Dealerships Still Offering Deep Discounts of Up to $10,000 Off Chevy Volt

By · September 24, 2012

Volt at dealership

Select dealerships are still offering Chevy Volts for up to $10,000 off MSRP.

General Motors is reportedly offering steep discounts to boost sales of the Chevy Volt, which had failed to live up to sales expectations until GM started slashing prices earlier this year.

According to estimates posted on TrueCar.com, discounts on the Chevy Volt reach up to $10,000 per vehicle. Some examples of the types of incentives offered by GM include low-interest financing and heavily subsidized leases. With steep discounts, sales of the Volt hit a record high of 2,831 units in August.

Clearly, price is a key factor in determining whether or not to purchase an electrified vehicle. Prior to incentives, sales of the Volt were slow to get off the ground, but as the price dropped, buyers came in droves.

Reports indicate that discounts on the Volt are nearly three times as high as the industry average and GM execs have conceded that the automaker currently loses money of each Volt sold. How much? GM won't say exactly, but former product chief Bob Lutz recently discussed the matter in response to a report that the automaker loses more than $40,000 per vehicle. Lutz emphatically dismissed that claim.

Regardless, sales are booming and much of the Volt's recent success can be directly contributed to GM's aggressive lease strategies. GM spokesman Jim Cain claims that most of the Volt discounts come in the form of lease deals, which account for nearly two-thirds of sales. Deals such as $249 per month with $2,400 down seem to be the norm for the Volt, but as Cain says, "We’re trying to create a market for a brand-new technology."

Comments

· Anonymous (not verified) · 1 year ago

Does that $10,000 discount include the $7500 tax credit? I believe it does. I think they roll it into the lease.

Now if you could walk into the dealer and get $10,000 off a cash purchase, plus the $7500 tax credit, plus state tax credit...8-o...wow, I would down at the dealership today.

· · 1 year ago

The best lease deals are on vehicles that are expected to hold their value. I can think of at least two reasons why the Volt will hold it's value. 1. A comprehensive 8 year/100,000 mile battery warranty (transferable at no cost) that includes loss of cell capacity. A Volt owner who reaches 100,000 miles without needing to use the warranty will have at least 70% battery capacity. 2. At 100,000 miles the ICE will have as much wear as a conventional vehicle ICE at 30,000 miles.

· Anonymous (not verified) · 1 year ago

Eric, please provide a reputable source (not the AP blog) for that 10k number. No one has been able to find it on TrueCar.com, or at a Chevy dealer for that matter.

· Anonymous (not verified) · 1 year ago

Would really like to know what dealership has this $10K discount available? Anyone know the deal? Thank you

· Anonymous (not verified) · 1 year ago

That is because there is no 10k discount, this is a puff piece with an agenda to push Volt's. Heck, it got me looking. If the price is right I would buy a Volt; I would also buy a Ferrari if it was 30k total so it isn't that I care so much about a Volt as I am interesting in having a potentially neat ride for 30k.

That being said, I have looked around and checked my local dealers and there is NO such discount to be found. Liar Liar pants on fire!

· Les Moss (not verified) · 1 year ago

I just purchased a 2013 Volt at a $3500 discount from list. Add to that state (CA) and federal incentives it was $12,500 off. So, $10K off on a lease is no big deal.

· Bret (not verified) · 1 year ago

@Les,

I live in CA.

Where did you go to get such a great deal?

· Callajero (not verified) · 1 year ago

$7500 federal + $2500 California is $10K. So if you got $3500 off the sticker price it comes to $13,500 discount. This is different than claiming GM is providng $10,000 discount which I don't beleieve!

· SPIKE (not verified) · 1 year ago

So the $10,000 CA incentive applies not just to the Chevy Volt but to the Nissan LEAF, Mitsubishi I, Coda Sedan, Tesla Roadster, Tesla Model S, Ford Focus EV, Toyota RAV4 EV, Honda Fit EV and the Fiskar Karma!

· KTate (not verified) · 1 year ago

Where? I checked with two dealers in Indy and no way.

