GM cuts 2016 Volt plug-in hybrid car price by almost $1,200

[Omaha Steve]

Source: AP

DETROIT (AP) — General Motors is knocking nearly $1,200 off the price of the 2016 Chevrolet Volt plug-in hybrid car.

The company says the new Volt will start at $33,995 including shipping when it goes on sale in the fall. The current version costs $35,170.

Prices do not include a $7,500 federal electric car tax credit.

The new Volt can go about 50 miles on battery power before a gasoline generator takes over. The current car goes about 38 miles on its battery.

FULL story at link.


Read more: http://bigstory.ap.org/article/68e92faf327149ed86f7339578f9db66/gm-cuts-2016-volt-plug-hybrid-car-price-almost-1200

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The redesigned 2016 Volt info: http://www.chevrolet.com/2016-volt/

[rurallib]

1. Steve - do you know how the tax credit works?

Is that - no taxes on $7500 of income or an up front reimbursement of $7500 which could be applied to the cost of the car.
Based on the blurb at the bottom of the ad, it is the latter.

Most of our driving is in the 50 - 75 mile range. This could be quite the ticket.
We currently have a Prius C (I know - I just couldn't find an American car I liked at that time). We get between 45 - 50 MPG. But the range potential and the recharge method makes it possible to drive mostly battery yet have range without a lengthy stop.

Also wonder if it is necessary to put in your own charger? I may contact my local dealer and have a chat with him.
ETA - I know one poster on here said he is averaging over 100/mpg with his USED Volt.

[Omaha Steve]

2. Correction: It is not applied to the purchase price

I was sure it was the other way.

[PSPS]

4. No, it's a tax credit. See my other post.

[PSPS]

3. It's a tax credit, not a rebate or other reduction on the car's cost.

When you fill out your federal tax return for the year in which you purchased your car and you have a tax liability for that year, you can deduct up to $7,500 off the tax you owe.

A good description is here:
http://www.washingtonpost.com/cars/federal-tax-credits-for-plug-in-hybrids-electric-cars-what-you-need-to-know/2014/08/20/0ae02718-2886-11e4-8b10-7db129976abb_story.html

In a way, this is better because, if you're in the 15% tax bracket for example, a $7,500 tax credit is the same as forgiving your income tax on $50,000 of ordinary income.

[LiberalArkie]

5. The $7500 is a federal tax credit not a reduction of the price of the car.

Kind of messes me up being being retired. I don't pay taxes because the only income I get is Social Security.

[rurallib]

6. Ah! Surely the dealer will be able to help me understand

Thanx to both of you

[KeepItReal]

8. The $7500 tax credit CAN be applied to a Lease, though

The price of the vehicle would be reduced by any tax credits, since the Leasing Company is the owner of the vehicle.

This is how folks were able to get lease deals on brand new Fiat 500e for $82 a month.

[cstanleytech]

7. I'll buy one........just as soon as I manage to pull the rest of the $33,994 dollars out of my butt.

[KeepItReal]

9. You'd save $$ on a lease with tax credits, though.

Any tax credits and rebates reduce the cost of the car for lease calculations.

Not that I'm advocating that, since GM is blocking Tesla from expanding its sales network.

[Kelvin Mace]

14. Check out the used versions of the Volt

They are going to get much cheaper when the new gen 2 version ships. I have seen Volt's going from $13-$17K depending on mileage. You don't get the latest features, but you still get a good car that is cheap and fun to drive.

[cstanleytech]

18. Right now I'm struggling just to have enough gas money but nonetheless

thank you for the info since it might come in handy for someone with the money.

[Kelvin Mace]

20. Sorry,

didn't wish to seem insensitive about your finances. Cars are so critical to work in this country, I just didn't want you to think that they were all that expensive. As the newer versions of these cars come out, the older versions get cheaper. I generally buys a couple of generations back on computers since they usually cost a quarter of the price of the newest technology.

In another year or so, the first generation Leaf will probably fall well below $10,000. This may still be a stretch for some people, but another virtue of electric cars is that they are mechanically far more reliable, and are very cheap to maintain, since they lack belts, hoses, water/fuel/oil pumps, transmissions, head gaskets, oil seals, alternators, starter motors, radiators, and dozens of other mechanical systems that nickel and dime car owners.

