Speaking at the Business of Plugging In Conference in Detroit, Michigan this week, GM's VP of Global Program Management told the audience that incentives will need to be increased for plug-in vehicles to start gaining a real foothold in the U.S. market.
Although GM won't announce pricing until its launch a year from now, most observers expect the Volt to run about $40,000. With a $7,500 federal tax credit, it will still be well over $30,000, which is very expensive for a compact car. Unless gas prices get significantly higher or incentives are increased, most buyers are unlikely to find this or other plug-ins to be a good economic proposition.
[Source: Detroit News]