The Chevy Volt will cost $41,000. GM finally went live with the second to last piece of the Chevy Volt puzzle and select dealers are ready to take orders with delivery expected “later this year.” After the available $7,500 tax credit, the effective price drops down to a much more reasonable $33,500. A tad pricey, yes, but GM is fully prepared to counter that higher price with an affordable leasing program that gets drivers into the Volt for only $350 per month with $2,500 due at signing.
The Volt will slowly roll out nationwide starting with California, New York, Michigan, Connecticut, Texas, New Jersey, and the Washington D.C. area. GetMyVolt.com will locate your nearest dealership who should be able to start processing orders as soon as today. Customers will then receive a phone call from a dedicated Volt advisor who will be able to answer any further questions.
But will GM have any issue moving the $41k Volt off of dealer’s lots? Probably not.
The $7,500 tax credit also applies to leases, which is how GM can offer the $41,000 vehicle for only $350 per month. Of course not everyone qualifies for the full amount as it’s dependent on the buyers tax situation. However, many buyers should get the full amount that drops the lease payment down to around what a fully loaded Chevy Impala currently goes for. Plus leasers have the piece of mind knowing that if this vehicle does work out like GM says it will, they’re not out everything and are well within the Volt’s 3-year bumper to bumper total coverage. Buyers on the other hand still get the same 3-year deal with that continues up through a 6-year, 100k corrosion protection and 8-years on the battery packs.
But even at the full $41,000 MSRP, GM probably will not have any issues working through the initial 2011 shipment of just 10,000 vehicles. A good portion will likely be eaten up right away by pre-orders. Clearly with price usually reserved for a mid-level Cadillac, GM knows not everyone will be able to afford the Volt. It’s pricey. But it’s the first extended-range electric vehicle to be mass-produced and sold in the US market. First generation products are rarely inexpensive. Think back to the first Blu-ray player or even VCR. The middle class wasn’t the target market.
Will the Volt be GM’s cash cow? That’s the final question in the Volt story.
For Release: 7/27/2010 @ 12:00 PM ET
Chevrolet Begins Taking Volt Orders; Pricing Announced
– Manufacturer’s Suggested Retail Price starts at $41,000 ($33,500 net of full federal income tax credit, which ranges from $0 to $7,500); Lease payment on a 36-month lease at MSRP as low as $350 per month with $2,500 due at lease signing including security deposit
– OnStar provides unprecedented connectivity through Volt mobile app; five years of OnStar (Directions and Connections)service standard
– Volt’s eight-year/100,000-mile battery pack warranty provides added peace of mind
– Volt can be your primary car; approximately 340 miles of total range provides freedom to drive wherever, whenever
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 can be found 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 (1-888-865-8469).
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.
NOTE: Later today, Volt marketing director Tony DiSalle and Volt vehicle line director Tony Posawatz will host a live video webchat at 4 p.m. ET/1 p.m. PT from Plug-In 2010 to answer consumer questions about Volt pricing. Media and consumers can join the conversation on Chevrolet Voltage and the Chevrolet Volt Facebook page.
About Chevrolet: Chevrolet is a global automotive brand, with annual sales of about 3.5 million vehicles in more than 130 countries. Chevrolet provides consumers with fuel-efficient, safe and reliable vehicles that deliver high quality, expressive design, spirited performance and value. In the U.S., the Chevrolet portfolio includes: iconic performance cars, such as Corvette and Camaro; dependable, long lasting pickups and SUVs, such as Silverado and Suburban; and award-winning passenger cars and crossovers, such as Malibu, Equinox and Traverse. Chevrolet also offers gas-friendly solutions including the Cruze Eco and Volt, both arriving in late 2010. Cruze Eco will offer up to an estimated 40 mpg highway while the Chevrolet Volt will offer up to 40 miles of electric, gas-free driving and an additional 300 miles of extended range through a gas powered generator (figures based on GM testing; official EPA estimates not yet available). Most new Chevrolet models offer OnStar safety, security, and convenience technologies including OnStar Hands-Free Calling, Automatic Crash Response, and Stolen Vehicle Slowdown. More information regarding Chevrolet models, fuel solutions, and OnStar availability can be found at www.chevrolet.com or join the conversation at www.chevroletvoltage.com.