$41,000 For A Chevy?

By John Vlahakis

GM finally disclosed their pricing for the Chevy Volt electric car: $41,000 before a federal tax credit. The cost of a lease is $350 a month for 36 months with a $2,500 down payment. The Volt, which has an eight-year, 100,000-mile warranty, qualifies for a $7,500 federal tax credit, which brings the net purchase price to $33,500 after receiving the credit. Anyone who is interested will be able to order a Volt from www.getmyvolt.com, and be able to track the status of his or her order as GM starts delivery of the car later this year. Initially, GM will offer the Volt in seven regions: California, New York, New Jersey, Connecticut, Washington, D.C., Michigan, and Texas. The company anticipates that it will sell 10,000 cars in the first year and then make the Volt available nationally and sell 30,000 units in 2012, GM executives said on a conference call on Tuesday. The company hopes that higher volumes will bring down the price in the future. The base model will include a number of high-tech features, such as Bluetooth connectivity, a navigation screen, and five years of GM’s OnStar service. There will also be four options, such as a rear camera, a more expensive paint package, and different wheels. If all options are chosen, the cost is $44,600 before the $7,500 tax credit. When GM first launched the Chevy Volt concept in 2007, there wasn’t a lot of competition among major automakers in the electric-vehicle category. But now the battery-electric $33,000 Nissan Leaf is expected for release in coming months as well a host of other electric vehicles and hybrids. The Chevy Volt will have a driving distance of 340 miles, and can be charged overnight via a conventional house outlet. GM plans on assisting consumers who are interested in adding a higher voltage charging station to their homes. The federal tax credit makes the vehicle a little more affordable, but the price needs to come down for affordability. Personally, I was a bit surprised by the price point, seeing that the car only seats four people. But I’ll definitely be looking to buy one, once I need to replace my current vehicle.