As automobile industry suffered from bailout by America’s government during economy recession, GM also stands for ‘Government Motors.’ While visited by President Obama in the state of Michigan, ‘General Motors' announced the price for mass-produce electric car with a sticker tag of $41,000, reported washingtonpost.com.
This electric car can run on batteries. The car can go as far as 40 miles on its battery charge. Using its gasoline-powered generator, the car can also add an extra 340 miles. With its environmental appeal, this electric car can also attract ‘green’ consumers. For the first year of production, GM plans to manufacture 10,000 Volts as 2011 model.
Many automobile analysts were shocked when GM announced the price tag at $41,000, because compared to conventional gasoline-powered compact sedans, including Toyota Corolla, Chevy Malibu, Honda Civic, or Ford Focus; these compact sedans cost less than $20,000. However, in order to allure more buyers, America’s government gives incentive for electric car buyers, where each buyer could receive a $7,500 federal tax credit.
According to washingtonpost.com, in order to hit sales target during its first year, Chevrolet Volt will offer leasing program. Initial estimated monthly payment for buyer is about $350 per month for 36 months. Buyer will also has to put down-payment of $2,500 at signing.