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GM Hopes To Boost Sales Of The Chevy Volt By Offering A $5,000 Discount

Tyler Durden's picture




 

Just a few days ago we warned of the surging incentives among auto makers - and the diminishing benefits of that margin compression. It seems GM, not to be outdone by its peers, has stepped up with a hefty $5,000 discount for the Chevy Volt with demand for electric vehicles (EV) low, and falling lower, and manufacturers desperate to try anything to try and increase sales. Normally, after a couple of years of underperforming sales a manufacturer would pull its car from the market, however EV manufacturers are under pressure to keep struggling along, partly due to regulations in California (the largest car market in the US) that require all major manufacturers to offer a minimum number of Zero-Emission Vehicles. Unintended consequences once again appearing amid government regulation and cheap credit.

 

Via OilPrice.com,

General Motors has decided to offer potential buyers of the Chevrolet Volt as much as $5,000 to incentivise them into making a purchase. Demand for electric vehicles is low, and falling lower, and manufacturers such as GM and Nissan are desperate to try anything to try and increase sales.

 

GM has already reduced the price of the Volt so some doubt that performing the same trick again will help to boost sales, although Nissan experienced some success when it cut the price of the Leaf battery electric vehicle earlier in the year.

 

When first released onto the market nearly three years ago, expectations were high for the Volt and Leaf, but they have consistently failed to meet their sales targets, in fact only a few battery electric vehicles have actually come close to achieving their targets, the Tesla Model S being the obvious example.

 

Normally, after a couple of years of underperforming sales a manufacturer would pull its car from the market, however EV manufacturers are under pressure to keep struggling along, partly due to regulations in California (the largest car market in the US) that require all major manufacturers to offer a minimum number of Zero-Emission Vehicles.

 

NBC News explains that with this latest incentive offer form GM, you could pick up a Chevy Volt for as little as $28,495. Base price for the car is $39,995, but GM offers $5,000 off any 2013 model, and $4,000 off any 2013 model. Customers can also receive an extra $1,000 if they are currently leasing a non-GM car; they also qualify for a $7,500 tax credit from the government, and another $1,500 credit from the state.

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Fri, 06/14/2013 - 17:35 | 3659478 falak pema
falak pema's picture

in Bitcoins?

Fri, 06/14/2013 - 17:41 | 3659493 PSEUDOLOGOI
PSEUDOLOGOI's picture

I got your Bitcoins right here: https://bitcointalk.org/index.php?topic=231673.0

Fri, 06/14/2013 - 17:43 | 3659506 flacon
flacon's picture

It's all a gimick. Our entire economy is a gimick. 

Fri, 06/14/2013 - 17:47 | 3659511 knukles
knukles's picture

Bye The Fucking Dip!
People Quitting Work as a Sign of Confidence!
Volt Sales Surging due to Discounts!

It's Alive!
When plugged in....

(sigh)

 

scratching nuts ... wondering if good boxing match on tonight

Fri, 06/14/2013 - 17:50 | 3659526 Buckaroo Banzai
Buckaroo Banzai's picture

What else would you expect from Government Motors, except wholesale destruction of capital?

Fri, 06/14/2013 - 17:54 | 3659533 krispkritter
krispkritter's picture

B-b-b-b-but it worked so well for Detroit!

Detroit defaults on some debt to avoid bankruptcy filing

http://www.reuters.com/article/2013/06/14/us-usa-detroit-creditors-idUSBRE95D0OS20130614

 

 

Fri, 06/14/2013 - 18:05 | 3659559 kaiserhoff
kaiserhoff's picture

How about a free life insurance policy,

in case the battery explodes and blows your ass up?

That would be a real confidence builder;)

Fri, 06/14/2013 - 18:19 | 3659599 knukles
knukles's picture

Could also mention that OnStar can listen to any and all conversaitons 24/7/365 so that if the battery starts on fire, the electric windows are rolled up and the electronic doors are locked you can scream and somebody in Detroit will hear you if they happen to be working that day?

Fri, 06/14/2013 - 18:24 | 3659618 NotApplicable
NotApplicable's picture

Why not a $20,000 discount? Isn't that like four time betterer?

Fri, 06/14/2013 - 18:29 | 3659630 Cobra
Cobra's picture

Yeah, to get back the $20k you lose when you drive it off the lot!

