The critical acclaim was nice, but now the made-over Chevrolet Malibu appears to be raking in something General Motors Corp. covets even more: cash.
Car buyers are paying $5,000 more on average for a new Malibu compared to the old models, according to J.D. Power and Associates. And six months after the vehicle's much-hyped launch, the higher prices are holding up despite a rough economy and some tough competition.
It's a singular feat for a new vehicle launch, especially by a domestic automaker with a history of lackluster entries in the midsize sedan segment.
"This is very significant and it's a major plus for GM," said Tom Libby, an analyst with J.D. Power's Power Information Network. "It's rare that you see that much of a jump."
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