For 2006, Chevrolet has added a 240hp SS-version to the Malibu / Malibu Maxx line-up. Changes for the remaining versions are minor, with three new exterior and interior colors marking the most obvious changes. In addition, the model-nomenclature has been changed to correspond with the remaining Chevrolet models. The entry-level model is now called LS, while the LTZ marks the top of the line.

The 2006 Chevrolet Malibu Mid-Size Sedan compares to the Ford Fusion, Honda Accord, Hyundai Sonata, Mazda 6, Nissan Altima, and Toyota Camry; while the Malibu Maxx Wagon competes with Audi A6, Dodge Magnum, Mazda 6, Mercedes-Benz E-Class, Subaru Legacy, and Volvo V70.