For 1978, Chevrolet slashed 13 inches and 700 lbs from the Monte Carlo and declared,  “You don’t have to be extravagant to be elegant.”

Introduced in 1970, the Chevrolet Monte Carlo brought a new level of affordability to the personal luxury category. (See our feature here.) Naturally, the segment lost some of its exclusivity in the process, but the Chevrolet division at General Motors racked up millions of sales nonetheless. For 1978, the third generation of Monte Carlo, the package received a significant downsizing along the with rest of the GM  A-body mid-size products. Now 13 inches shorter and 700 lbs lighter, this new Monte offered “a new dimension in affordable luxury,” according to Chevrolet.

With a base price of $4,785, the ’78 Monte Carlo was $183 cheaper than in ’77. But now the coupe rode on the same 108.1-in wheelbase as the rest of the A-bodies, so the long hood/short deck proportions, identifier of the personal-luxury class, were diminished. While  the Chevrolet stylists did a fair job in disguising it, from some angles the new Monte looked downright stubby compared to the ’73-’77 Colonnade cars of the previous generation. On the plus side, the new car’s interior and trunk dimensions were actually larger, especially in the rear seat.

Also gone were the Monte Carlo’s standard V8 engine and automatic transmission. Now the base engine was a 231 cubic-inch Buick-sourced V6, paired to a 3-speed manual transmission. When equipped with the extra-cost V8 (305 cubic inches, 145 hp) and an automatic transmission, the Monte Carlo was really no more affordable than before. But it was still the lowest-priced car in the personal luxury class. There was no secret to how this was accomplished: On the Monte Carlo, many of the usual personal-luxury features were extra-cost options.

In truth there was now an enormous spread in pricing across the category, and in standard features as well. The Cadillac Eldorado, also a personal luxury coupe, was fully loaded and sold for more than twice as much. The Ford Thunderbird, also downsized and de-contented in 1977, started at $5,498 in stripped-down form, but quickly jumped up to nearly $9,000 when equipped in true personal-luxury trim. The same was true for the Monte Carlo: With air conditioning, a deluxe interior, and the power accessories to be expected in a personal luxury car, the price could easily climb over the $8,000 mark.

In a January 1978 road test, the editors of Car and Driver magazine declared the new, smaller Monte an improvement over the previous model. Terry Cook praised the more nimble handling and roomier interior, but described the red crushed-velour interior on the test car as “tacky.” Really, the writers were mocking the Monte Carlo’s basic premise as a bargain luxury car, calling it “imitation luxury” and “a bon-bon for the masses.” Patrick Bedard was especially savage. “Chevrolet has indeed let loose a blight upon the landscape,” he wrote. “A steaming pile,” he added. The Monte Carlo was not a Car and Driver kind of car, fair to say.