As was previously part of the Geo line of vehicles that disappeared in 1997, the Chevy Prizm was sold in the United States as a small sedan in short four years from 1998 up to 2002. As a badge engineered version of the Toyota Corolla which is also a replacement of the Geo Prizm, the Chevy Prizm is a front-wheel drive that is built with the same assembly line in the joint GM/Toyota plant in California as the Corolla.

The first Prizm with Chevy plate is longer and a bit taller and wider, and the interior space larger than its clone. Chevy gave it two trims: base and the LSi with both five-passenger seating capacity. The passenger airbag is available to the Prizm which is uncommonly seen in the subcompact division. Standard features are dual airbags, daytime running lights, and front-seatbelt pretensioners with antilock braking as an optional feature. It was powered by a four-cylinder engine that is rated 120 ph with 122 pound-feet of torque in a standard manual transmission with three- or four-speed automatic transmission as an option.

The second year of the Prizm as a Chevy produced no change except for the additional color choices. The 2000 Chevy Prizm is added 5 hp as an upgrade. The tires of the LSi is wider this year at 185/65R14 size. Additional standard feature are power windows, a rear defroster, tilt steering wheel, and a tachometer with outside temperature gauge.

The Chevy Prizm shows little change in 2001 model year with lower anchors for rear child seats and an in-trunk emergency release handle as the only additions for the model. The 2002 Chevy Prizm shows no significant change as it marks its halt in the production line. And in 2003, the Prizm is totally removed from Chevrolet's model list.