BonzoHansen
09-07-2007, 10:24 AM
I saw it in the new C&D, looks pretty nice. They are encouraging dealers to have a new Camry on the lot so buyers can compare the cars right there, and even drive both cars. Ballsy.
Related article:
GM Boosts Malibu Price Amid Bid To Gain Steam In Sedan Race
08/30 5:51 am (ON)
Story 1039 (F, GM, HMC, TM)
By John D. Stoll Of DOW JONES NEWSWIRES
DETROIT -(Dow Jones)- General Motors Corp. (GM) will raise the price on the Chevrolet Malibu by 11% when a redesigned version of the sedan goes on sale in November, taking the base cost of the vehicle higher than the segment-leading Toyota Camry.
The move comes as the auto maker - which had previously been cutting prices to better appeal to consumers - makes a big bet on a willingness among buyers to pay more for a domestic vehicle that has significantly enhanced styling and features. The gamble comes as the overall light-vehicle market shrinks under the weight of high fuel prices and credit woes, and as GM still suffers from lingering concerns in the market place related to quality and other issues.
GM has attached a $19,995 base price tag to the new Malibu, fulfilling a promise it made earlier this year when it said it will offer a car it thinks looks like a $40,000 at half the price. Company officials have been calling the new Malibu launch one of the more critical launches in recent history. The launch is expected to fuel the auto maker's attempt to edge in on a cut-throat midsize sedan segment that is currently dominated by Japanese models.
Mark DeGeorge, a sales manager at Beaty Chevrolet in Knoxville, Tenn., said there have been several inquiries about the new Malibu, and said those buyers are eager to see the vehicle's new features and design. When asked if prospective buyers will be ready to pay more for the car, he said, "We'll just have to wait and see.'
For much of the market, GM's price hike could be seen as a reversal of strategy. In January of 2006, GM cut the price on a majority of its models as part of a wide "value pricing" scheme. The move has helped the auto maker reduce its reliance on profit-draining incentives, but GM continues to lose U.S. market share and is running behind its retail-sales goal for 2007.
GM spokesman Terry Rhadigan said the auto maker is not backing away from its value pricing approach. He said the auto maker sticks to its goal of offering the best car for the best value in every segment it competes in.
The new Malibu's base price tag is $2,000 higher than the current vehicle it replaces, and hundreds of dollars more than Toyota Motor Corp.'s (TM) Camry sedan and Ford Motor Co.'s (F) Fusion sedan. Rhadigan said direct comparisons against competitors' base models are not necessarily fair because of a differential in standard equipment.
While GM is asking buyers to pay more forthe base version of its new Malibu, Rhadigan insisted that GM's new sedan is much more favorably priced when the most popularly equipped models are taken into account. He said buyers will appreciate several new features in the Malibu, including improved safety and entertainment packages, and better overall design for the exterior and interior.
GM also released pricing for a hybrid edition of the Malibu. The base version of that vehicle will cost $22,790, far less than the Toyota Camry hybrid and about even with the Toyota Prius, which is the best-selling hybrid in the U.S. GM has been slow to launch hybrid-electric vehicles, but is ramping up its effort late in the decade as it releases several models.
The new Malibu will have an additional dose of competition as Honda Motor Corp. (HMC) also is launching a redesigned version of the Accord, its best-selling midsize sedan.
The Accord and Camry together own 25% of the mainstream midsize car segment in the U.S., according to Autodata Corp. Domestic auto makers typically have dominated the light-truck market, but are ramping up efforts in the passenger-car segments as demand for fuel-efficient vehicles surges.
-By John D. Stoll, Dow Jones Newswires; 313 -226 -1249; john.stoll@dowjones.com
(END) Dow Jones Newswires
08 -30 -07 1751ET
Copyright (c) 2007 Dow Jones & Company, Inc.
Related article:
GM Boosts Malibu Price Amid Bid To Gain Steam In Sedan Race
08/30 5:51 am (ON)
Story 1039 (F, GM, HMC, TM)
By John D. Stoll Of DOW JONES NEWSWIRES
DETROIT -(Dow Jones)- General Motors Corp. (GM) will raise the price on the Chevrolet Malibu by 11% when a redesigned version of the sedan goes on sale in November, taking the base cost of the vehicle higher than the segment-leading Toyota Camry.
The move comes as the auto maker - which had previously been cutting prices to better appeal to consumers - makes a big bet on a willingness among buyers to pay more for a domestic vehicle that has significantly enhanced styling and features. The gamble comes as the overall light-vehicle market shrinks under the weight of high fuel prices and credit woes, and as GM still suffers from lingering concerns in the market place related to quality and other issues.
GM has attached a $19,995 base price tag to the new Malibu, fulfilling a promise it made earlier this year when it said it will offer a car it thinks looks like a $40,000 at half the price. Company officials have been calling the new Malibu launch one of the more critical launches in recent history. The launch is expected to fuel the auto maker's attempt to edge in on a cut-throat midsize sedan segment that is currently dominated by Japanese models.
Mark DeGeorge, a sales manager at Beaty Chevrolet in Knoxville, Tenn., said there have been several inquiries about the new Malibu, and said those buyers are eager to see the vehicle's new features and design. When asked if prospective buyers will be ready to pay more for the car, he said, "We'll just have to wait and see.'
For much of the market, GM's price hike could be seen as a reversal of strategy. In January of 2006, GM cut the price on a majority of its models as part of a wide "value pricing" scheme. The move has helped the auto maker reduce its reliance on profit-draining incentives, but GM continues to lose U.S. market share and is running behind its retail-sales goal for 2007.
GM spokesman Terry Rhadigan said the auto maker is not backing away from its value pricing approach. He said the auto maker sticks to its goal of offering the best car for the best value in every segment it competes in.
The new Malibu's base price tag is $2,000 higher than the current vehicle it replaces, and hundreds of dollars more than Toyota Motor Corp.'s (TM) Camry sedan and Ford Motor Co.'s (F) Fusion sedan. Rhadigan said direct comparisons against competitors' base models are not necessarily fair because of a differential in standard equipment.
While GM is asking buyers to pay more forthe base version of its new Malibu, Rhadigan insisted that GM's new sedan is much more favorably priced when the most popularly equipped models are taken into account. He said buyers will appreciate several new features in the Malibu, including improved safety and entertainment packages, and better overall design for the exterior and interior.
GM also released pricing for a hybrid edition of the Malibu. The base version of that vehicle will cost $22,790, far less than the Toyota Camry hybrid and about even with the Toyota Prius, which is the best-selling hybrid in the U.S. GM has been slow to launch hybrid-electric vehicles, but is ramping up its effort late in the decade as it releases several models.
The new Malibu will have an additional dose of competition as Honda Motor Corp. (HMC) also is launching a redesigned version of the Accord, its best-selling midsize sedan.
The Accord and Camry together own 25% of the mainstream midsize car segment in the U.S., according to Autodata Corp. Domestic auto makers typically have dominated the light-truck market, but are ramping up efforts in the passenger-car segments as demand for fuel-efficient vehicles surges.
-By John D. Stoll, Dow Jones Newswires; 313 -226 -1249; john.stoll@dowjones.com
(END) Dow Jones Newswires
08 -30 -07 1751ET
Copyright (c) 2007 Dow Jones & Company, Inc.