While electric vehicle sales haven’t been exactly inspiring, the Chevy Volt has managed to pick up some serious steam among consumers despite its $39,995 MSRP. With a next-generation Volt already under development, GM’s President of North America Mark Reuss has said that they will shave “thousands of dollars” from the price. But is it enough to make the Volt a true mass-market competitor?
It really depends on just how much money Reuss and GM think they can cut from the cost of the Volt. Right now, there is a lot of room for improvement, as even with the $7,500 Federal tax credit, the Volt still rings in at $32,495, a substantial sum for a vehicle based on the Chevy Cruze. But if GM could get the after-rebate price below $30,000, that could open up the market to more consumers.
And it can be done. Nissan just announced a huge, $6,400 price cut for the Nissan Leaf. When combined with certain state and Federal rebates, the Leaf can be had for around $20,000 or less. While we don’t expect as large a price cut to the next-gen Volt, refinements in battery and motor technology could see substantial savings over the current model.
Reuss goes on to say that GM still believes in EVs, and that the eulogy for the electric car that some outlets are singing is premature. Fair enough, but with sales of most EVs stagnant at best, it is hard to trumpet the success of electric vehicles either. Can the Chevy Spark EV reignite the public’s passion for electric cars? GM is hoping so…though right now, the Volt seems like a better bet.
Source: Automotive News