GM's First Mover Disadvantage

When General Motors emerged from bankruptcy, Chief Executive Officer Daniel Akerson found himself running a company with improved finances but woefully short of exciting new models to sell. Then he saw the redesigned 2013 Chevrolet Malibu still under development. Akerson figured that if he rushed the midsize sedan to market in February 2012, the Malibu’s slick interior and sculpted styling could attract buyers. The timing seemed ideal: Japanese rivals were still restocking dealers in the wake of a devastating earthquake in early 2011, and Ford Motor, Honda Motor, and Nissan Motor wouldn’t have their revamped midsize offerings ready until fall 2012.

Not all of the model’s various versions were ready for production. So Akerson rolled out only the pricier Eco version of the Malibu in February, one with some hybrid-like features that costs almost $3,000 more than the line’s $23,150 base model. The less expensive variants—the ones most people will actually buy—are only now arriving on car lots.