2014 Chevy Impala: According to a report by The Globe and Mail, the 2014 Chevy Impala sedan has shown great returns for General Motors Company (NYSE:GM). This new vehicle not only has a great design, but is affordable and has managed to obtain impressive ratings from Consumer Reports. All models, except for the base LS version, come with 306 horsepower, 3.6 liter V-6 engines and start at $29,110.
What impressed the public was not the car itself, but the high rating Consumer Reports and other respected publications gave the Impala. The 2014 model was a big hit for GM, reaching a score of 95 out of 100. Only the BMW 135i and the Tesla Motors Inc (NASDAQ:TSLA) Model S have reached higher values. However, unlike the Impala, these two vehicles are in the luxury segment of the industry. This makes the score achieved by GM’s much cheaper sedan even more valuable for the car manufacturing giant. Also, considering the 2013 Impala only reached a score of 63, a great deal of improvement is evident.
The 2014 Chevy Impala has taken design elements from Buick and Cadillac, which meant taking a totally new approach to the sedan. The older version of the vehicle was rather dull, and driven mainly as a rental car. Offering only very little more than an engine, GM could not trust the public to actually purchase the vehicle. Opposite to previous models, the 2014 model is spinning heads, making up for 80% of the 76% increase in Impala sales. Also, customers are willing to pay more for the improved version, as the average purchasing price for the new sedan is up by more than $8,000 compared to the older model. Tesla’s Model S is living proof that the industry has changed, and customers want quality vehicles, even if the price tag is heftier.
Joe Phillippi of Auto Trends Consulting told the Globe and Mail, “It’s the vehicle that’s going to make your brand statement, which historically was affordable quality.”
Disclosure: Pablo Erbar holds no position in any stocks mentioned