Chevrolet Volt Priced at $41K; But Lease at $350/month

Chevrolet VoltThe Chevrolet Volt from General Motors – the first mass-produced electric vehicle from a U.S. carmaker – will sell for $41,000, but consumers will have a more attractive lease deal if they get too much of a jolt from the sticker price.
The Volt’s price does not include up to $7,500 in federal tax credits for the four-door sedan which has a range of about 340 miles on a full charge and a back-up gasoline engine. The battery carries an eight-year/100,000-mile warranty.
Chevrolet today also announced plans to offer a lease program on the Volt with a monthly payment as low as $350 for 36 months, in addition to $2,500 due at lease signing. If you’re looking to pick up a new Chevrolet from the showroom, head over to a Wichita Chevy dealer to see what their latest offerings are like.
The lease deal would make the Volt more competitive with gasoline-powered vehicles in the same sedan class.
But General Motors also will have competition from Nissan’s Leaf, an electric vehicle to also make showrooms this year, and which will also qualify for the same $7,500 tax credit. The Leaf will sell for $32,780, but that does not including other state and local incentives which could bring its price down to just above $20,000.
Nissan will also offer a lease deal with similar terms to that announced today for the Volt.
But GM is touting the Volt’s versatility.
The Leaf is an all-electric vehicle with a range of 70 to 120 miles, but that depends on driving conditions, with zero emissions.
The Volt is powered by an electric motor that is also dependent on a lithium-ion battery. But the Volt also has a 1.4-liter four-cylinder gasoline engine. When the car runs out of electricity, the gas engine kicks in and works to generate electricity to the motor.
“The Chevrolet Volt is the only electric vehicle that can operate under a range of weather climates and driving conditions with little concern of being stranded by a depleted battery,” General Motors said in a statement.
The downside for the Volt is that it burns gasoline after the 40-mile range of the electric engine, possibly causing defections to Nissan by emission-free purists.
“The Chevrolet Volt will be the best vehicle in its class…because it’s in a class by itself,” said Joel Ewanick, vice president of U.S. marketing for General Motors, who made the Volt price announcement at the Plug-In 2010 conference. “No other automaker offers an electrically driven vehicle that can be your everyday driver, to take you wherever, whenever. The Volt will be packed with premium content and innovation, standard.”

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