Innovative, fun and fuel-efficient, the Volt suffers from consumer apprehension about any EV tech
2013 Chevrolet Volt Now Rated at 38 Miles of Electric Range, 98 MPGe by EPA
General Motors is losing as much $49,000 each time it sells a Chevrolet Voltextended range electric vehicle, according to analysis done by Reuters news service. The chief reason is the high start-up costs of the car and the so-far disappointing response from consumers.
The report comes after Chevy had a record month of sales for the innovative Volt, which travels up to 35 miles on a single electric charge before a gas-powered motor kicks in to power the car until the car can be recharged.
GM in August ran an incentive program for Chevy dealers resulting in lease deals on the Volt of less than $200 per month with about $1,000 down. Dealers report they quickly flushed out their dealer inventory at that price. The prevailing lease deal now, though, has popped back up to $299 per month.
GM spent $1.2 billion to develop the Volt. The automaker sold 13,500 through August, putting it on a sales track that would be well below its stated goal of 40,000 Volts a year. GM also plans to roll out additional vehicles with the same technology, including a Cadillac.