GM is letting the sun set on its Chevrolet Malibu, once a top-seller in the U.S. [CBS News]
Toyota Motor Corporation (TM)
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Source: CBS News
First introduced in 1964, the Malibu was once the top-selling car in its segment in the U.S., an unwavering presence of family garages nationwide. Professional stock car racers used the Malibu body between 1973 and 1977 for NASCAR competitions, helping drivers win 25 different titles, according to Motor Trend magazine. At its height, the Malibu won Motor Trend Car of the Year 1997 because of its smooth ride, fuel economy and luxury interior. But sales of the Malibu, a midsize sedan, declined in the early 2000s as Americans' preferences turned toward SUVs and pickup trucks. Hoping to jump start sales, GM did a redesign of the Malibu in 2015-16 complete with a lighter 1.5-Liter four-cylinder engine, honeycomb grille and jeweled LED headlights. Sales rose to nearly 230,000 after a redesign for the 2016 model year, but much of those were at low profits to rental car companies. Last year, midsize cars made up only 8% of U.S. new vehicle sales, down from 22% in 2007, according to Motor
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