|2011 Chevy Volt, $41K for an E-REV|
The price is not surprising, but it is a bit disappointing. I was hoping that with the lower than expected price tag on the Nissan Leaf, GM would be forced to bring it down to at least the mid $35,000 range. Keeping it under forty thousand would have been something.
But, you could also point out that GM is pricing the Volt closer to what it truly costs them to build (at least for now). With an all new battery type, engine type, production plants, etc... the Volt has been an expensive car to build. It's likely that GM will lose money on the Volt for years, something a company just out of bankruptcy and government loans needs to be careful about.
The Nissan Leaf lease is almost identical to the Chevy Volt lease. By matching the Leaf lease, GM is hoping to compete with Nissan. The lease terms are supposed to entice customers who are reluctant to buy into an unknown type of car. The $7,500 federal tax credit is applied to the cost of the car when you lease, which is why the price is set so much lower. If you buy the car outright, you have to get the tax credit yourself, if you qualify.
The Nissan Leaf qualifies for the $5,000 tax credit in California for being a PZEV, but the Volt does not.
Others reacting to the price announcement:
Edmunds Blog Green Car Advisor
Hybrid Car Blog
Clean MPG Forums (Price, Lease)
Still interested? Head to www.getmyvolt.com to place your order. The website will let you see where you are on the waiting list. GM will build 10,000 Volts in the first year, 30,000 the next. Then we'll see where the demand is and whether they'll expand on the production.
GM has created a website, www.getmyvolt.com, which will let customers start placing orders today with dealers in launch markets.
Interestingly, GM is already pushing back on the comparison to the Volt. With only 100 mile range, the Leaf may be a bad comparator, but would they rather the comparison be with the Prius? At almost half the price, would that be good for them?
Read more about the Volt, the lease terms, and how to order:
SAN JOSE, CA – Starting today, participating Chevrolet dealers in launch markets will begin taking customer orders for the 2011 Chevrolet Volt, the industry’s first electric vehicle with extended-range capability.
Chevrolet is so confident in the overall value of the Volt that the brand will offer a lease program on the Volt with a monthly payment as low as $350 for 36 months at Manufacturer’s Suggested Retail Price with $2,500 due at lease signing, including security deposit based on current conditions, which could vary at time of delivery. The benefit of the $7,500 tax credit is included in the reduced lease payment, with the tax credit going to the lessor. The Volt’s MSRP will start at $41,000 ($33,500 net of the full federal tax credit, which ranges from $0-$7,500) including a destination freight charge of $720. Customer deliveries of the Chevrolet Volt are scheduled to begin in launch markets late this year with initial production limited.
“The Chevrolet Volt will be the best vehicle in its class…because it’s in a class by itself,” said Joel Ewanick, vice president of U.S. marketing for General Motors, who made the announcement at the Plug-In 2010 conference. “No other automaker offers an electrically driven vehicle that can be your everyday driver, to take you wherever, whenever. The Volt will be packed with premium content and innovation, standard.”
The Volt will be initially available to Chevrolet customers in California, New York, Michigan, Connecticut, Texas, New Jersey and the Washington D.C. area. To be among the first to purchase a Volt, customers can visit their nearest participating Chevrolet Volt dealer. A Volt dealer locator will be available later today at http://www.getmyvolt.com. The dealer will begin the order process, which will be followed up by contact from a dedicated Volt advisor who will be available to answer any questions and keep the customer apprised of the progress of their order. For customers needing general Volt information, Chevrolet will have a team of Volt advisors available to answer questions starting today at 1-888-VOLT-4-YOU (1-888-865-8496).
The Chevrolet Volt is the only electric vehicle that can operate under a range of weather climates and driving conditions with little concern of being stranded by a depleted battery. Volt has a total driving range of about 340 miles and is powered by electricity at all times. For up to the first 40 miles, the Volt drives gas- and tailpipe-emissions-free using electricity stored in its 16-kWh lithium-ion battery. When the Volt’s battery runs low, a gas powered range-extending engine/generator seamlessly operates to extend the driving range another 300 miles on a full tank.
Depending on their tax situation, Volt owners can qualify for up to $7,500 in U.S. Federal income tax credit, as well as other potential state and local tax credits, depending on location. Owners in certain states may qualify for the added convenience of High-Occupancy Vehicle (HOV) lane access.
While the Chevrolet Volt will come standard with a 120-volt charge cord that will provide owners with the ability to charge their Volt directly from a standard home electrical outlet, a total of 4,400 Volt buyers in launch markets could be eligible for a free 240-volt charging station, including home installation. The installations are part of a program developed by the U.S. Department of Energy (DOE) to install approximately 15,000 240-volt home charging stations across the U.S.
Technologies Keep Volt Customers Connected
When it comes to advanced technology, Volt customers are on the leading edge. The 2011 Chevrolet Volt has standard technology features that link and entertain in innovative ways, starting with standard seven-inch touch screen navigation and an energy-efficient Bose premium audio system.
The Volt is the first GM vehicle to offer five years of OnStar Directions and Connections service, which includes Automatic Crash Response, stolen vehicle assistance and connected navigation, all standard. Volt will expand on OnStar’s foundation of leading-edge safety and security technology through the introduction of an OnStar-enabled mobile app that connects the vehicle to the owner’s smartphone.
“We wanted to make the Volt ownership experience unlike anything we’ve done at Chevrolet, because the Volt is unlike any vehicle we’ve offered,” said Tony DiSalle, director of Chevrolet Volt product marketing. “We want customers to fully enjoy the Volt lifestyle by providing unprecedented connectivity to their vehicle through the Volt mobile app.”
Unprecedented Warranties Bring Value and Peace of Mind
Volt owners will be provided outstanding battery and vehicle limited warranties. The Volt’s 16-kWh lithium-ion battery is covered by an industry-leading transferable warranty of eight years or 100,000 miles. In addition, Chevrolet will provide:
3-year / 36,000-mile bumper-to-bumper coverage
5-year / 100,000-mile roadside assistance and courtesy transportation
5-year/100,000-mile limited gas engine coverage
6-year/100,000-mile corrosion protection coverage
The Volt also has an array of standard safety features, including eight air bags -- dual-stage frontal, side-impact, knee, and roof-rail side-impact - and StabiliTrak electronic stability control with Traction Control. The Volt is constructed of 80 percent high-strength steel for additional safety and protection.
Chevrolet will also provide customer assistance via a Volt advisor available 24/7 by phone or Internet. Dealers will also provide on-site dedicated Volt service and sales experts who will be able to address inquiries.