The 2008 Chevy Malibu has snatched up awards and media accolades, and JD Power data shows that customers are paying Chevy dealers handsomely to own one. The average transaction price of a Chevy Malibu is $22,358 -- $5,000 higher than the inherently uncool last-gen 'Bu. Twenty-one percent of buyers are also opting for the top-of-the-line LTZ vs. only 5% for the outgoing model.
The news isn't all rosy, however, as most of these customers are trading in other GM products to get themselves into the North American Car of the Year. Only 1.4% of buyers traded in a Toyota Camry, 1.3% swapped a Nissan Altima, and less than 1% turned in a Honda Accord. Those aren't exactly the kind of numbers GM will want to brag about, but at least the General is pulling in the equivalent of two Tata Nanos more per car than the last generation model did.
[Source: Detroit News]