As the electric car market starts to get more competitive, Chevy have decided to start offering a $4000 cash-back incentive on the 2013 version of their Volt model.
There is also an incentive on the 2012 model that can be worth up to $5000 according to Michelle Malcho, a Chevrolet spokeswoman. She also mentioned that it’s the largest Volt cash incentive to date by the company.
For those who have no interest in buying, a Volt can also now be leased for $269 a month for 36 months with a $2399 down payment. Making the car accessible to all different kinds of buyers interested in doing their part for the environment.
The Volt is a plug-in hybrid (referred to by GM as an extended-range electric vehicle or E-REV) with a range of about 40 miles using just electric power, and another 300 to 400 miles on the range-extender gas engine.
Normally costing $39,995, the new cash-back incentives, combined with tax credits and other initiatives, make it possible to get hold of a Volt far below that price. Apart from the $4000 cash-back you can use to buy a Chevy Volt, there is a federal tax credit worth $7500 (if you buy the vehicle) and a $1500 cash incentive in California.
As well as a way to promote the 2014 Volt, the incentive is also essential for Chevy to stay competitive in the electric car market, which has recently started to slash prices and up the competition.
One rival in particular is getting very aggressive. Nissan dropped the price of their all-electric car – the Leaf – to $29,650, a reduction of $6400 from their 2012 model. The result of which was Nissan selling 319 percent more of the electric cars compared with last year.
Honda – another competitor – is even throwing in a home charging station for their Leviton electric car.
Is a $4000 cash-back incentive enough to make you interested in buying a Chevy Volt?