What do you get for Chevy Volt money? Posted 2010/07/27 @ 11:45 AM By Spencer Woods
General Motors announced today that it would begin taking orders on the Chevrolet Volt. The electric car with a combustion-engine backup retails for $41,000, but GM says that can be reduced to $33,500 depending on eligible tax credits. GM wants to emphasize that there is also a leasing option that is $2,500 down and $350 a month for 36 months (GM says it can offer these terms because it believes in the resale value of the Volt.)
All cars should get a combined range of 340 miles (40 miles on the initial battery charge.) The Volt's warranty similar to any other GM car, including bumper-to-bumper for 3 years/36,000 miles and 5 years/100,000 miles on the gas engine. What makes the car different is the battery is covered for 8 years/100,000 miles. The $41k Volt will come with a decent list of standard options (items like heated seats are standard because GM's engineers figured it is more efficient to use heated seats than the AC heater.)
Now that the basics are out of the way, we wanted to know how it stacked up to what else is out there on the market. Although the lease is likely the best deal ($15,100 total over three years,) we wanted to compare the price of actually owing the Volt. The only truly similar fully electric retail competitor is the Nissan Leaf, but that will not be on sale until the fall (at an estimated base price of $33,000.) So our partners at Car Guide Online compiled some info on hybrid and clean diesel cars, and we found the Volt will hold an interesting place on the US market.
Starting at the lower end of the price scale is the car that first brought the hybrid to the masses: the Toyota Prius. Even with every option box checked, the Prius is still a few thousand less than a $33,500 Volt (getting the full tax credit.) For those who don't need the Full economy of a Prius, other fully loaded cars with efficient engines, the Ford Focus Hybrid ($33k) and Volkswegen Jetta TDI ($30k). So at these price points, a Volt even with its full tax credit starts above where most mass-produced economy-minded cars are just reaching their top end.
These results don't necessarily mean the Volt's price is too far out of its market either. BMW currently offers a clean diesel engine in its 3-Series, but that starts about $3,000 above a Volt that has received no tax credit at all. Mercedes does not have its BlueTEC sedan on the U.S. market yet, but E-Class version is expected to carry a price tag around $50k when it arrives. The exception to this luxury category is the Lexus HS 250, whose $34,650 base price is close to a rebate-induced Volt. The Lexus is similar size to the Volt, and it has the brand prestige.
So from the current market offerings, it looks like Chevrolet isn't playing completely out of it price league, but it does expect eco-minded buyers to pay a premium for all-electric technology.
