Every time we hear of an update on the Chevrolet Volt, it seems to be either that it is not likely to make its projected November 2010 launch date or will cost more than originally planned. That stays true today, as Monday’s reports have GM lobbying Congress to offer a tax credit on the plug-in electric vehicle, which features a gasoline engine for back-up.
If approved, the tax breaks would shave as much as about $7,000 from the Volt’s retail price, according to sources close to the project cited in an Automotive News report. The production numbers in the first year would range from 10,000 to 30,000, and grow as time goes on.
“The whole story on pricing is still a work in progress,” says the unnamed source. “Absent some sort of tax incentive, a $30,000 price is not likely.” While neither the Toyota Camry hybrid nor Toyota Prius can match the Volt’s claimed 40 mile range on electricity alone, they sticker for significantly less, at $26,310 and $22,160, respectively.
With or without the tax breaks, it seems likely the vehicle will be a money-loser for GM, with GM’s product chief Bob Lutz admitting it. “We’re now talking to the board about a lot of programs where it could be years before we make a dime on it,” he said.
