GM decided to offer low lease prices because it can retain and eventually reuse the expensive, lithium-ion battery packs. And the automaker can apply a $7,500 federal tax credit, per vehicle.
Robert Snell And David Shepardson - DETNEWS
- July 27, 2010
General Motors Co. will offer a competitive lease price on its Chevrolet Volt that could soothe consumers hinky about buying a vehicle that relies on pricey battery technology.
The lease price will be unveiled today, along with the Volt's retail price tag of slightly less than $40,000, minus a $7,500 federal tax credit. The pricing is one of the last secrets surrounding a car that GM hopes will turn around its perception as the maker of gas-guzzling SUVs.
The Detroit News has learned that GM plans to set a lease price that will be far lower than monthly payments to buy the extended-range electric car, and competitive with Nissan's Leaf, whose monthly lease price starts at $349.
The Leaf will retail for $32,780 before the federal credit.
"No one has ever done this type of vehicle before. People might be very hesitant of buying something that's this new and different," said auto analyst Joe Phillippi of AutoTrends Consulting in Short Hills, N.J.
"To a lot of people, if the Volt doesn't work as advertised, by leasing it, GM takes all the uncertainty out."... [Read More]