Fri, 06/14/2013 - 18:39 | 3659665 Fredo Corleone
Fredo Corleone's picture

Memo to GM:

Package the "Volt" unit, and spin it off directly to the Office of the Governor in Sacramento.

You want mandated zero emissions ? You and the citizens of the Golden State directly subsidize it, Jerry. The people get the exact government they vote for; let them shoulder this "experiment;" not GM, or the people of the remaining 49 states.

Fri, 06/14/2013 - 18:54 | 3659693 Town Crier
Town Crier's picture

My tax dollars already paid for a Chevy Volt.  I'm still waiting for delivery.  That's what I get for doing business with welfare queens (General Motors).

Fri, 06/14/2013 - 20:23 | 3659902 espirit
espirit's picture

I'm still waiting on a free Volt AND $5000 cash to take it off their hands.

I call it the Boosting GDP for Amerika Plan.

Sat, 06/15/2013 - 09:41 | 3660663 NoDebt
NoDebt's picture

Nah, you got it all wrong, man.  The government knows the RIGHT way to fix this situation.  Start/escalate a war in the middle east (Syria, for example), spike oil prices well over $100/bbl which should increase demand for electric cars..... problem solved.

What's not to like, other than the body count and drag on an already faltering economy?  Right?

Fri, 06/14/2013 - 19:02 | 3659722 smlbizman
smlbizman's picture

elan musk....another propped up govt. stooge....looking at you zuckerass....

Fri, 06/14/2013 - 20:11 | 3659871 Meat Hammer
Meat Hammer's picture

Buy the car for $29,000, sell it privately for $26,000, take the $7,500 tax credit - minus the $3,000 you lost on the sale and come out $4,500 ahead.

The above is a bad idea because the car is a piece of shit and you'd still have to cover sales tax but I love brainstorming ways to fuck the government.

Fri, 06/14/2013 - 20:26 | 3659911 qqqqtrader
qqqqtrader's picture

Buy a bicycle, y'all probably need some excersize anyway.

Fri, 06/14/2013 - 20:30 | 3659917 espirit
espirit's picture

Buy the car and park it in the garage of your underwater home.  Short the batteries and...

Win, win.

Fri, 06/14/2013 - 18:02 | 3659553 reTARD
reTARD's picture

This is a REAL economy.

 

 

/sarc

Fri, 06/14/2013 - 18:26 | 3659622 Bad Lieutenant
Bad Lieutenant's picture

Didn't you hear?  GM is going to make it up in bulk.

Fri, 06/14/2013 - 20:06 | 3659859 knukles
knukles's picture

LOL
First time I read it as making it up on "bunk"

Fri, 06/14/2013 - 18:08 | 3659563 HelluvaEngineer
HelluvaEngineer's picture

The company who leases our office has new recharging stations for electrics.  There is no cost involved.  Free electricity.  So I wonder who is subsidizing that?

Thinking about filling the bed of my truck with lead acid batteries...

Fri, 06/14/2013 - 18:17 | 3659591 kaiserhoff
kaiserhoff's picture

Or hook up a bunch of faux windmills, sell the electricity back to the utility and pocket the tax credits.

Is this a great country?  Better not to ask.

Fri, 06/14/2013 - 20:34 | 3659926 Real Estate Geek
Real Estate Geek's picture

You and the other tenants are subsidizing it. The utility bills your landlord, who passes it through as part of the operating expenses you pay in addition to base rent.

Fri, 06/14/2013 - 18:08 | 3659565 AGuy
AGuy's picture

GM is also going to announce a fire sale for the Volt, with the slogan: "This car is Hot! Hot! Hot!". Here is the image from the sales promotion:

http://cdn.breitbart.com/mediaserver/Breitbart/Wrong%20Dimensions%20and%...

 

Fri, 06/14/2013 - 17:35 | 3659479 SilverRhino
SilverRhino's picture

Shocking .... Shocking I tell ya

Fri, 06/14/2013 - 17:36 | 3659482 NidStyles
NidStyles's picture

No thanks, you couldn't pay me enough to take one of those things.

Sat, 06/15/2013 - 08:01 | 3660575 Go Tribe
Go Tribe's picture

I'll consider buying a Chevy Volt only after it wins a NASCAR race.

Sat, 06/15/2013 - 16:51 | 3661332 MSimon
MSimon's picture

Racist.

Fri, 06/14/2013 - 17:38 | 3659486 Major Major Major
Major Major Major's picture

"GM offers $5,000 off any 2013 model, and $4,000 off any 2013 model."

