Maintaining the Chevelle’s new body configuration with minor changes, (including a new grille, taillights and rear bumper) the Malibu was moved down to the entry-level position for the Chevelle model in 1974, following the discontinuation of the Deluxe model.

The top-of-the-line Chevelle model was now named the Malibu Classic, with the Laguna nameplate moving down to the more “sporty” trim level. The Laguna S3 was now in production in place of the SS model.