The Chevrolet Cobalt is available as either a two-door coupe or a four-door sedan, each available in four trims: Base, LS, LT and SS Turbocharged.

The Base, LS and LT trims come standard with a 2.2-liter four-cylinder engine mated to either a five-speed manual or a four-speed automatic transmission. The SS Turbocharged comes with a 2.0-liter turbocharged four-cylinder engine mated to a five-speed manual transmission. The LS trim comes standard with: 15-inch steel wheels, air conditioning, front airbags with side curtain airbags, front bucket seats with a fold down rear seat, and a satellite radio; the Base trim shares all the same standard equipment as the LS except for the lack of air conditioning, making it the value leader in the Cobalt line-up. The LT adds on top of the LS trim: front and rear carpeted floor mats, premium cloth seat trim and power mirrors, windows and door locks with remote keyless entry. The SS Turbocharged has the same content as the LT but further adds: 18-inch aluminum wheels, four-wheel anti-lock disc brakes, a rear spoiler, a leather gear shift knob, a leather steering wheel, cruise control and an upgraded radio.

For 2009 the Chevrolet Cobalt has removed the Sport trim. The 2.2-liter engine now has continuous variable valve timing and an inflator kit is standard on all trims in lieu of a spare tire.