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Price of used Malibu jumps 35%

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Price of used Malibu jumps 35%

Arlena Sawyers

Automotive News -- May 17, 2010 - 12:01 am ET

Used-vehicle prices of some recently redesigned GM vehicles are rising faster than those of their competitors.

For example, data from Black Book shows that the average wholesale price of a 2-year-old Chevrolet Malibu was $12,850 in early May, up 35 percent compared with the price of a 2-year-old Malibu in early May 2009.

A 2-year-old Honda Accord had an average wholesale price of $16,050 earlier this month, 24 percent more than its 2-year-old price in 2009. The average wholesale price of a 2-year-old Toyota Camry was $12,825, 10 percent below the price of a comparable Camry a year earlier.

Still, in April, Toyota Division racked up its best certified month -- selling 31,090, up 44 percent. Through four months, Toyota Division increased its certified sales 13 percent to 95,383.

Read more: http://www.autonews.com/article/20100517/RETAIL04/305179996/1433#ixzz0oBrYlWtW

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This has more to do with the price of all used cars going through the roof and bring in demand than just a chevy malibu thing. Especially affordable cars. It's still good though. Glad to see the camry tank. I bet once the current gen accords hit auction en masse too they will drop. People liked the previous gen better than the current gen so there is prob a demand to get one before the ugly ones take over the used market.

I used to think chevy should have extended the current body style Malibu a couple yeArs with interior and powertrain changes. But now I think the new one arriving soon is a good thing because it will continue to build strong resale for the Malibu name overall.

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As far as the Malibu, I think it's partly due to the generational change--i.e. a 2yr old Malibu in May 09 would be an '07, which was the previous generation? While a 2yr old Malibu now would be an '08...

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I agree with both of you, it does have something to do with the prices of used cars rising and with the 2yr old model now being the much improved current generation. I would also ad it has to do with GM's bankruptcy since they have started repairing their reputation compared with a year ago when everyone was worried about the effect of a GM bankruptcy. This action also included with closure of many GM dealers (less cross shopping for certified used means dealers compete with themselves less) and positive reviews of the current Malibu that have accrued over the past two years. The recent advertising helps as well because I would bet many people who look at the new 2010 model may be likely to look at the used models once they get onto the lot and see the certified used program's benefits.

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This has more to do with the increase in the new cost of the car to a point. But it also reflects more to do with increased demand for this car.

There are plenty of other GM cars that are 2 years old that have not increase with the used car market. The Pontiac Grand Prix has tanked. The LS and LT HHR is down, The Cobalt is not on the chart. The Impala and Monte Carlo are really cheap.

The Malibu is the first sedan they have made for a long time that people want because it is of a quality worth wanting for once. This is only the first step in recovery here. This is something that other GM cars like the new Nox and other well recieved cars will show in the future. GM finally has used cars that were built better and not whored out on fleet sales till no one wanted them.

Many people today just can not afford a new car anymore with the economy as it is. They want a solid used car and the Malibu today make a attractive car on the used car lot vs GM past abominations.

Used car prices are not up everywhere. Here you can get some real good buys on the used market. We are a dumping ground for turn in lease cars here. I just looked at a 2 year old Enclave with 22,000 miles for $27,000.

Either way I think we should give the Malibu more credit for the increased value since it a much better car. If it was of the quality of the old Malibu it would have not gained anything in market value.

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As far as the Malibu, I think it's partly due to the generational change--i.e. a 2yr old Malibu in May 09 would be an '07, which was the previous generation? While a 2yr old Malibu now would be an '08...

I think so. A 2 year old version of the current Malibu is going to more desirable than the last generation Malibu. It isn't like prices of 08 Malibus went up 35%.

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This has more to do with the increase in the new cost of the car to a point. But it also reflects more to do with increased demand for this car.

There are plenty of other GM cars that are 2 years old that have not increase with the used car market. The Pontiac Grand Prix has tanked. The LS and LT HHR is down, The Cobalt is not on the chart. The Impala and Monte Carlo are really cheap.