· George Parrott (not verified) · 1 year ago

There seems to be some "hidden dealer incentives" being offered by GM to Chevy dealers moving more Volt models than their projected "monthly quotas." Rumors suggest that these hidden incentives MIGHT amount to as much as $5000/car if the dealer moves many more cars than their target quota. These kind of factory incentives have happened many times in the past for many models, by the way. Whether they are still in place today for the Volt.....??????

And it was my understanding that the California rebate on the Volt was $1500 not $2500.

But GM right from the introduction back in late 2010 of the Volt also added money to buy down lease contracts. I got a $2000 buydown when I opened the lease on my January 2011 delivered Volt. Of course the current lease payments are WAY, WAY more discounted than any of us "early adopters" received for VIN numbers in the first 2000 produced. Current GM leases on the Volt are as much as $120/month LESS than what early adopters are paying AND the startup cost to initiate a lease is also around $500 less than we all paid.

Given that one can still lease a 2013 Volt for around $299/month with only around $2700 to initiate, and then your monthly fuel costs will drop by about 75%, this means you might be saving up to $200/month on fuel (and virtually ZERO upkeep costs), the actual functional monthly cost of a new Volt vs. another typical $40,000 car would be around $100/month. For a $40k Volvo or other ICE vehicle you would have more like a $400/month payment AND upwards of $200/month FUEL cost.

· · 1 year ago

@ George Parrott,

You are right about the CA rebate being $1500.

http://energycenter.org/index.php/incentive-programs/clean-vehicle-rebat...

You can also get more money off if you have a GM credit card, and use the accumulated point.

· Les Moss (not verified) · 1 year ago

@Bret,

I was offered the same deal at multiple SF Bay area dealers. I purchased from the one with the car I wanted. I was told it was a one week offer. 2500 from GM and 1000 from the dealer. That was 2 weeks ago, it may be over now. That deal was also advertised by several dealer in the LA Times. I live between LA and SF. Local dealer (apparently) did not know about the GM incentive.

· Les Moss (not verified) · 1 year ago

BTW, this car exceeds expectations. Handles great. I love "Low" gear (Actually max regen braking when off accelerator pedal.) in the mountains and arround town. I drove from Mono lake to Fresno across the Tioga pass and hardly touched the brakes.

· Bret (not verified) · 1 year ago

Les, thanks for the tip. I live in Orange County and there are dealers in the Inland Empire that seem pretty aggressive. I will have to check it out.

BTW, I love the Tioga Pass. I fish in Virginia Lakes and it's a beautiful place.

· George Parrott (not verified) · 1 year ago

For max fun driving in the Volt, combine "Low gear" with the "sport mode" driving setting.

This combination produces the most regenerative braking (Low gear) and the most responsive "go pedal response (sport mode).

Some of the long-time Volt enthusiasts call this the "Tesla Mode" in the Volt.

For me, it has become my "standard mode." It is just WAY more fun!

· Les Moss (not verified) · 1 year ago

Low+Sport is my standard now too. I just wish it would stay in sport over a shutoff. Sport really should not be mixed up with the battery usage modes. It should be a separate switch so I could do Sport in Mountain mode.

· Mowog (not verified) · 1 year ago

I just took delivery yesterday. Rumors are right. Dealer was willing to do everything to get me to sign for the lease of the 2013 Volt. $299 for 36 month lease. 15k/yr miles. 3 months of my Toyota Venza lease picked-up- the lessor factored in the $7500 tax credit and a $2,500 incentive into the residual value to get the numbers to work. The deal is a no brainer- as word gets out, they should sell out of their inventory very quickly. Two days worth of driving and not a drop of gas used. Awesome!

· · 1 year ago

I went to two Chevy Dealers today looking to see if they really offered a $10,000 discount. One said I only get the discount if I lease. The other did not have a clue.

I heard this story on the NBC Nightly News from Brian Williams so I thought it was real. It got me into the dealership but no sale for me unless the price is really reduced to $30K before Federal Tax Credit. At 23K after Tax Credit, I am in.

· · 32 weeks ago

I got the proof but it was a 2013
go to the dealer with this picture
invoice picture
https://copy.com/utGfkrI1bLjtG1Rx

the price at the end of the video
http://www.youtube.com/watch?v=bzEmU4Ax-pc&feature=youtu.be

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