Customers are Willingly Paying More for the Malibu than Camry
It’s turning the tables on Toyota: according to General Motors, the average selling price for a 2008 Chevrolet Malibu, $20,954, is more than the average selling price for a 2008 Toyota Camry.
In fact, it’s $200 more.
The claim was made by Ed Peper, the general manager of Chevrolet. The price to which he was referring is the “transaction price,” which is the actual sales price, after taking into account any manufacturer discounts and incentives, as well as any discounts made by the dealer in the selling price.
Further glory is coming from “conquest” sales – sales to owners trading in a non-GM brand. Fully 38% of Malibu sales are to owners trading in a non-GM brand vehicle. Most commonly, the trade is a Camry.
(more after jump)
Peper commented that the Malibu is selling to a buyer with more education than the typical purchaser of the previous model, and is selling with higher levels of trim and options.
The prices at which the new Malibu are selling, according to the Detroit Free Press, exceed the typical prices of the past model by about $4000.
And, of course, the figures have one other significance:
If you’re looking for a used Camry, maybe you ought to check your Chevy dealer.