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Volt’s base price set at $41,000
Photo
The Chevrolet Volt all-electric concept car is seen on display at the GM exhibit during media previews for the Los Angeles Auto Show Wednesday, Nov. 19, 2008. The show opens to the public Friday, Nov. 21.
Los Angeles Times
LOS ANGELES
The Chevrolet Volt, the first mass-market electric vehicle from General Motors Co., will have a sticker price starting at $41,000 when it hits showrooms this year.
But government tax credits and rebates designed to speed the entry of electric vehicles into the marketplace will make the price more attractive. There’s a federal tax credit of $7,500 for electric vehicles, and some states offer separate incentives.
The sticker price of the hybrid Toyota Prius, the current favorite of gasoline misers and eco-drivers, ranges from $22,150 to $28,820, depending on the trim level and equipment.
Chevrolet also plans to offer a lease program on the Volt with a monthly payment as low as $350 for 36 months plus $2,500 due at lease signing. And in a move to reassure potential buyers that they won’t have to make a costly battery replacement early in the life of the vehicle, GM is guaranteeing the battery in the Volt for eight years or 100,000 miles.
The Volt will be initially sold in California, New York, Michigan, Connecticut, Texas, New Jersey and the Washington, D.C., area — regions where there is a growing power-charging infrastructure for electric vehicles or where local and state governments provide extra incentives for electric-vehicle purchases.
The regions where the Volt will be sold also have different climates and driving patterns that will demonstrate the abilities of the sedan, said John Hughes, Volt’s marketing manager.
The car comes with a kit that will allow drivers to plug the vehicle into a standard electric socket, though it will take about 10 hours to fully charge. Owners who upgrade a circuit to 240 volts could charge the Volt in four hours, Hughes said.
Pricing has already been announced for what will be the Volt’s main rival through the next year. The all- electric Nissan Leaf hatchback will start at $32,780 when it goes on sale in December. The government subsidies will lower the base price for the standard Leaf, in California, to $20,280. Nissan also has a lease deal — $349 a month on a 36 month lease with an initial $1,999 customer payment.
Although both are electric, the two vehicles use different systems. The Leaf is an all-electric vehicle with a range of 70 to 120 miles, depending on driving conditions, with zero emissions. It is powered by a 24-kilowatt-hour, laminated lithium-ion battery pack that will allow the Leaf to reach a top speed of 90 mph.
Nissan estimates the Leaf’s five-year operating cost will be $1,800 versus $6,000 for a gas-powered car.
The Volt is propelled by a 120-kilowatt electric motor that pulls power from a 16-kilowatt-hour lithium-ion battery.
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