Lutz: Volt will cost $40,000, first-gen will lose money - ModernCamaro.com - 5th Generation Camaro Enthusiasts
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post #1 of 11 Old 06-20-2008, 07:01 AM Thread Starter
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Lutz: Volt will cost $40,000, first-gen will lose money

http://www.autoblog.com/2008/06/19/l...ll-lose-money/


Bob Lutz revealed to the Seattle Times that the price point for his company's Chevy Volt series hybrid electric vehicle will be $40,000, or around $10,000 more than originally estimated. Lutz also told the paper that the first-generation of the Volt would generate no profit for General Motors. There's still hope for buyers who were hoping to snag a Volt closer to $30,000, as potential tax incentives on state and federal levels could trim the price substantially. Congress is currently considering proposed legislation for plug-in hybrid tax credits on the order of around $7,000. Still, there's no telling what demand there will be for the Volt, and if it's higher than the supply, we could see markups on GM's high-tech hybrid from dealers who are trying to survive this transition from a market dominated by profitable trucks and SUVs to smaller, fuel-efficient vehicles. According to Lutz, however, cars like the Volt are the way of the future, and GM's car czar expects that between 2020 and 2025 a quarter to a half of all vehicles sold will be either electric- or hydrogen-powered. We'd put our money on electric, as this country has not gotten serious yet about building a distribution network for hydrogen.

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post #2 of 11 Old 06-20-2008, 07:10 AM
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Well, it don't look like there'll be a Volt in my driveway.. Looks like the rich win again. Don't know 'bout everyone else, but $40k's a pretty big chunk of money.
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post #3 of 11 Old 06-20-2008, 07:15 AM Thread Starter
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Well, it don't look like there'll be a Volt in my driveway.. Looks like the rich win again. Don't know 'bout everyone else, but $40k's a pretty big chunk of money.
Well if there is a $7k Tax break, it will be around $33k.

The only problem is they are only building 10k the first year and supply could be short causing dealers to raise prices.

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post #4 of 11 Old 06-20-2008, 07:32 AM
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Think about it in terms of fuel costs. The Volt is actually priced pretty fairly. MORE fairly if the gov't actually offsets some of the cost.

Say you buy a Malibu for $25,000. And you use 7,500 dollars worth of fuel over a 5-year span (1500 a year in fuel). Add that 7500; you spend 31,500 for 5 years of ownership.

Now buy a Volt for 40k, and say you only spend 300 dollars in fuel every year for 5 years (less if you don't drive over 40 miles a day). That's a savings of 6000 over 5 years; so you'd spend the Volt's cost of owership would be about $34,000.

I don't think that a $2500 difference is a big deal. Plus this will diminish to nothing, and the Volt will actually start paying for itself in the 6th year of ownership. Considering that, like an ipod or a cell phone, this is brand new technology -- so it's going to be a on the expensive side at first. AND consider that you're using a fraction of the amount of oil/gas a normal car uses....

A $40,000 pricetag is unfortunate because at face value, it seems like it's a lot more expensive than a regular car. But I think the car is priced VERY fairly, and I'd buy one if I wasn't getting a Camaro .

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post #5 of 11 Old 06-20-2008, 09:00 AM
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Yeah, think about cell phone batteries over the years.... I had a bag phone, where the battery was a HUGE box that you carried just to use the phone. And it didn't last near what they do now-a-days. That same leap in technology for car battery technology, and soon plug-in cars are the standard.

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post #6 of 11 Old 06-20-2008, 09:35 AM
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Quote:
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Well, it don't look like there'll be a Volt in my driveway.. Looks like the rich win again. Don't know 'bout everyone else, but $40k's a pretty big chunk of money.
Me neither....guess I'll just have to settle for a few AMPS!


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post #7 of 11 Old 06-20-2008, 10:03 AM
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Like what Dragoneye said, it's a little bit of sticker shock, but if you figure out what you'd normally spend in gas over a few years of car ownership, it's about a dead heat.

And if it does indeed get the $7,000 tax break, that puts it ahead.

Plus, don't forget this is new technology. It will get cheaper over time.

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post #8 of 11 Old 06-20-2008, 10:09 AM
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Plus, don't forget this is new technology. It will get cheaper over time.


If you think about it...this will be one of the only/first cars in Automotive History that the next MY will actually decrease in price.

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post #9 of 11 Old 06-20-2008, 10:30 AM Thread Starter
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Also if gas prices conintue to rise it will be better as well.

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post #10 of 11 Old 06-20-2008, 03:11 PM
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The Volt did get a positive endorsement today.

Future hybrids could be worth waiting for
Chevy Volt highlights road map as automakers plan more fuel-efficient cars


http://www.msnbc.msn.com/id/25188772/wid=18298287
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