The Malibu is the first sedan they have made for a long time that people want because it is of a quality worth wanting for once. This is only the first step in recovery here. This is something that other GM cars like the new Nox and other well recieved cars will show in the future. GM finally has used cars that were built better and not whored out on fleet sales till no one wanted them.

Many people today just can not afford a new car anymore with the economy as it is. They want a solid used car and the Malibu today make a attractive car on the used car lot vs GM past abominations.

Used car prices are not up everywhere. Here you can get some real good buys on the used market. We are a dumping ground for turn in lease cars here. I just looked at a 2 year old Enclave with 22,000 miles for $27,000.

Either way I think we should give the Malibu more credit for the increased value since it a much better car. If it was of the quality of the old Malibu it would have not gained anything in market value.

having just shopped for used cars here....nothing is down. not even impalas or grand prixs. as much as i knew i didn't want to, i couldn't resist the urge and shopped used grand prixs. you cant find one with under 30k miles for under 15 grand hardly. this is a car that YOU COULD buy 21 months ago with less miles for the same or less money. Part of the reason i said fk it and bought the cobalt is because there is spending money, and there is spending money badly. 16 grand for a 2008 Grand Prix that was a fleet whore and had few options but had 45000 miles makes no sense because in 18 months when the market shifts again good luck getting 6 grand offer on a trade.

When i turned in my 500 Aug 2008 the buyout was 16 grand on a 28,500 MSRP. I wanted to buy the car but thought it was a ripoff since used cars in that period of time just 21 months or so ago, i could have bought the exact same car used retail for like 12,500-13,500. There was even some low mile lesser equipped 500's barely over 10 grand. Now you can't touch it for 10 grand unless its got 110,000 miles on it seemingly.

Used Auras and Impalas with even 30,000 miles on them are going for 17, 18, 19 grand. Forget a v6, they will want 23, 24 thousand for that car that is almost out of warranty.

Even the used CObalts are bloated on the market here. Used 08 and 09 CObalts with some nice options like the SS non turbo package or the leather and sunroof equipped ones for 14-16 grand and they have buttloads of miles on them already.

Maybe the very best example i can give. Fall 08 when i was looking u could have easily found several low mile rental return base model Avengers and Sebrings in the 10-11,000 dollar range. I even stooped to that this time around and the SAME exact cars are at least 3-4 grand higher on the used market. Rental return basic Avengers with 30k miles are at least 13 grand. I figured for 10 grand I could make sacrifices in my life and drive a chrysler product, especially an avenger, but the avengers are now 33% higher than they used to be.

I'm a bit torqued today. The used car lot that had a used HHR I wanted but wouldn't come down a thousand like i told them i would do, sends me an email today and said they just marked the car down to the price i wanted. Turkeys. Where were they 3 weeks ago?

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having just shopped for used cars here....nothing is down. not even impalas or grand prixs. as much as i knew i didn't want to, i couldn't resist the urge and shopped used grand prixs. you cant find one with under 30k miles for under 15 grand hardly. this is a car that YOU COULD buy 21 months ago with less miles for the same or less money. Part of the reason i said fk it and bought the cobalt is because there is spending money, and there is spending money badly. 16 grand for a 2008 Grand Prix that was a fleet whore and had few options but had 45000 miles makes no sense because in 18 months when the market shifts again good luck getting 6 grand offer on a trade.

When i turned in my 500 Aug 2008 the buyout was 16 grand on a 28,500 MSRP. I wanted to buy the car but thought it was a ripoff since used cars in that period of time just 21 months or so ago, i could have bought the exact same car used retail for like 12,500-13,500. There was even some low mile lesser equipped 500's barely over 10 grand. Now you can't touch it for 10 grand unless its got 110,000 miles on it seemingly.

Used Auras and Impalas with even 30,000 miles on them are going for 17, 18, 19 grand. Forget a v6, they will want 23, 24 thousand for that car that is almost out of warranty.

