GM Hopes for More Volt Sales by Lowering Price


Detroit Free Press

Gen­eral Motors has cut the price of the 2013 Chevro­let Volt by $4,000 to boost stalling sales, slash­ing con­sumer cost from a start­ing price of $39,995.

Find out more about cost-savings by GM on the Chevro­let Volt.

Gen­eral Motors has cut the price of the 2013 Chevro­let Volt by $4,000 to boost stalling sales.

Nearly three years after the Volt debuted, sales of the extended-range elec­tric car appear to be hit­ting a wall, and the steeper incen­tives will make the car even cost­lier for GM.

The price cuts come in the form of incen­tives of as much as $4,000 for those buy­ing 2013 Volts and up to $5,000 for 2012 Volts. Those incen­tives are in addi­tion to a $7,500 fed­eral tax credit and a $1,500 state tax credit for those who live in California.

With a start­ing price of $39,995, the final cost of a 2013 Volt could now be as low as $28,495 for non-California residents.

GM spokes­woman Michelle Mal­cho said there is also an incen­tive directed at lease cus­tomers, who account for the vast major­ity of Volt transactions. .

With a $2,399 down pay­ment, cus­tomers can qual­ify for a Volt with a $269 monthly pay­ment for a 36-month lease.

Volt sales declined 4.3% in May to 1,607 while indus­try sales increased 8.2%. Through the first five months of this year, Volt trails both the much more expen­sive Tesla Model S and the smaller, less-expensive Nis­san Leaf.

At one time, GM expected to be build­ing between 60,000 and 100,000 Volts annu­ally, but with sales this year through May of 7,157, that goal has been reassessed.

“We have inven­tory we want to move to get ready for the 2014 model year, and there is a lot of com­pe­ti­tion in the mar­ket­place,” Mal­cho said.

Chevro­let deal­ers have about 140 days’ sup­ply of Volts, about twice the pre­ferred indus­try average.

GM already loses money on the Volt and will lose even more as it raises incen­tives. It costs GM as much as $75,000 to pro­duce a Volt, accord­ing to some analysts.