Chevy Raises Prices on 2008 Malibu
What do you do after winning Car of the Year honors and having to add a second plant that works two shifts just to keep up with orders?
Why, you raise prices, of course. That’s exactly what Chevrolet did, upping the price of its 2008 Malibu sedan by $300 for cars built after April 2. The company's website is already showing the new price predominantly while the old price is still showing up in certain areas as shown above.
Chevy would only say that periodic "price adjustments" are common, but Aaron Bragman, an analyst with Global Insight, said the reason for raising the price of a car whose sales were up 110% in the first quarter of this year is obvious.
"Chevy has a hot model that they think they can get $300 more for, and they’re right,” Bragman said. "Chevy isn't getting the revenue it used to get from trucks because trucks aren't selling as well. They have to replace money not coming in from trucks with revenue from somewhere else, and that's what cars have to do for them."
Chevy also raised prices on the Cobalt, HHR and Impala, but wouldn't say how much. Dealer sources said they were far less than the Malibu.
"As the market shifts from trucks, cars are going to have to account for more profit at Chevy," Bragman said.