The biggest dud in automotive history.
Still a dud at the new lower price of (a whopping) $34,995
Detroit Free Press
General Motors is cutting the price of the Chevrolet Volt by $5,000 after rebates failed to revive the extended-range plug-in’s sales when competitors also cut prices.
GM said the 2014 Volt will start at $34,995, including a $810 destination fee. The 2013 model will continue to be priced at $39,995 with $5,000 cash back.
There is still a $7,500 federal tax credit for buyers and additional tax incentives in certain states and localities, especially in California.
Sales have stalled in 2013, rising a meager 0.1% to 11,643 through July. The Volt was the best-selling plug-in vehicle in the U.S. in 2012, but Nissan’s pure-electric Leaf and Tesla’s luxury electric Model S could surpass it this year.
Plug-in electric car sales are sluggish because battery costs remain high, gasoline prices remain moderate and recharging stations are still too few and far between for long-distance driving.
One reason that the Chevy Volt is a complete dud is because the break even for this car is (wait for it) ...27 years
If you’re thinking about buying a fuel-efficient hybrid, electric or otherwise eco-friendly vehicle as a way to save money over time, do your homework — or be prepared to wait.
Buyers who choose Nissan’s all-electric Leaf ($28,421) over its approximate gas-powered equivalent, Nissan’s Versa ($18,640), will likely wait nearly 9 years until they break even, according to a new report by The New York Times that examines the cost of fuel efficiency.
For drivers of the Chevrolet Volt, the wait is even longer — 26.6 years.