Well I was reading a car magazine (Car & Driver) and they mentioned something about a new compact Chevrolet for 2010-11. So I went online to do some research and found this
http://www.motortrend.com/future/spied_vehicles/112_0806_2011_chevrolet_compact/- index.html
and as it turns out the Cobalt name is going bye-bye with the next generation of small Chevy! It also mentions that the new car will get a MPG of about 32/43, which is impressive considering it has 150 HP and is not a hybrid. Sounds pretty prosmising to me, but let's just hope it's not as disappointing as the current Cobalt was.

P.S. the article also talks about a replacement for the Korean-made Aveo which is also supposed to debeut around 2011 or so.


EDIT: Checked wikipedia, and apperantly the new Cobalt will be renamed "Cruze" http://en.wikipedia.org/wiki/Chevrolet_Cruze
and will also replace the Chevrolet Lacetti in Europe, making this a true "world car"