Even the used CObalts are bloated on the market here. Used 08 and 09 CObalts with some nice options like the SS non turbo package or the leather and sunroof equipped ones for 14-16 grand and they have buttloads of miles on them already.

Maybe the very best example i can give. Fall 08 when i was looking u could have easily found several low mile rental return base model Avengers and Sebrings in the 10-11,000 dollar range. I even stooped to that this time around and the SAME exact cars are at least 3-4 grand higher on the used market. Rental return basic Avengers with 30k miles are at least 13 grand. I figured for 10 grand I could make sacrifices in my life and drive a chrysler product, especially an avenger, but the avengers are now 33% higher than they used to be.

I'm a bit torqued today. The used car lot that had a used HHR I wanted but wouldn't come down a thousand like i told them i would do, sends me an email today and said they just marked the car down to the price i wanted. Turkeys. Where were they 3 weeks ago?

You need to come to northern Ohio.

Prices here are bad on many used cars. I have a buddy who just bought a HHR LT2 for $12,000 with 7,000 miles. It stickered in 08 for $23,000. Another buddy was shopping GXP GP's and he could find many for $12,000-15,000. He bought a GXP Bonnie for $14,000.

Witht the priced in this are on most GP I will be lucky to get much out of my 04 GTP.

The dealer I spotted the Enclave at for under $30,000 had rows of Arcadia's, Relays and SRX's all for under $30,000 with 30,000 miles or less and all under 2 years old.

I just saw a SSR the other day with 21,000 miles for under $25,000.

Turbo SS Cobalts with under 15,000 miles for $15,000.

Saab 9-7 for $21,000 including a low mileage Aero.

Here is a 05 GTP in the autotrader here now that I am looking at for $9,995. Next to it is a 07 G5 GT for $7,495.

Here is a 07 Impala $13,973. 07 Monte LT2 $14,973.

I believe you that there are high prices in your area but in this area it is not holding true. With the number of dealers getting lease turn in's here it makes for good pickings on used cars. The neighbor just got a Trailblazer in January for $17,000 with only 20,000 miles loaded. It is spot less and was like new.

I want higher prices so when I sell the GTP this fall I can get top dollar. Right now there are so many GP's for sale here that the resale price is horrible.

Edited by hyperv6

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You need to come to northern Ohio.

Prices here are bad on many used cars. I have a buddy who just bought a HHR LT2 for $12,000 with 7,000 miles. It stickered in 08 for $23,000. Another buddy was shopping GXP GP's and he could find many for $12,000-15,000. He bought a GXP Bonnie for $14,000.

Witht the priced in this are on most GP I will be lucky to get much out of my 04 GTP.

The dealer I spotted the Enclave at for under $30,000 had rows of Arcadia's, Relays and SRX's all for under $30,000 with 30,000 miles or less and all under 2 years old.

I just saw a SSR the other day with 21,000 miles for under $25,000.

Turbo SS Cobalts with under 15,000 miles for $15,000.

Saab 9-7 for $21,000 including a low mileage Aero.

Here is a 05 GTP in the autotrader here now that I am looking at for $9,995. Next to it is a 07 G5 GT for $7,495.

Here is a 07 Impala $13,973. 07 Monte LT2 $14,973.

I believe you that there are high prices in your area but in this area it is not holding true. With the number of dealers getting lease turn in's here it makes for good pickings on used cars. The neighbor just got a Trailblazer in January for $17,000 with only 20,000 miles loaded. It is spot less and was like new.

I want higher prices so when I sell the GTP this fall I can get top dollar. Right now there are so many GP's for sale here that the resale price is horrible.

You must live in the Cleveland area. I don't know what it is about that area but everything is cheap there. I take it the Cobalt SS was a coupe? I'd like to find a good '09 Cobalt SS sedan or '08 HHR SS manual. The only turbo Cobalt SS sedan in the metro Detroit area $20k. I priced out a new one in Feb. 09 and could have had it for $19k with LSD. Good luck finding a used G8 cheap as well. I could have bought a new V6 base model for probably $19-20k a year ago. Now the lowest asking price for a USED 2008-9 is $22k. Damn it!

