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GM cuts Volt electric car price by $5,000 for 2014 model (Fire sale?)
Yahoo Finance ^ | 08/06/13 | Yahoo Staff

Posted on 08/06/2013 7:07:55 AM PDT by AngelesCrestHighway

DETROIT (Reuters) - General Motors Co (GM) said on Tuesday it is slashing the price of its Chevrolet Volt electric car by $5,000 to help boost demand for the plug-in hybrid in a segment still struggling to gain a foothold in the U.S. auto market. The price cut for the 2014 model will lower the price to $34,995, including delivery fees before federal tax credits. Pricing could fall as low as $27,495 with the tax credit. "We have made great strides in reducing costs as we gain experience with electric vehicles and their components," Don Johnson, U.S. vice president for Chevy sales, said in a statement. GM did not quantify the cost savings for the 2014 model, but has said the next version of the Volt, due in 2015, will cost $7,000 to $10,000 less. The 2014 models will begin arriving at dealer stores later this month. "Chevrolet has quickly discovered that when price savings at the pump and ultimately value are your key selling points, a $40,000 cost of entry makes for a difficult hurdle to overcome for most budget conscious consumers," Kelley Blue Book senior analyst Alec Gutierrez said. He expects GM to roll out aggressively priced lease deals on the new Volt.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Miscellaneous; Unclassified
KEYWORDS: automakers; electriccars; generalmotors; volt
Maybe they can give them away with Cracker Jacks?
1 posted on 08/06/2013 7:07:55 AM PDT by AngelesCrestHighway
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To: AngelesCrestHighway

Well! Now I’ll buy two!


2 posted on 08/06/2013 7:08:53 AM PDT by Doctor 2Brains
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To: AngelesCrestHighway

GM is worried about the new electric BMW thats close to launch.


3 posted on 08/06/2013 7:11:00 AM PDT by Gaffrig
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To: Doctor 2Brains

Hard to believe they are trying to push this turd on wheels for another year. Usually the price goes up a little each year. LOL! Its in reverse!


4 posted on 08/06/2013 7:11:23 AM PDT by AngelesCrestHighway
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To: Gaffrig

Hmmm.... tough choice.......BMW OR Chevy?.......really tough call.......


5 posted on 08/06/2013 7:18:08 AM PDT by Red Badger (Want to be surprised? Google your own name......Want to have fun? Google your friend's names........)
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To: AngelesCrestHighway
I love the part about "struggling to gain a foothold in the U.S. auto market." The Fiat X1/9 struggled to get a foothold in the U.S. auto market. The Renault Fuego struggled to get a foothold in the U.S. auto market. The Merkur XR4ti struggled to gain a foothold in the U.S. auto market.

All were wildly successful, compared to the Volt. GM's best move at this point is to quietly buy back all the Volts sold and have them scrapped, similar to how they ended the EV1 experiment.

6 posted on 08/06/2013 7:25:27 AM PDT by Charles Martel (Endeavor to persevere...)
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To: AngelesCrestHighway

If they mark the outside as which ones have that as a prise I will be sure to pass over those boxes.


7 posted on 08/06/2013 7:29:41 AM PDT by chiefqc
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To: AngelesCrestHighway
Heh.......I just saw a Volt "in the wild" for the first time this week.

Background....I live on an island in Puget Sound (Fox), which is connected to the "mainland" by a bridge. The island is pretty rural, but is in rapid transition to becoming a "bedroom community" for Tacoma with the addition of the second bridge across the Narrows. The island's electric power is supplied by a power trunk line that runs along the bridge to the island, and a submarine cable across the Sound. These grid connections are old and, with the rising population, becoming inadequate.

So, in this situation, some IDIOT buys an "all-electric" car???

8 posted on 08/06/2013 7:37:23 AM PDT by Wonder Warthog
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To: AngelesCrestHighway
IMHO?

Ford can't make Fusion's fast enough, they last something like less than 3 days after rolling off the trailer, including the Hybrid and Plug in Variant.

And for the original price of the Volt you could darn near get into the Lincoln Variant of the Fusion that is looker and comes with the Hybrid Standard...

More than 2 years ago here on FR I asked would the Fusion be a game changer ( just reading the tea leaves of the auto media and knowing Mulally's pencent for success ), and would it make the Volt look like moldy Cold Cuts?

I think I nailed it both accounts, but IMHO this is about GM having Fusion Envy and trying to stay relivant with a car when compared to the Fusion doesn't cut it...

9 posted on 08/06/2013 7:37:27 AM PDT by taildragger (The E-GOP won't know what hit them, The Party of Reagan is almost here, hang tight folks....)
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To: Gaffrig

Yep, the Volt was starting around $40K, and the BMW i3 starting price is reported to be $41K. Either is too rich for me, but which would you buy? Dropping the price to $35K will help, but the i3 for $6K more is still a problem IMO. People buying the Volt are in the upper income brackets and the hip factor of the i3 alone is going to siphon sales from the Volt.

I wouldn’t be surprised to see some type of dumping charge brought against BMW to allow this administration to slap import fees on the BMW to protect Gov’t Motors and the UAW.


10 posted on 08/06/2013 7:45:39 AM PDT by Stevenc131
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To: AngelesCrestHighway

BM claims they’ll have cost-savings of $7,000-$10,000 per Volt by 2015. My guess is that means GM has figured out how to turn it into a typical GM POS sedan, maybe something like the Chevy VoltVega.


11 posted on 08/06/2013 7:45:41 AM PDT by catnipman (Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: Wonder Warthog

The Volt isn’t all electric, it has a gas engine for backup.
That’s it big advantage over the electric only competition.


12 posted on 08/06/2013 7:47:15 AM PDT by nascarnation (Baraq's economic policy: trickle up poverty)
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To: Stevenc131

I believe the price you’re quoting for the i3 is without the gas engine range extender which is included in the Volt price.
How much is that option?


13 posted on 08/06/2013 7:50:31 AM PDT by nascarnation (Baraq's economic policy: trickle up poverty)
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To: nascarnation

$4K.

http://dailyfusion.net/2013/08/bmw-i3-vs-tesla-model-s-a-competition-16395/


14 posted on 08/06/2013 8:37:00 AM PDT by Zhang Fei (Let us pray that peace be now restored to the world and that God will preserve it always.)
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To: Zhang Fei

Thanks


15 posted on 08/06/2013 8:38:15 AM PDT by nascarnation (Baraq's economic policy: trickle up poverty)
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To: AngelesCrestHighway

Usually the price goes up a little each year. LOL! Its in reverse!


When we transfered back to the CONUS, my wife and I bought a Santa-fe. It was a solid little SUV and we had few problems with it. A decade later the price has risen disproportionately with most other vehicles.

You don’t need government incentives to sell a quality product.


16 posted on 08/06/2013 8:43:24 AM PDT by Rides_A_Red_Horse (Why do you need a fire extinguisher when you can call the fire department?)
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To: AngelesCrestHighway

Make all the GM UAW members buy one. That’ll teach ‘em.


17 posted on 08/06/2013 8:55:43 AM PDT by blueunicorn6 ("A crack shot and a good dancer")
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To: AngelesCrestHighway

Did they add a fire fighting system yet?


18 posted on 08/06/2013 8:57:35 AM PDT by bmwcyle (People who do not study history are destine to believe really ignorant statements.)
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To: nascarnation
"The Volt isn’t all electric, it has a gas engine for backup."

Irrelevant to my point, which is that the stupid Volt-owner is putting a strain on an over-stressed electrical supply situation. The Volt's "primary" source of "go-juice" is still the stuff that comes out of the wall socket.

19 posted on 08/06/2013 12:09:28 PM PDT by Wonder Warthog
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To: Wonder Warthog

Where is the power grid overstressed? I haven’t seen any stories about that since California got rid of “Gray-out” Davis....


20 posted on 08/06/2013 12:32:12 PM PDT by nascarnation (Baraq's economic policy: trickle up poverty)
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To: nascarnation
"Where is the power grid overstressed?"

This is entirely a local situation due to being on an island with "booming" population. All power must traverse Puget Sound, either by cable along a bridge, overhead, or submarine. There is very limited space available on the bridge (two-lane/small), and the existing submarine cable is OLD, and sized for a much smaller rural population (note that this is an REA transmission utility co-op area). I'm not exactly sure why "overhead" was ruled out, but it was.

The local REA has been pushing any and all means to reduce demand (subsidies for any heat-pump installation, any new high efficiencey water heater, "smart" water heaters, and on and on). Last winter we came close to a "rolling blackout" situation.

A new and much larger submarine cable is currently going in (using directional drilling). The new cable will not only be under water, but will be in an actual small drilled tunnel (actually an empty pipeline!) beneath the Puget Sound "floor". But it isn't ready to go just yet. I hope it is done before the next round of cold weather arrives.

21 posted on 08/06/2013 1:49:38 PM PDT by Wonder Warthog
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To: Wonder Warthog

It’s a real stretch for me to believe that enough cars powered by juice will be sold to that population to have a significant effect before the upgrade is in place.


22 posted on 08/06/2013 1:53:22 PM PDT by nascarnation (Baraq's economic policy: trickle up poverty)
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To: nascarnation
"It’s a real stretch for me to believe that enough cars powered by juice will be sold to that population to have a significant effect before the upgrade is in place."

I hope you're right. But the utility seems to think otherwise, given the many and varied efforts undertaken to reduce demand.

23 posted on 08/06/2013 2:13:56 PM PDT by Wonder Warthog
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