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It’s official: General Motors has priced the 2011 Chevrolet Volt plug-in hybrid with a manufacturer’s suggested retail price of $41,000 (including a $725 destination fee), and customers in six select launch markets can begin placing orders with dealers later today.
That figure is close to the $40,000 figure previously (and repeatedly) touted by GM officials over the course of the development. It should be noted that the figure does not include any tax incentives — applying the U.S. federal tax credit will whittle $7500 from the purchase price, although the credit doesn’t work like a conventional rebate or incentive. Depending on their location, buyers may be able to eke additional tax credits from a state or municipal level.
The variety in incentives may drive GM to tout the lease pricing for the Volt in national ad campaigns. GM revealed a 36-month lease for the 2011 Volt will run customers nearly $350 a month with $2500 down — nearly identical to the lease program offered for the 2011 Nissan Leaf, despite an $8200 difference in MSRP. Joel Ewanick, GM’s vice president of marketing, insists the company isn’t eating its hat with those figures — the federal credit is factored into the monthly payment, and consumer demand, limited initial volumes, and extended electrical powertrain warranties are expected to bolster residual values.
So, what does $41,000 buy? As we reported yesterday, a base Volt is already loaded with a number of goodies. All 2011 Volts will be equipped with a Bose sound system, navigation, Bluetooth phone connectivity, and five years of OnStar service as standard equipment. Options are limited to polished 17-inch wheels, three premium paint colors, a premium interior trim package, and a rear-view camera with sonar parking aids. With the exception of the first 4400 Volt buyers, a 240-volt charging station will be an optional extra, although a 120-volt charging cord will be standard equipment.
Although GM has yet to establish a precise timeframe for production (we’re told the first customer cars will roll off the assembly line by the end of 2010), customers in the six initial launch markets — California, Connecticut, Michigan, New York, New Jersey, Texas, and Washington D.C. — can begin to place orders for Volts later today. Customers will need to make contact with a dealer carrying the Volt (thus far, there are 600), but they’ll ultimately be able to keep complete tabs on the order’s status by visiting www.getmyvolt.com.
Live outside of those markets, but really, really, really want to get a Volt? Ewanick says it is possible to order a car from one of the launch areas, but you’ll quickly hit two hurdles: the car can only be delivered to launch dealers, and that attractive lease pricing will only be offered to customers living within the launch markets.
Source: GM
The Volt is a great piece of technology. The function of the power system and its ability to offer a truly useful, ultralow fuel consumption number are game changers. I fear however that GMs marketing department has allowed its price point to conflict with its brand image and this mistake will disconnect it from the type of buyers that will pay that level of premium for this technology.Why is this car branded a Chevrolet? At this price point, Buick or maybe even Cadillac badges and trim would be more palatable to the typical hybrid buyer. With some exceptions (trucks and Corvette) the customers of the Chevy brand are generally more blue collar, budget conscious, and tend to have spent less time climbing the higher education scale. So to begin with, most existing Chevy drivers do not buy into the global climate change hysteria that fuels most hybrid purchases and therefore do not highly value the current crop of technological boondoggles. If fuel economy is a priority, Chevy buyers are aware of better-equipped alternatives available at price points that make more economic sense. Beyond the current Chevrolet customer, most of those other highly educated individuals who DO follow the climate change faith and have already invested in hybrids, have done so with the full knowledge that current hybrids do NOT make any economic sense and have therefore been driving them largely for the emotional value and image that they project to other members of their faith. The Chevrolet brand image will not play well to this typical image-conscious and well-heeled hybrid buyer. By labeling and equipping the Volt as one of the more up-market GM brands, it would allow today’s typical hybrid buyer to maintain that proper level of status befitting someone of their superior education and enlightened social values.The Volt is a great piece of engineering; I just hope that incompetent marketing does not mean that it is already doomed to the Edsel and Fiero dustbin.
Why would anyone pay $41,000 for a Volt when they can get a LEAF or Prius for under $30,000?