Chevrolet Announces Pricing of Volt; Edmunds.com Comments
SANTA MONICA, Calif. — July 27, 2010 — Today, during the Plug-In 2010 Conference in San Jose, Calif., General Motors announced the pricing for the Chevy Volt, the extended-range electric vehicle which is expected to be released by year-end. It will be initially sold in California, Michigan, Washington, D.C. along with Austin, Texas and New York City. The pricing of the vehicle was announced at $41,000, before a $7,500 tax credit.
"GM's pricing strategy is a bold one that will reward the company if it works because it means the Volt likely will be sold for something close to what it costs to build and won't be straining GM's red-ink supply," reported John O'Dell, Senior Editor at Edmunds' GreenCarAdvisor.com in a story titled "Volt to List at $41,000: GM Says Unrealistic to Compare It With $32,780 Nissan Leaf. "If consumers reject the idea of a $41,000 Chevrolet four-seater - even one with stellar fuel efficiency and next-generation powertrain technology - GM will have spent more than $750 million on a losing bet. The failure would damage its reputation and endanger its financial future by putting it years behind the competition in coming up with a marketable fuel-efficiency play."
Jason Kavanagh, Engineering Editor for Edmunds' InsideLine.com had this to say after the 2011 Chevrolet Volt first drive. "Aside from the charging process, the Volt functions usefully as a normal car. It doesn't force you to live with the limitations of a pure electric car, while providing a large chunk of the benefit. The overall, overriding impression the 2011 Chevrolet Volt gives you is one of normalcy. There are no bad habits or overtly obvious telltales of what's going on behind the curtain — you just get in and drive."
In November 2009, Edmunds.com submitted a proposal on changing the window sticker on new car vehicles to highlight usage costs versus miles per gallon numbers to help provide a better comparison of vehicles and technologies. Edmunds.com's proposal suggests that all-electric vehicles and other alternative fuel vehicles are expected to be given "MPG-equivalent" ratings generated by complex algorithms that attempt to translate other forms of energy into a comparable measurement. These measurements provide a useful analysis for electric and other forms of technology.
The chart below sets forth the projected monthly fuel costs for a variety of vehicles.
|EPA Rating||Monthly Fuel Cost|
|2009 Mini E||Electric||99 mpge||$49.39|
|2010 Toyota Prius||parallel hybrid||50 mpg||$66.78|
|2009 Toyota Prius||parallel hybrid||46 mpg||$72.58|
|2009 Honda Civic GX||CNG||28 mpge||$77.23|
|2010 Ford Fusion Hybrid||parallel hybrid||39 mpg||$85.61|
|2010 Jetta TDI||Diesel||34 mpg||$103.38|
|2010 Ford Focus||gasoline||28 mpg||$119.24|
|2010 Honda Accord I-4||gasoline||25 mpg||$133.55|
|2009 Chevy HHR Flex Fuel||on gasoline||25 mpg||$133.55|
|on E85||18 mpg||$152.22|
|2010 Chevrolet Silverado 5.3 V8 Flex Fuel||on gasoline||17 mpg||$196.40|
|on E85||13 mpg||$210.77|
|2011 Chevy Volt||series plug-in hybrid||230 mpge||$53.55|
For more information on Edmunds.com's Monthly Fuel Cost, please visit: http://www.edmunds.com/industry-car-news/fuel-mileage-equivalency.html and to review Edmunds.com's proposal letter to the Environmental Protection Agency, please visit http://www.edmunds.com/industry-car-news/monthly-fuel-cost-letter.html.
About Edmunds.com, Inc. (http://www.edmunds.com/about/)
Edmunds.com Inc. publishes four Web sites that empower, engage and educate automotive consumers, enthusiasts and insiders. Edmunds.com, the premier online resource for automotive information, launched in 1995 as the first automotive information Web site. Its mobile site, accessible from any smartphone at www.edmunds.com, makes car pricing and other research tools available for car shoppers at dealerships and otherwise on the go. InsideLine.com is the most-read automotive enthusiast Web site. Its mobile site, accessible from any smartphone at www.insideline.com, features the wireless Web's highest quality car photos and videos. CarSpace is the most established automotive social networking Web site. AutoObserver.com provides insightful automotive industry commentary and analysis. Edmunds.com Inc. is headquartered in Santa Monica, California, and maintains a satellite office in suburban Detroit. Follow Edmunds.com on Twitter@edmunds and fan Edmunds.com on Facebook at http://www.facebook.com/edmunds.