GM Not Expecting Any Profit From First-Gen Chevy Volt

Written by tonks on June 19, 2008

Chevy VoltBob Lutz from Chevy told reporters that the new Chevy Volt hybrid-electric series will cost around $40,000 – which is more than $10,000 more than the original model. He went on to say that this first generation of the Volt will bring in absolutely no revenue for General Motors.

There’s still hope for buyers who were hoping to snag a Volt closer to $30,000, as potential tax incentives on state and federal levels could trim the price substantially. Congress is currently considering proposed legislation for plug-in hybrid tax credits on the order of around $7,000. Still, there’s no telling what demand there will be for the Volt, and if it’s higher than the supply, we could see markups on GM’s high-tech hybrid from dealers who are trying to survive this transition from a market dominated by profitable trucks and SUVs to smaller, fuel-efficient vehicles.

According to Lutz, however, cars like the Volt are the way of the future, and GM’s car czar expects that between 2020 and 2025 a quarter to a half of all vehicles sold will be either electric- or hydrogen-powered.

Posted Under: Chevrolet,Cool Cars

Reader Comments

Well, they haven’t turned a profit in years, why should the Volt be any different? If they can’t make money on a car that gets 640 miles on a full tank ( I fear they can’t make any money at all….PERIOD!

Written By Chevy Volt Guy on June 19th, 2008 @ 3:12 pm

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