 

Who picks $4,000 off?  Must be Goldman clients.

Fri, 06/14/2013 - 17:50 | 3659524 knukles
knukles's picture

It's so the buyers can pay the new taxes about to be levied on electric cars due to shortfalls of gasoline tax revenues...

 

Who thinks these shitty excuses up any more?
Bloody nonsense....

Fri, 06/14/2013 - 18:43 | 3659674 BidnessMan
BidnessMan's picture

+100 Bingo to Knukles

Fri, 06/14/2013 - 17:40 | 3659492 Dr. Venkman
Dr. Venkman's picture

In Delaware, the Gov (or his minion in the administration) is considering requiring all DEALERSHIPS maintain a on-lot stock of at least 15% green cars. This is after we got cornholed by the disaster that was Fisker.

Fri, 06/14/2013 - 17:52 | 3659501 Dr. No
Dr. No's picture

They could boost revenue by requiring the increase in lot size.  Coupled with the "rain tax", this could be a windfall for gov coffers!

Fri, 06/14/2013 - 18:34 | 3659647 dark pools of soros
dark pools of soros's picture

That was a damn good plant on boxwood there. Good to see Steve's survive!

Fri, 06/14/2013 - 19:20 | 3659764 Blano
Blano's picture

I think GM should just say to states like Cali and DE "ok, we're not going to keep your minimum, so maybe we just won't sell in your state at all."  Get the dealers all bent out of shape and marching on their capitals. 

Fri, 06/14/2013 - 21:15 | 3659976 Printfaster
Printfaster's picture

Me, me me.  I can solve this:

> maintain a on-lot stock of at least 15% green cars

Sell 85% of my lot to my cousin, and let hem store them as a distributor.  The tiny lot next door, properly walled off of course, will have one electric car. 

Is an electric car a modern version of an electric chair?  Seems about as handy, especially in Minnesota.

Fri, 06/14/2013 - 17:41 | 3659494 Dr. No
Dr. No's picture

Considering they are still operating on gov money, this could be considered a company specific tax credit?  Thats the beauty of these bailouts, who needs profits?

Fri, 06/14/2013 - 18:24 | 3659513 syntaxterror
syntaxterror's picture

Put a 400hp motor in it, raise it 5 inches, and add 20" wheels with spinning hubcaps and Dumb-mericans will flock to the dealerships to buy it.

Fri, 06/14/2013 - 17:46 | 3659514 SillySalesmanQu...
SillySalesmanQuestion's picture

Is there a fire extiguisher inclluded with that discount?

Fri, 06/14/2013 - 17:59 | 3659544 Nue
Nue's picture

Are you crazy G.M's makes no money off these cars they make their profit by taking out  life insurance policy's on all buyers and by having stock in burn centers across the country.

Fri, 06/14/2013 - 20:34 | 3659924 espirit
espirit's picture

+1 Good point.

Life insurance mandatory.

Fri, 06/14/2013 - 17:49 | 3659522 Yen Cross
Yen Cross's picture

      Hmmmm?----------------------------------------------  No thanks.

Fri, 06/14/2013 - 17:51 | 3659527 B2u
B2u's picture

Do they come with fire extinguishers or are you on your own when it catches fire?

Fri, 06/14/2013 - 17:54 | 3659534 trip kitchen
trip kitchen's picture

Attention G-Mart shoppers, there's a blue flame special on isle 13

Fri, 06/14/2013 - 17:55 | 3659535 ebworthen
ebworthen's picture

Wonder who's paying for that discount and for GM to build that jalopy? 

Oh wait...I am (and every other taxpayer).

Forward!

Fri, 06/14/2013 - 17:55 | 3659536 GrinandBearit
GrinandBearit's picture

Every time I see one of these hybrids driving down the road, it has an Obama sticker on the bumper.

Even the zombified liberals are starting to smarten up -lol

Fri, 06/14/2013 - 18:01 | 3659552 Yen Cross
Yen Cross's picture

  Every time I see one of those hybrids driving down the road, I see a bumper sticker that says, "Say NO 2 WW3".

Fri, 06/14/2013 - 18:08 | 3659564 1000924014093
1000924014093's picture

Liar.

Fri, 06/14/2013 - 18:28 | 3659627 Yen Cross
Yen Cross's picture

       If I validate the (spooks) will put me in a FEMA camp.

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