Chevy Volt Priced Starting At $41k, Leases Start At $350/Month
This, ladies and gentlemen, is a moment we’ve been waiting for for some time… which might explain why the news isn’t particularly earth-shattering [ press release here]. Yes, believe it or not, the Volt will cost $41,000 base including destination charge, just as every bit of speculation has indicated since the Volt was first announced. Perhaps more surprising is GM’s announcement of lease deals starting at $350/month for 36 months with $2,500 down. But just as GM has found with its CTS, moving high-cost American-branded metal in any kind of volume tends to require heavy dependence on leases. Plus, the fact that the big question mark surrounding EVs in general continues to be long-term battery life makes leasing the obvious option for those who are tempted by the Volt, but don’t want own a lot of expensive, unproven technology. On the other hand, the Feds don’t subsidize EV leases, and with a Federal tax credit, the Volt’s price drops to a mere $33,500… which is less than a thousand dollars more than the Nissan Leaf’s base price (without tax credit, $25,280 with). Obviously the Volt has certain advantages due to its EREV design, but with the economy still shaky, the Volt’s hefty price premium will work against it, especially as volume builds. Seeing how these two very different EVs do relative to one another will make for some interesting lessons about the future of the electric car.