General Motors’ all-new Chevrolet Malibu might not be challenging the kings of the mid-sized segment quite yet — the Honda Accord and Toyota Camry — but the new sedan is quickly making headway where the previous-generation car fell short.
According to The Detroit News, the all-new Malibu is selling at a transaction price $5,000 higher than the last-generation car. Moreover, prices are staying steady despite a market downturn and sales and Malibu sales were up 50 percent through the first two months of the year.
Sales of the range-topping LTZ tirm level are also up, with a take rate of 21 percent on the current car whereas the out going Malibu only saw a take rate of about 5 percent.
But the news isn’t all good for the new Malibu. While the new sedan is selling well to those who have already owned a Chevrolet — about 40 percent of Malibu buyers are repeat Chevy buyers — the Malibu isn’t taking customers out of other brands. According to J.D. Powers, only 1.4 percent of Malibu buyers traded in a Camry and less than 1 percent of buyers swapped their Accord for a new Malibu. Another 1.3 percent traded a Nissan Altima in for a Malibu.
Although few import drives are swapping their rides for a new Chevy, at least the ne Malibu is already far more successful than its predecessor.
