Looking for a new car? Check out our newly redesigned 'Cars For Sale' experience!
Bob Lutz revealed to the Seattle Times that the price point for his company's Chevy Volt series hybrid electric vehicle will be $40,000, or around $10,000 more than originally estimated. Lutz also told the paper that the first-generation of the Volt would generate no profit for General Motors. There's still hope for buyers who were hoping to snag a Volt closer to $30,000, as potential tax incentives on state and federal levels could trim the price substantially. Congress is currently considering proposed legislation for plug-in hybrid tax credits on the order of around $7,000. Still, there's no telling what demand there will be for the Volt, and if it's higher than the supply, we could see markups on GM's high-tech hybrid from dealers who are trying to survive this transition from a market dominated by profitable trucks and SUVs to smaller, fuel-efficient vehicles. According to Lutz, however, cars like the Volt are the way of the future, and GM's car czar expects that between 2020 and 2025 a quarter to a half of all vehicles sold will be either electric- or hydrogen-powered. We'd put our money on electric, as this country has not gotten serious yet about building a distribution network for hydrogen.

[Source: Seattle Times via AutoblogGreen, Photo by STAN HONDA/AFP/Getty ]

Share This Photo X