I bought a '96 Cavalier (new). I have about 70,000 miles on it and it has never broken down. It has only required regular maintenance/oil changes. Sure, it's not very sporty. Sure, it handles like a pregnant cow. Sure, it moves as fast as a crippled turtle. But hey - it's only a Cavalier!
I bought it because it was a good, cheap, new car, and let me have lots of features that I wouldn't be able to afford in an import. I was hoping it wouldn't break down - and it sure hasn't. Even if it does (and for regular maintenance) - parts and labour are cheap since it's such a popular car.
My biggest con with this car is that recent safety tests have shown terrible results in side impact collision tests. At the time we bought the car, these tests hadn't been done so we had no way of knowing. The car performs reasonably on front impact tests. We are thinking of buying a new card just for safety issues.
By the way, this car is a Canadian car, but I think they're all churned out of the same factory so it shouldn't make a difference.