2016 Chevrolet Volt To Start At $33,995, Or $26,495 After Full Federal Tax Credit9
General Motors has just announced that the all-new 2016 Chevrolet Volt plug-in electric vehicle will start at $33,995 before any federal tax credits or rebates. The price, which includes an $825 destination fee and excludes tax, title, license, or dealer fees, is roughly $1,200 less than the first-generation Volt.
For some buyers, the 2016 Volt will cost as low as $26,495 after the full federal tax credit of $7,500. The credit can range from $0 to $7,500, with the latter figure being the maximum. Residents of California, the Volt’s largest market, will be able to purchase the all-new Volt for as low as $24,995 after state and federal incentives.
Besides the obvious new exterior, cabin, and in-vehicle technology, the all-new, second-generation Volt delivers 50 miles of pure electric driving range, which is 31 percent more than the all-electric driving range of the outgoing model. Based on GM testing, Volt owners who charge regularly can expect to drive an estimated 1,000 miles or more between fill-ups, which means new Volt owners should anticipate that approximately 90 percent of the trips in a new Volt will be driven all-electrically. In addition, the 2016 Volt delivers a GM-estimated 102 MPGe (electric) as well as an impressive fuel economy of 41 combined mpg when running on the gasoline-powered range extender.
“The next-generation Chevrolet Volt delivers more technology, the ability to drive further between gas fill-ups and now with even more value to our customers. It’s what our loyal Volt owners told us they wanted,” said Steve Majoros, director, Chevrolet Marketing. “We are confident we will continue to attract new customers to Volt with the vehicle’s product improvements and attractive price.”
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One of the things that GM doesn’t do well is leverage its workforce and retirees. When you launch a new vehicle, a special “employee only” incentive at launch time makes a lot of sense.
GM doesn’t like to do that of course. While employees have a decent vehicle purchase plan, the price advantage can be easily offset by marketing programs — huge incentives or “everyone gets dealer price” promotions. Consequently, employees don’t jump on the bandwagon. That might be okay where demand > supply, i.e., full size utilities — but for the Volt and other carlines where you have lots of capacity, it’s a different story.
Employee focused incentives can betargeted without destroying your price ladders and inviting competition to respond. Go drive by a GM parking lot and tell me that there isn’t a great opportunity for GM there.
Sounds like someone just wants a deal because he worked for GM before… haha!
I like the design. This is how new Cruze should look. Maybe GM should take things a step further and save on tooling /design by offering a Cruze and Cruze Volt. The same could be done with Verano and Astra.
This could also serve as a great experiment regarding the offering of a electronic varient for each model. If successful, a Malibu Volt could be a midsized segment same changer.
not a volt fan but the price and as much as I drive makes it very interesting option
one of the biggest cost of owning a car is deprecation and so far these electric cars deprecate faster than regular car so it will not save you any money in the long run
Just like other alternative energies, or recycling, it’s not always about saving or making money. It’s environmental impacts. There are too many people, in the US especially, that see the only end game being money. F the planet, as long as a buck was saved is the mindset.
Depreciation is like a dip in the stock market. It only “hits” you when you take it. Depreciation should be faster since they require battery replacements. However, its not that simple.
If you buy a car for $40k, and sell it 10 years later for 10k, you lost 30k in depreciation.
However if you buy a car for 40k, sell it in 2 years for $30k, and do that 5 times in a row like some buyers do, you lose $50k in depreciation.
These things don’t depreciate as fast as they may seem. Find me a another car that will offer a realized loss that is less than 25% over 4 years of ownership? You could easily get 13,000 miles a year “free” if you have free charging at a workplace like many do. You can get 13,000 miles a year “cheap” by charging at home instead of buying gas. therefore its safe to say if someone drives 20-25k miles per year to commute, and they pay “cheap” at home and free at work, they could save 2080 per year (Gas cost on other car- 25k miles at 35mph 2500 – 420 electricity cost for 25k miles. )
So you pay $25,000 for a volt, save 2080 a year, and sell it after 4 years for $11k. You saved $8,320, made 11k, your realized “loss” is $5679? Can you name another car that will depreciate less than 23% over 4 years of ownership?
Some people drive more, some drive less. Some people get free charging, some pay for it. Some people get cheap gas, some people don’t. These cars can make a lot of financial sense for some buyers, but certainly not all. Others may choose it for other reasons, such as environmental. There is no one-size fits all!
Depreciation is subjective to the person who depreciates it. As the owner, would you voluntarily depreciate an excellent vehicle? Only if you need to sell it quickly! Most car owners will keep their vehicles longer, and that is a value that cannot be measured . My oldest car is twenty-one years old, yet I value it as a new car as it give me better satisfaction to own and operate than some new cars that may cost more but worth much less.
The first Chevy Volt costs $40,000 in 2010 and 2011, so this is a great value. Most brands will incease cost for newer models but this is a 15% decrease (40,000 – 34,000 /40,000 = .15 or 15%). And it has more cabin space, better interior (a fifth seat), better aerodynamics, less weight, simpler transmission and electronics, stronger engine and larger battery. That increases electric driving range (EPA rating 50), gets better MPG and longer life for the range extender , and reduces cost to own and operate for an average ten- year use, yet this Volt can last over fifty years. This is now a true long-term investment with little depreciation (and depreciation is subjective anyway!)
Great job, GM! Now get the Chevy Bolt BEV and the Hybrid Malibu into production.