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You must live in the Cleveland area. I don't know what it is about that area but everything is cheap there. I

Probably has a lot to do w/ the bad economy in NE Ohio... it was bad when I left the Akron area in '94 and moved to Michigan, worse now.

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You must live in the Cleveland area. I don't know what it is about that area but everything is cheap there. I take it the Cobalt SS was a coupe? I'd like to find a good '09 Cobalt SS sedan or '08 HHR SS manual. The only turbo Cobalt SS sedan in the metro Detroit area $20k. I priced out a new one in Feb. 09 and could have had it for $19k with LSD. Good luck finding a used G8 cheap as well. I could have bought a new V6 base model for probably $19-20k a year ago. Now the lowest asking price for a USED 2008-9 is $22k. Damn it!

Close Akron.

The SS was in Akron about a month ago. THe guy I worked with was looking at it but Did not buy it. It was a Coupe. Not long ago a Cleveland dealer was asking $18,999 for new Cobalt SS. They had 3 at that price.

Here is a HHR SS that is not bad. http://www.autotrader.com/fyc/vdp.jsp?ct=p&car_id=275757740&dealer_id=65080471&car_year=2008&rdm=1274368447112&lastStartYear=1981&model=AVEO&num_records=50&systime=&make3=CHEV&make2=CHEV&highlightFirstMakeModel=&start_year=2005&keywordsfyc=&keywordsrep=&engine=&certified=&body_code=0&fuel=&awsp=false&search_type=used&distance=25&marketZipError=false&model3=HHR&model2=COBALT&search_lang=en&sownerid=54844888&showZipError=y&make=CHEV&keywords_display=&color=&page_location=findacar%3A%3Aispsearchform&min_price=&drive=&default_sort=priceDESC&seller_type=p&max_mileage=&style_flag=1&sort_type=priceDESC&address=75248&advanced=&end_year=2009&doors=&transmission=&max_price=&cardist=17&standard=false

I had a HHR SS here in Ohio two wheeks ago for $17,000 with low miles and one with near 40,000 miles some where on the web for only $14,000.

Like I said I hope the high used prices come here by fall. The wife wants a new Nox. I need the used price up and the new Nox to come down. They are only wanting to come off $500 on the sticker. I will wait them out, I only have 80,000 on the GTP and it is running fine.

Edited by hyperv6

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yeah, new g8's 18 months ago were closer to 20 than 25 grand. i see used g8's listed here, even the v6 ones they want 25+ no matter the miles.

another used car i shop a lot is the dodge magnum. those used to be a steal here because they were fleet whores, and they were rwd which never sells here so they have to drop the price big time to move them. a one or two year old magnum rwd v6 and with few miles could be had if you looked for like 13. Not even that is available anymore.

kinda sucked because i really like the magnum but again i am not gonna overpay. and i wanted an 08, those are rare now.

another used one i shopped a lot was the mitsubishi endeavors used. they were fleet whores and literally used to have hundreds of the off lease and rental ones available. i was always able to find one with about 4 years of BTB warranty left on it, and AWD, and around 15k miles for about 17 grand. Maybe as low as 15 grand if you wanted just the FWD model.

Now, you can't find ANY hardly under 40,000 miles and even those are priced higher than 2 years ago.

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This has more to do with the increase in the new cost of the car to a point. But it also reflects more to do with increased demand for this car.

There are plenty of other GM cars that are 2 years old that have not increase with the used car market. The Pontiac Grand Prix has tanked. The LS and LT HHR is down, The Cobalt is not on the chart. The Impala and Monte Carlo are really cheap.

The Malibu is the first sedan they have made for a long time that people want because it is of a quality worth wanting for once. This is only the first step in recovery here. This is something that other GM cars like the new Nox and other well recieved cars will show in the future. GM finally has used cars that were built better and not whored out on fleet sales till no one wanted them.

