Published on June 14th, 2014 | by Christopher DeMorro
Cadillac Dealers Advertise $19,500 Off ELR's MSRP
The “newness” of the Chevy Volt seems to have worn off, and though sales have been steady, the Nissan Leaf has been surpassing it for the past few months. The $76,000 Cadillac ELR is doing even worse, which is leading some dealers to offer huge incentives to move stock…not a great sign for Chevy’s plug-in ambitions.
We found two examples, both over at the GM-Volt.com boards, that seem to indicate increasing incentives on both the Volt and the ELR. These aren’t in out-there, dyed-in-the-red states either. Rydell Chevrolet in Northridge, California, is offering up to $6,00 offer all in-stock Chevy Volts, which probably includes a mix of 2013 and 2014 models. That includes a $1,000 GM rebate, $500 “Chevy Conquest Private Offer”, and $4,500 from Rydell itself.Factor in the $7,500 tax credit, and you’ve got a whopping $13,500 off of the $34,185 MSRP, , bringing the Volt’s price down to just $20,695. Oh, and California also kicks in another $5,000, meaning you can get a Volt for just $15,695 … which is less than I paid for my Chevy Sonic.
Meanwhile Tropical Cadillac of Bradenton, Florida, reportedly sent out this email;
We just got $12,000 off incentives on the purchase of a new Cadillac ELR. Plus you get a $7500 tax credit! If you have not seen or driven this amazing vehicle, you need to come in and test drive one. This is the New electric vehicle from Cadillac, and it not only will save you a bundle at the gas pump, but it looks and drives amazing, Stop in today for a test drive.
$12,000 cash on the hood, plus another $7,500 from the Feds (in the form of rebates) means $19,500 off the ridiculous $76,000 asking price, which brings it down to a much more manageable $56,500. That’s like, exactly where the Cadillac ELR should have been priced to begin with. Not sure if it was greed or just misreading the market, but these incentives may indicate trouble brewing for GM’s pair of plug-in hybrids.