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A Heartfelt Farewell to the Chevy Malibu

Author Anne Erickson
(Photo by Kevin Hagen/Getty Images)

Chevrolet’s last standing sedan, the Chevy Malibu, is going away. This one hurts. The Malibu was synonymous with American culture for decades. But, they say all good things must come to an end, and this is the end for the Malibu.

Chevy Malibu Discontinued: Farewell to the Beloved Sedan

General Motors has announced that it will end production of the Chevy Malibu in November 2024. This is the second time in the mid-size car’s 60-year history that GM is ending its production, as the Malibu has been actively in production from 1964 to 1983 and 1997 to 2024. GM will stop producing the Malibu to focus on its electric vehicles, and the company plans to invest $390 million at its Fairfax Assembly Plant in Kansas for production of the Chevrolet Bolt EV. GM will also pause production of the Cadillac XT4 in early 2025 in Kansas to make the Bolt EV and XT4 on the same assembly line. “To facilitate the installation of tooling and other plant modifications, after nine generations and over 10 million global sales, GM will end production of the Chevrolet Malibu in November 2024 and pause production of the Cadillac XT4 after January 2025,” a GM spokesperson said in a statement.

The Malibu was Chevrolet’s last remaining sedan for sale in the United States. According to Chevrolet, they’ve sold more than 10 million Chevy Malibu cars throughout its nine generations. The only car on Chevy’s line now is the Chevrolet Corvette, which, of course, is their upscale sports car. The Malibu had its sporty moments, too. Professional stock car racers used the Malibu body between 1973 and 1977 in NASCAR competitions, according to the car experts at Motor Trend magazine. The Malibu also scored the honor of Motor Trend Car of the Year 1997 from their vehicle experts.

It’s not just the Chevrolet Malibu. One by one, Chevrolet has been getting rid of its cars, from the Lumina in 2001 to the Impala in 2020 to the Camaro in 2023. The whole thing has me nostalgic. Do you remember the two-door Monte Carlo? That was such a great car. My nana had one, and she gave it to my parents, so it was our car when I was a kid. They ended production of the Monte Carlo in 2008. Don’t get me started on the Pontiac, either. I miss that brand so much. My first car was a white, glorious Pontiac Grand Prix, and it lasted for 250,000 miles. I

Just said goodbye to my very first car, and I don't think I've ever cried so much in my life 💔 pic.twitter.com/7UASJdZu1c

— Anne Erickson (@AnneErickson) October 30, 2020/" target="_blank" rel="noreferrer noopener">cried when I said goodbye to it. Now, I have a Chevy Malibu, so yes, I’m mourning the loss of yet another one of my beloved GM vehicles. Mourn along with me, if you wish.

Do You Have More or Less in Your 401K Than Most People Your Age?

  • Under 25 years old

    In this age group, the average 401K balance is $5,236 and the median is $1,948. You’re obviously just getting your feet wet in investing. Some people fresh out of high school or college probably don’t have anything in their 401Ks at this point.

  • Between 25-34

    In this age group, the average 401K balance is $30,017 and the median is $11,357. This is significantly higher than the under 25 age range. But, it’s definitely not enough to retire on. So, keep grinding.

  • Between 35-44

    In this age group, the average 401K balance is $76,354 and the median is $28,318. Notice the big difference between average and median. Obviously, with the median, that means half of people in that age group have less than $28,318 and half have more.

  • Between 45-54

    In this age group, the average 401K balance is $142,069 and the median is $48,301. This is another one where the average and median are very different. Half of people in that age group have less than $48,301 and half have more.

  • Between 55-64

    In this age group, the average 401K balance is $207,874 and the median is $71,168. Some people “early retire” in this age group. But, only if you have enough cash. People with pensions are sometimes able to retire in this age group. Also, you can receive Social Security retirement benefits as early as age 62.

  • 65 and older

    In this age group, the average 401K balance is $232,710 and the median is $70,620. Since you can receive Social Security retirement benefits as early as age 62, many people do choose to retire when they hit 65.

  • The average and median 401(k) balance by age

    So, there you have it, the average and median 401K balance by age. The stats are from Vanguard’s “How America Saves 2023” report, which offers data on the average and median 401K account balances by age. Find the full report here.

    Happy Senior Old Retired Couple Walking Holding Hands on Beach at Sunset

    Getty Images / dmbaker

Anne Erickson started her radio career shortly after graduating from Michigan State University and has worked on-air in Detroit, Flint, Toledo, Lansing and beyond. As someone who absolutely loves rock, metal and alt music, she instantly fell in love with radio and hasn’t looked back. When she’s not working, Anne makes her own music with her band, Upon Wings, and she also loves cheering on her favorite Detroit and Michigan sports teams, especially Lions and MSU football. Anne is also an award-winning journalist, and her byline has run in a variety of national publications. You can also hear her weekends on WRIF.

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Author Anne Erickson
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