GM Offering Up to $5,000 in Incentives to Move Slow-Selling Volt
June 11, 2013 10:59 AM
comment(s) - last by
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."
The Detroit News
This article is over a month old, voting and posting comments is disabled
Dr of crap
Dr of crap
6/13/2013 12:32:51 PM
Any other one!
"And boy have we patented it!" -- Steve Jobs, Macworld 2007
Chevrolet Volt Sales Down 3 Months in a Row
June 4, 2013, 10:28 AM
GM Expects Next-Generation Volt to Be Profitable, Cost $10,000 Less to Build
May 3, 2013, 9:04 AM
Nissan Leaf Base Model Price Drops by More Than $6,000 to $28,800
January 15, 2013, 3:40 AM
2016 Cadillac CTS-V Packs 640 hp Punch with 200 mph Reach
January 23, 2015, 3:25 PM
BMW Testing Tech to Allow Users to Auto-Park, Summon Cars Via Smartwatch
December 16, 2014, 9:30 AM
Lamborghini Offers Up $6,000 Leather-Bound Android Smartphone
December 12, 2014, 3:12 PM
Quick Note: GM Teases Next Generation Chevrolet Volt
November 20, 2014, 3:26 PM
Audi is Latest to Step Into the Hydrogen Game, Delivers A7 Sportback h-tron quattro
November 19, 2014, 1:41 PM
Toyota’s Mirai Hydrogen Fuel Cell Vehicle Priced from $57,500 in the U.S.
November 18, 2014, 10:23 AM
Most Popular Articles
Microsoft Shows Off Latest Windows 10 Build, Preps it for Next Week Release
January 21, 2015, 2:57 PM
Under the Hood: How DirectX 11.3 and 12 Will Supercharge Windows 10 Gaming
January 23, 2015, 12:34 PM
Police are Using New Handheld Radar Sensors to Peer Into Houses w/out Warrant
January 20, 2015, 1:35 PM
BlackBerry CEO Claims Devs are Violating Net Neutrality by Not Supporting BB10
January 22, 2015, 4:37 PM
Report: Samsung Drops Snapdragon 810 From Galaxy S6, Will Use Its Own Chips
January 21, 2015, 1:47 PM
Latest Blog Posts
Sceptre Airs 27", 120 Hz. 1080p Monitor/HDTV w/ 5 ms Response Time for $220
Dec 3, 2014, 10:32 PM
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
More Blog Posts
Copyright 2015 DailyTech LLC. -
Terms, Conditions & Privacy Information