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 marvdmartian on 6/12/2013 7:57:52 AM , Rating: 2
Agreed. Even allowing the $5000 rebate, taking the $7500 off the top (instead of just having it as a tax break on your income), and a 2% loan for 60 months, and including TT&L, the payments are over $500/month.

In reality, since you won't get handed $7500 credit (but will instead only be able to take that off your taxable income), the payments on a 5 year loan, at 2% interest, would be over $630/month.

Sorry, but that's simply NOT affordable!

RE: Still.....
By Mint on 6/12/2013 9:55:00 AM , Rating: 2
Stop making BS arguments. The only difference in the tax credit and regular savings is the time value of that year.

Make it a 72-month loan initially ($35k @ 2% => $516/mo), and make a one-time $7500 extra payment in May next year, and your loan gets paid off by Mar 2018 (i.e. less than 60 months from today).

Not affordable? Drive 25-35 miles on electricity for 25 days a month, and you save $70/mo in fuel cost. If you can barely afford $500/mo for a Volt, then for a non-plugin you can only afford $420/mo, i.e. a $24k loan.

So what $24k car is as good as a Volt?

RE: Still.....
By BRB29 on 6/12/2013 7:17:51 PM , Rating: 2
At 24k, the car is undeniably a good deal however you look at it.
At its original price, it is not worth looking at.

RE: Still.....
By Dr of crap on 6/13/2013 12:32:51 PM , Rating: 2
Any other one!

"This is from the It's a science website." -- Rush Limbaugh

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