Technically, it's a Corolla hatchback, but it's really yet another remnant of a pre-bailout partnership gone awry.
Back in 2002, GM and Toyota teamed up to make a hatchback that would replace the automakers' Geo Prism and create a precursor to the small crossover vehicles of today. The Matrix and GM's Pontiac Vibe were supposed to bring the station wagon into the new age by making it taller, slimmer and more fuel efficient.It was a grand idea until about 2010, when GM's bankruptcy and bailout forced it to shed brands and models. When GM killed off Pontiac, the Vibe went with it. Meanwhile, Toyota's Matrix found its sales eaten away by Toyota's own RAV-4, its Camry-based crossover Venza, a revamped Yaris compact and a new wagon version of the Prius hybrid. The Matrix hadn't been redesigned since 2009 and its name traces back to a movie franchise that hasn't produced a new installment since 2003. For what was supposed to be an innovative concept, the Matrix sure got dated in a hurry.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts