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GM Announces Price of Chevy Volt

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On: Wed, Jul 28, 2010 at 9:42AM | By: Sherry Christiansen

GM Announces Price of Chevy Volt

GM has finally announced the official price for the Chevy Volt, the first extended range electric vehicle to be mass produced by GM.  A brand new Volt will cost buyers $41,000 MRSP, compared to its number one competitor, the Nissan Leaf selling for a little over $32,000.  After the $7,500 tax credit, the bottom line price drops to a much more realistic $33,500 (but the Nissan Leaf’s price will go down proportionally, as well).

Although the sticker price may be out of range for many a consumer’s budget, GM is offering an affordable lease program at only $350 per month that may widen the market for consumers who qualify for the electric hybrid. The biggest drawback to the lease program will be that the first $2,500 is due upfront. The good news—the tax credit also applies. For a leasee who qualifies for the full amount of the tax credit, the monthly payment drops to around what a consumer would pay for a Chevy Impala.

Buyers will get a 6-year, 100k corrosion protection and 8-years on the battery packs, and the leased vehicles will be covered under warranty for the full 3-year term of the lease. Volt owners will be provided significant battery and vehicle warranties. The Volt’s lithium-ion battery is covered by a transferable warranty of eight years or 100,000 miles. In addition, Chevrolet will provide a 3-year/36,000-mile bumper-to-bumper coverage, and a 5-year/100,000-mile roadside assistance, courtesy transportation, and limited gas engine coverage.

Deliveries are expected later this year with California, New York, and Michigan, as well as Texas, Connecticut, New Jersey, and the Washington D.C. areas being first to receive the Volt. Consumers can go to the website; GetMyVolt.com to find a local dealership and get more information about how to purchase or lease a new Chevy Volt. Dealers do not expect to have any problems moving the new Volts off the lots once they arrive.

GM plans to initially ship 10,000 Volts, many of which are already spoken for with pre-orders. The Volt is not considered to be a vehicle everyone can afford, but being the first mass produced EV vehicle launched in the U.S., the price is the highest out of the gate

“The Chevrolet Volt will be the best vehicle in its class… because it’s in a class by itself,” according to Joel Ewanick, vice president of U.S. marketing for General Motors. "No other automaker offers an electrically driven vehicle that can be your everyday driver, to take you wherever, whenever. The Volt will be packed with premium content and innovation, standard.”

The Chevrolet Volt has a total driving range of about 340 miles and is powered by electricity at all times, operating for the first 40 miles on the electric power alone from its 16-KW lithium ion battery. When the Volt’s battery is depleted, a gas-powered engine/generator kicks in and extends the driving range another 300 miles.

The Chevrolet Volt comes with a 120 volt electric charging cord that can be used on a standard home electrical outlet and Chevy is offering the first 4,400 buyers a free upgrade for a 240 volt electric charging station to be installed at their home.

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