Although General Motors first targeted a $30,000 price tag for its 2010 Chevrolet Volt, GM vice chairman Bob Lutz has revealed that the nation’s largest automaker will miss that mark. Due to the high cost of development, the Volt will hit the market with a sticker price of about $40,000.
Lutz revealed the Volt’s likely price tag in an interview with the Seattle Times and added that he doesn’t expect GM to make a profit on its first-generation of plug-in hybrid vehicles. However, the 76 year old GM executive is hopeful that GM will be able to turn a profit on future plug-in vehicles.
Lutz recently drove a Volt mule and was quite pleased with how well it drove. In fact, Lutz is so confident in the program he declared that “for the first time, our well-thought-of Asian competitors will be left in the dust.”
The Volt is an extremely important product for GM and, even though the price might be slightly higher than expected, it’s good to see GM executives so determined to bring the car to market.
