model is more “saddening.”
Our take? In spite of all this, GM should find these numbers as reason to celebrate. It has been years since GM had a viable alternative to the standard import sedans. Amazingly enough for the General, the new Malibu is even starting to appear in copious numbers on California roads. And for once they don’t have a license plate holder that reads, “My other car is an Enterprise Rental Car.”