Print 26 comment(s) - last by Ammohunt.. on Jun 13 at 3:09 PM

It's also offering financing and leasing incentives

Chevrolet Volt sales have been a little slower than expected over the past few months, so General Motors (GM) is offering incentives to pick up the pace. 

GM announced that it would take $5,000 off the 2012 Volt and $4,000 off the 2013 Volt. This is in addition to the $7,500 federal tax credit. The Volt can also be purchased with zero percent financing for 48 months, and the driver receives $3,000 in cash off the price.

For those leasing a Volt, GM is offering it for $269 a month for 36 months, with $2,399 due at signing. 

All of these new incentives run until July 1, 2013. 

Just last week, it was reported that Chevrolet Volt sales were down three months in a row compared to the same three months last year. Volt sales dropped 4.3 percent to 1,607 in May; fell 10.7 percent to 1,306 in April, and tumbled 35 percent in March.

However, Volt sales are up 1.4 percent (or about 100 vehicles) in the first five months of the year to 7,157 compared to the first five months of 2012. GM said Volt sales on a retail basis have been up month-over-month. 

GM is likely trying to keep up with rivals, which are also offering incentives for their own vehicles at this time. For instance, Nissan slashed the entry-level price of the Leaf 18 percent to $28,800 back in January. 

Leaf sales passed those of the Volt with a total of 7,614 for the first five months of this year. Nissan sold 2,138 Leafs alone in May -- a 300 percent increase over its sales in May 2012. 

Other electric vehicle makers are cutting prices as well, such as Honda (Fit EV lease dropped from $389 to $259 per month) and Ford (Focus EV lease dropped from $350 to $285 per month and base price was cut $2,000 to $37,995). 

Last month, GM announced that it expected the next-generation Volt to be profitable and cost $10,000 less to build. 

GM is expected to announce features and pricing for the 2014 Volt this month, which is likely another reason for the incentives for older generations of Volts. GM needs to clear its inventory, which is at a 140-day supply right now, according to Chevrolet spokeswoman Michelle Malcho. The Detroit News said this is more than double what is considered "healthy." 

Source: The Detroit News

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RE: Still.....
By aurareturn on 6/11/2013 2:55:10 PM , Rating: 2
Am I doing the math right?

$39,145 MSRP - $7,500 credit - $5,000 incentive - $3,000 cash = $23,645 total with 0% APR?

RE: Still.....
By Cheesew1z69 on 6/11/2013 3:02:57 PM , Rating: 2
That 7500, as others has pointed out, unless you pay more than 7500 at the end of the year, it means nothing. Correct me if I am wrong.

RE: Still.....
By Shig on 6/11/2013 3:37:52 PM , Rating: 2
The Nissan Leaf is surging (for an EV) after it's recent move to American manufacturing and got a price drop.

Like others have said, the Volt is too expensive for what you get. The Nissan Leaf is a good 3-4 year lease option as your hedge against rising gas prices.

RE: Still.....
By Cheesew1z69 on 6/11/2013 3:39:06 PM , Rating: 2
Taxes that is...

RE: Still.....
By Samus on 6/11/2013 3:42:51 PM , Rating: 2
I'm looking at leasing the Leaf EV for $260 a month. I think buying an EV at this stage is pretty bad idea since the technology is changing so fast. The Leaf has improved fuel economy from the 2011 to 2013 model +30% by changing to a liquid cooling system. Things will only improve: aerodynamics, drivetrain efficiency, battery technology, etc.

RE: Still.....
By aurareturn on 6/11/2013 4:50:38 PM , Rating: 2
Well, I do pay more than $7.5k in taxes every year so it should benefit me.

$23k with 0% APR is a great deal for a Volt in my opinion. You can hardly get a decent new Civic for that price nowadays.

RE: Still.....
By lelias2k on 6/11/2013 5:16:32 PM , Rating: 2
You'll be financing $31k, and next year you'll get a $7500 tax credit.

RE: Still.....
By TSS on 6/12/13, Rating: 0
RE: Still.....
By BRB29 on 6/12/2013 8:30:35 AM , Rating: 2
You americans amaze and disgust me at the same time. You could really buy a volt with a clear conscience because "it's a good deal". Failing to see it costs your fellow americans $15,500 in tax payer money (tax credit is still lost tax revenue) to sell a car that would never turn a profit at double the quantity of demand.

Your brain cells are disgusting. I suppose we should let all the Volts rot and the billions of funding lost?

Tax credit is not lost tax revenue. You seem to have no knowledge or understanding of macroeconomics.

The $7500 goes to the consumer that pays the automaker. That money can be taxed because it is revenue to a business. It is also used to pay the employees whose income is also taxed.

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