Paul Batista
Instant Wheels Editor, InstantRiverside.com

This is a significant automotive headline: Chevrolet has announced a purchase price for the Volt.  The MSRP will be $41,000, according to General Motors.  Some owners may qualify for tax credits that could equal $7,500.  And, Volt drivers in some states may qualify for High-Occupancy Vehicle (HOV) lane access, which allows single passengers to travel in carpool lanes.

The electric vehicle will be in limited release in 2010.  And, the question of whether it’s for lease or purchase has been answered;  “Both,” says Dave Bartmuss, of GM.    “Lease is $350/month for 36 months with option to buy at expiration.  Purchase is based on a $33,500 MSRP (after 7,500 tax credit)” said Bathmuss in an email.

The Volt includes standard options, including 5 years of free OnStar.  The first Volts will be sold at dealerships in California, New York, Michigan, Connecticut, Texas, New Jersey and Washington D.C.

General motors released several potential options for payment; a 36-month lease, assuming the vehicle is sold at $41,000, the payment could be as low as $350 per month, according to GM. Consumers would have to pay $2,500 upon lease signing, and pay an unspecified security deposit.

The Volt has been touted for an estimated MPG of 340 miles of travel range.

The following statement has been released by General Motors:

Chevrolet is so confident in the overall value of the Volt that the brand will offer a lease program on the Volt with a monthly payment as low as $350 for 36 months at Manufacturer’s Suggested Retail Price with $2,500 due at lease signing, including security deposit based on current conditions, which could vary at time of delivery. The benefit of the $7,500 tax credit is included in the reduced lease payment, with the tax credit going to the lessor. The Volt’s MSRP will start at $41,000 ($33,500 net of the full federal tax credit, which ranges from $0-$7,500) including a destination freight charge of $720. Customer deliveries of the Chevrolet Volt are scheduled to begin in launch markets late this year with initial production limited.

“The Chevrolet Volt will be the best vehicle in its class…because it’s in a class by itself,” said Joel Ewanick, vice president of U.S. marketing for General Motors, who made the announcement at the Plug-In 2010 conference. “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 is the only electric vehicle that can operate under a range of weather climates and driving conditions with little concern of being stranded by a depleted battery. Volt has a total driving range of about 340 miles and is powered by electricity at all times. For up to the first 40 miles, the Volt drives gas- and tailpipe-emissions-free using electricity stored in its 16-kWh lithium-ion battery. When the Volt’s battery runs low, a gas powered range-extending engine/generator seamlessly operates to extend the driving range another 300 miles on a full tank.

Depending on their tax situation, Volt owners can qualify for up to $7,500 in U.S. Federal income tax credit, as well as other potential state and local tax credits, depending on location. Owners in certain states may qualify for the added convenience of High-Occupancy Vehicle (HOV) lane access.

While the Chevrolet Volt will come standard with a 120-volt charge cord that will provide owners with the ability to charge their Volt directly from a standard home electrical outlet, a total of 4,400 Volt buyers in launch markets could be eligible for a free 240-volt charging station, including home installation. The installations are part of a program developed by the U.S. Department of Energy (DOE) to install approximately 15,000 240-volt home charging stations across the U.S.

Filed under Video Library, Wheels, Consumer News

Tuesday, July 27, 2010

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