2011 Chevy Cruze Priced at $16,275, LTZ Costs $22,695

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Chevrolet announced the starting price of the all-new Chevy Cruze compact today, and it might be shocking to some. The $16,275 price tag, before a $720 destination fee, is considerably higher than the outgoing Cobalt it replaces — $14,990 — but it’s also a larger vehicle with better gas mileage.

The price bump puts it about $1,000 higher than the Mazda3, and we’d guess Ford will price its upcoming 2011 Focus somewhere in between or higher than the Cruze, which goes on sale in September. A Honda Civic VP starts at $16,405, and a range-topping Civic EX-L is $21,005.

The base price gets you a manual transmission LS model; a six-speed automatic is standard in the $18,175 LT. The highly touted Eco model, which is expected to get 40 mpg highway with aerodynamic enhancements, also will start at $18,175.

Check out the price and equipment breakdowns from Chevy below, including the top-of-the-line LTZ. Then let us know in the comments if you think the price is too high or just right. We’re more surprised that features such as USB input aren’t standard on more trim levels at this price point rather than the prices themselves.