Mine stopped working as well. I do use it on occasion and have no problem with it holding my drinks.

Got some industrial strength velcro (designed to stick to porous surfaces) and applied a small strip to the front edge and another to the front lip. It is a little stiff opening, but it no longer opens by accident when I brush it with my elbow.

BTW replacing it would cost about $100 plus the time ripping the console apart. Total cost for the velcro $2.99.