GM to Lower Chevy Volt Price by ‘Thousands’

The next generation model will feature a new compact platform

   

Volt 300x200 GM to Lower Chevy Volt Price by 'Thousands'General Motors (NYSE:GM) is looking to trim the price of its much-touted electric car, the Chevy Volt.

According to a GM executive, the Volt will see its price fall by “thousands” of dollars as the automaker introduces a new a compact platform specifically designed for the Volt’s electric power plant in the car’s next generation model, USA Today notes.

cars GM to Lower Chevy Volt Price by 'Thousands'
GM Recalls 69,000 Vehicles on Roll-Away Risk

The Volt features batteries that can be charged overnight, allowing drivers to travel about 35 miles before a gasoline-powered engine kicks in.

Currently, the Volt is built on GM’s standard compact-car platform, which was designed for normal gasoline engines. A platform developed specially for the Volt will better accommodate its batteries and electronics.

GM is introducing a luxury version of the Volt, the Cadillac ELR, which debuted at the North American International Auto Show earlier this week.

Currently, the Volt is priced at about $40,000, which has proven a stumbling point for consumers. GM is said to be losing tens of thousands on dollars on each Volt it sells, though it disputes the exact extent of that loss.

Shares of GM rose about 1% in Thursday morning trading.


Article printed from InvestorPlace Media, http://investorplace.com/2013/01/gm-to-lower-chevy-volt-price-by-thousands/.

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.