[cstanleytech]

24. Oh dont worry I am not offended and the info could come in handy for others. nt

[Kelvin Mace]

25. Cool

Just wanted to be sure.

[SheilaT]

10. Since my federal tax liability is a lot less than

$7,500, the tax credit wouldn't be worth very much to me. Unless I could spread it out over several years. Or maybe, in my case, I could consider leasing the car.

Although I will say, that to me, a new car costing $33,995 is significantly more than I could afford. Maybe when they start showing up on the market used.

My other question about a car like this, is how are they for long-distance trips?

[KeepItReal]

11. GM says 50 miles in all-electric mode and around 400 miles range total

To provide the powertrain with a healthy source of current, GM revised the battery-cell chemistry, increasing the storage capacity by 20 percent while simultaneously reducing the total number of cells from 288 to 192 and shedding about 22 pounds of weight. The battery is now capable of storing 18.4 kWh (versus 17.1 kWh previously), and its discharge rate has also increased slightly to 120 kW from 110 kW, which helps improve performance. Still assembled into a T-shaped pack, the cells are now positioned lower in the unit, which contributes to a lower center of gravity for the car. The battery advancements enable the new Volt’s claimed 50-mile EV range, a significant improvement over the current car’s 35-mile rating. Overall range while using the onboard gasoline engine is projected to be 400 miles, and GM is quoting an anticipated MPGe figure of 102.

http://www.caranddriver.com/chevrolet/volt

[SheilaT]

12. 400 miles before eeding the battery recharged?

Or 400 miles battery and gas, and if you refill with gas you keep on going, just as gasoline and diesel cars?

If it's only 400 miles before needing to stop for a battery charge, there's no way I would ever buy such a car, since I make a fair number of long drives every year.

[Kelvin Mace]

15. 50 miles on battery

Then the gas generator kicks in and gives you another 350 miles or so. Most Americans drive less than 35 miles a day, so if you recharge it every night, you seldom burn gas and it costs about 4 cents a mile to drive. It is the compromise between gas and electric.

[Unca Jim]

13. You can buy

...a two-year-old used LEAF (off lease) for about $14,000. I imagine you can get a Volt at a similar price as well...

I only got about $7000 back when I bought my LEAF because I didn't have the full amount in tax liability, but it was still a good deal for me.

Good luck!

[Kelvin Mace]

16. Yes, i picked up a 2012 SL Leaf

With only 9200 miles for $20k off its originals list. It is a blast to drive. Once you drive electric, going back to driving a gas car is like driving a dump truck full of scrap metal.

[davidpdx]

17. It is a nice looking car

I'm hoping to find a hybrid for my next car in a year or two. Gas is even more expensive over here in South Korea than it is in the US. Thankfully I don't drive much at the moment and my car uses LPG instead of gas which is slightly cheaper.

[Kelvin Mace]

21. Unfortunately, GM has said they will not

sell the new 2016 outside of North America, which is pretty stupid.

[davidpdx]

23. GM has a division here in Korea

When it bought Daewoo out of bankruptcy, they changed it to GM Daewoo and then more recently to Chevy. I'm sure they have a different model for Korea.

[Nihil]

27. That's a shame ...

... but lat least thanks for the warning (before I waste time trying to find info on them over here!).

[Kelvin Mace]

28. I don't know why other than it didn't do well in the EU or Australia

The EU is not into hybrids, but are going for pure electrics. I am hoping that GM will deliver the Bolt with its 200 mile range to the world market.

[eringer]

19. Boy, that is Tempting

I love the redesign. Looks like a 2016 Acura TSX (if they still made TSXs) if you air-brush out the bow-tie. I also love the color (I had a 1975 Corvette that was almost the same color -- bright blue metallic) . With the tax credit, this is a no brainer if you have the income to max it out. Would be even better if it was a 5-door hatchback (which, thankfully, it appears to be from the GM promotional video). I would add body side moldings in the body color to keep the door dings from ruining the car's lines.

[Kelvin Mace]

22. Electric cars and the Volt

are one of the few types of cars that it makes sense to lease. By the time your lease is out, a newer car with better range and features will be available. People went nuts last month over the Chevy Spark EV, which was available on lease for $139 a month. Unfortunately, GM is only selling it on the West coast.

[AngryAmish]

26. I almost bought a Vilt 18 months ago.

Windows too small, huge blind spots. Thing could move, tho. Interior was cheap.

Bought a prius.