Global Chevrolet Chief Marketing Officer Tim Mahoney says the next generation Chevrolet Volt hybrid will debut at the 2015 North American International Auto Show in Detroit, Michigan this January. Mahoney made the announcement during the Center for Automotive Research Management Briefing Seminars in Traverse City, Michigan.
“We have made great strides in reducing costs as we gain experience with electric vehicles,” Mahoney said. Whether this translates into another price cut when the 2015 Volt debuts remains to be seen.
The Volt and its Cadillac ELR clone have been less than successful in the marketplace in spite of the bloviating opinion of ex-GM spin doctor Robert Lutz. Year-to-date both have sold just over 11,000, with ELR accounting fewer than 600 of that tally.
Last year GM cut the price of the 2014 Chevrolet Volt to $34,995, including an $810 destination fee, representing a $5,000 price decrease for what was a carryover vehicle. If a buyer includes federal tax credits ranging from $0-$7,500, depending on tax liability, pricing could start at $27,495.
The latest price cut followed Nissan dropping the Leaf electric vehicle price by $6,400 and offering $199 monthly lease. Honda in response then reduced the Fit EV lease price to $259 a month, a steep reduction that trimmed the payment from $389 a month.
Moreover, the revised Fit EV three-year lease requires no down payment, has unlimited mileage, provides routine maintenance and collision coverage, as well providing a 240-volt home charging station, although the customer must pay for its installation but owns it forever.
GM says that Volt owners who charge regularly typically drive 900 miles between fill-ups and visit the gas station about once a month. The 2014 Volt is rated at 98 MPGe (electric) and 35 city/40 highway when running on gasoline power without any need to change driving habits while saving $900 in annual fuel costs.
More than 70 % of Volt buyers are new to General Motors. The Toyota Prius is the most frequently traded-in vehicle for a Volt. California continues to be Volt’s largest market because of a low emissions package that earns the Volt a coveted “sticker” for single-occupancy HOV lane access in California and New York.
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