After months of speculation by automotive analysts and journalist, General Motors Company has announced that the cost of its new Chevy Volt will be $41,000 including shipping fees. Once the $7,500 federal tax credit is subtracted, the car becomes more affordable at $33,500. To help buyers see past the price tag, GM is working on a new leasing deal that will allow new buyers to take the Volt home for just $350 per month with $2500 due at signing. GM said that select dealers are already preparing to take orders for the new Volt, which will be delivered “later this year.”
Although the first dealers to receive the much anticipated plug-in hybrid will be located in California, New York, Michigan, Connecticut, Texas, New Jersey and the Washington D.C. area, the car is expected to be available nationwide in the near future. Those interested in a Volt can visit GetMyVolt.com to locate the nearest dealer in their area; these dealers should be ready to process the orders this week. After making contact on the Web, customers will get a call from a Volt advisor who can answer any questions they may have about the vehicle.
The general consensus is that dealerships will have no trouble selling the Volt, even at $41,000. The available $7,500 in tax credits applies to leases too, and this is how GM will be able to offer the car for only $350 per month. Many buyers will get the full $7,500, which makes the price roughly equal to that of a fully loaded Chevy Impala.
The first shipment of 10,000 Volts is expected to go fast, even at the full price of $41k. In fact, GM expects all 10,000 to go to customers who pre-order online.
GM is aware that many buyers will not be able to afford the Volt, since the car has the same price as a mid-level Cadillac. The price is a bit steep, but the car is the first mass-produced extended range electric vehicle in the U.S. market. First generation products tend to be pricey, and the middle class is rarely the target market for such products.
GM has high hopes that the Volt will be a resounding success in the U.S.
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