A vehicle interior component comprising a cover movable relative to a base and a latch mechanism configured for movement within the base for an engaged state and a disengaged state is disclosed. The latch mechanism may maintain the disengaged state after the cover has been released from the base. The latch mechanism may comprise a magnet fixed to and concealed within the cover; the magnet of the base may be concealed within the base. The component may comprise an opening mechanism for opening of the cover upon release of external force from the cover. The opening mechanism may move the latch mechanism within the base. The latch mechanism may extend through an opening in a sidewall of the base to engage the cover to secure the cover to the base.