Chevy Volt May be Priced Under 30K

Posted: May 27, 2008

The Chevrolet Volt plug-in hybrid, which GM hopes to introduce in 2010 as a long-awaited American alternative to the Prius, may cost a lot less than previously believed.

Motor Trend explains, "GM CEO Rick Wagoner has said the plug-in hybrid will not only make its original target price of $30,000, it could even sell for less."  Earlier reports based on comments from GM officials had pegged the price at about $48,000.  Now, however, the CEO has told German newspaper Frankfurter Allgemeinen Zeitung, "GM has a very clear goal: we want 2010 Volts on the market at a price of less than $30,000." He also "implied that rather than at the end of 2010, the automaker is hoping to introduce its new model earlier in the year."

Australia's Tech.Blorge reports, "The news has sent a fresh wave of buzz through the Internet as fans swoon at the thought of actually being able to afford a Chevy Volt.  Battery costs have been a significant driver pushing the cost of the Volt up, and maybe this is an indication that GM has negotiated a better deal with one of its suppliers."

However, Autoblog Green reports, it may be up to Congress whether GM can make that price goal.  "In order to help make the Volt less financially painful both for the manufacturer and consumers, GM is lobbying Congress to pass a new batch of tax breaks for plug-in vehicles. There has been on-going debate in Congress for some time about tax credits for plug-in hybrids and GM wants to make sure that ER-EVs are specifically included. A credit of $7,000 for the purchase of such a vehicle seems to be the target point," AG says, and "a $30,000 price seems unlikely unless tax credits are passed by Congress and the White House."

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