Many people today just can not afford a new car anymore with the economy as it is. They want a solid used car and the Malibu today make a attractive car on the used car lot vs GM past abominations.

Used car prices are not up everywhere. Here you can get some real good buys on the used market. We are a dumping ground for turn in lease cars here. I just looked at a 2 year old Enclave with 22,000 miles for $27,000.

Either way I think we should give the Malibu more credit for the increased value since it a much better car. If it was of the quality of the old Malibu it would have not gained anything in market value.

Very true...

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yeah, new g8's 18 months ago were closer to 20 than 25 grand. i see used g8's listed here, even the v6 ones they want 25+ no matter the miles.

another used car i shop a lot is the dodge magnum. those used to be a steal here because they were fleet whores, and they were rwd which never sells here so they have to drop the price big time to move them. a one or two year old magnum rwd v6 and with few miles could be had if you looked for like 13. Not even that is available anymore.

kinda sucked because i really like the magnum but again i am not gonna overpay. and i wanted an 08, those are rare now.

another used one i shopped a lot was the mitsubishi endeavors used. they were fleet whores and literally used to have hundreds of the off lease and rental ones available. i was always able to find one with about 4 years of BTB warranty left on it, and AWD, and around 15k miles for about 17 grand. Maybe as low as 15 grand if you wanted just the FWD model.

Now, you can't find ANY hardly under 40,000 miles and even those are priced higher than 2 years ago.

The G8 V6 here about a year ago was $23,000 new now they are hard to find.

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Very few G8s around here...very strange. Collecters, I guess....

I really think it is more that there is still demand for the car in some volume and people are just buying what they can find. Lets face it the car just got started and then was killed.

This may be why Chevy is looking to do a limite volume of them.

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One big factor in higher used prices is the annual sales numbers were way down for 2008/09, so there are fewer '2 year old cars' for sale. Also, rental companies are keeping cars longer and not getting the huge bulk orders from Big 3 anymore.

The last 2008 GP ran off the assembly line over 2 years ago [Dec '07?], and miles pile up. The base V6 GP's were 'fleet only' then, so there won't be any 'church lady' 18K mile ones anywhere. OTOH, there are loads of used 08-09 Impalas, but prices are higher then two years ago.

To those missing the cheap 'bargains' of used rentals, reminder that GM went bankrupt dumping cars into fleets and the poor resale. Anyone who bought a 2008 Malibu would be glad to see it have good resale, compared to the old rental queen Malibus. [Especially the 1997-2003 N body, those are all over the 'hoods]

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One big factor in higher used prices is the annual sales numbers were way down for 2008/09, so there are fewer '2 year old cars' for sale. Also, rental companies are keeping cars longer and not getting the huge bulk orders from Big 3 anymore.

The last 2008 GP ran off the assembly line over 2 years ago [Dec '07?], and miles pile up. The base V6 GP's were 'fleet only' then, so there won't be any 'church lady' 18K mile ones anywhere. OTOH, there are loads of used 08-09 Impalas, but prices are higher then two years ago.

To those missing the cheap 'bargains' of used rentals, reminder that GM went bankrupt dumping cars into fleets and the poor resale. Anyone who bought a 2008 Malibu would be glad to see it have good resale, compared to the old rental queen Malibus. [Especially the 1997-2003 N body, those are all over the 'hoods]

Agree the economy and the auto companies getting off fleets are cutting many models.

Cash for cluncker was a factor for a while but then the lower car sales just added trade in's after the fact too. My locl body man told me the cash for clunckers amy have helped some but it nearly killed his buisness. He was dead for 6 months as people were trading in vs repair. He had to lay off people due to the lack of work. He is just now back to where he should be. The Cash for clunckers is like everything else. You cam make numbers look good if you jumble them enough and leave out some of the other numbers.

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Talking about Dodge Magnums, I see many converted to taxicabs! But not Chargers or 300s.

Also, buddy has a 2005 Magnum with Hemi, and the tranny died, cost $3000 to fix!!! 100k miles, but still...

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