Bob Lutz, GM vice chairman and product development chief, announced at an event last week that the all-new Chevrolet Malibu is far exceeding initial sales predictions for its first month on the market. GM planned to sell only about 500 Malibus in November, but is currently on track to sell 3,000.
“We thought that we would have about 3,500 (Malibus) at dealers and that we would retail about 500,” Lutz told Reuters. “Instead it appears for November the retail number is going to be 3,000 and there are going to be 500 at dealers, which means most Chevrolet dealers do not have a car because they’re selling as fast as they get them.”
GM announced earlier this month that it would expand Malibu production to its Lake Orion, Michigan plant to keep up with initial demand.
The new Malibu is a crucial model for GM’s North American turnaround as the mid-size sedan segment is currently dominated by offerings from Toyota and Honda .
Lutz also revealed that Buick Enclave sales continue to be strong but could be stealing sales from the Saturn Outlook. GM originally expected younger buyers to opt of the Outlook, but many are choosing the Enclave instead. According to Reuters, at the end of October, Saturn had an inventory of Outlooks equivalent to 118 days of sales while Buick had an inventory of Enclaves equivalent to just 27 days. “It just shows you how the best laid plans go awry,” Lutz said.
