The Prizm name tag used to be attached to Geo, but Geo dropped it in 1997 and the next year the Prizm name became a Chevrolet product. This compact sedan now is produced by Chevy along with Toyota in a GM/Toyota collaboration plant. Both the Toyota Corolla and the Chevrolet Prizm are made in this plant. For 1998 both of tem are all new, the front-wheel drive subcompact Prizm looks almost exactly like the corolla and has not a trace of what it looked like in the past. Chevrolet might be hoping that the Corolla sales success might rub off a bit in the Prizm. The Prizm is a solid alternative to a renowned Japanese car that has a legacy and a history of success but with a lower price tag.
The Prizm now is slightly longer than its previous design; it's also a bit taller and a bit wider giving it more space for the interior and the cargo. Once again two trim levels were given like it was with the Geo; there is the base trim and the upper level LSI trim, both of which could handle 5 passenger seating capacity. The interior promises a comfortable surrounding, leg and headroom is sufficient and all gauges and instruments are driver-friendly and easy to reach. The cargo space is average for the segment but the wide trunk opening makes it easier for things to be placed in or out. Though the exterior is not as flashy as other sedans, the Prizm, like the corolla wanted a simple people mover that can get the job done and get it done right.
Pushing the Prizm on the road is a single twin-cam 4-cylinder engine, which produces 120 horsepower and 122 pound-feet of torque, this engine powers both trims. Previously, the Prizm had two engines choices, but both of them produced less power than the new one. Controlling this power is the standard 5-speed manual, although, there is an optional 3-speed and 4-speed automatic transmission. All that amounts to a performance that is spirited and could go head to head with other cars in its segment. The added energy to the Prizm made it faster and stronger in acceleration than its predecessors. When a Variable Valve Timing was installed in 2000 the Prizm was granted additional horsepower making it even better. This is one of the benefits the Prizm got with its collaboration with Toyota, plus the recognition of Toyota's reputation for durability and reliability has rubbed off a bit with the Chevrolet Prizm. These boosted sales of the Prizm but by 2002 wavering sales had made it a tough decision for Chevrolet and the final decision was to totally drop the whole line.