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August 6, 2013

Chevy Volt Falls to Electric-Car Price War GM Lops $5,000 Off Sticker of 2014 Model; Cheap Gasoline Tethers Sales of Plug-in Cars

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Surprise-Surprise who didn't see this coming?

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With a Republican Secretary of the Interior who will likely open up government land for drilling, these turkeys will no longer fly.

The hypocrisy of the green movement must be pointed out. Plug in models do more damage to the environment that the original charge while you drive models did.

As Jeff Bennett discussed in the Wall Street Journal

GM slashed the 2014 Chevrolet Volt's starting price by 13% in response to similar cuts by Nissan and Ford.

General Motors Co. GM -1.85% cut the starting price of its latest Chevrolet Volt electric car by 13%, expanding a price war among makers of plug-in vehicles in response to sluggish demand.

The price cut is yet another sign of the difficulties GM has faced trying to establish a market for plug-ins. Overall, plug-in vehicles sales are rising, driven by offerings such as the Tesla Model S from startup Tesla Motors Inc., TSLA -1.22% but despite government subsidies, they remain a niche.

Limited driving range is an obstacle for most all-electric cars. Volt, which uses a gasoline motor to extend its range to 380 miles, has to compete with fuel- efficient Chevrolets that sell for as little as half its sticker price.

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Auto makers are under pressure to sell more electric cars in California, which has quotas for zero emission vehicle sales, and are offering lease deals as low as $199 a month. For some consumers the low-cost leases make driving the cars almost free once government subsidies and fuel savings are combined.


Read more Here

Cross posted from We The People Blog

Posted by DancingCzars at August 6, 2013 11:44 AM



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