First Chevrolet Volt will go to highest bidder
The first production Chevrolet Volt has rolled off the assembly line at a General Motors Co. factory in Detroit, but anyone who wants to buy the electric-drive vehicle is going to have to bid for it.
The Volt — bearing the vehicle identification number ending in BU100002 — will be auctioned off, with all proceeds benefitting the Detroit Public Schools Foundation, the automaker said. Details on the auction can be found at Volt.CharityBuzz.com. Bidding ends Dec. 14.
“Every aspect of the Volt — from its aerodynamic shape to its battery chemistry — is a testament to the importance of math and sciences,” GM North America President Mark Reuss said Tuesday. “By encouraging Detroit-area students to pursue these topics, we hope to cultivate the next generation of engineers who will build upon the Volt’s innovative technologies.”
The Volt is the first of a new generation of mass-produced plug-in electric and hybrid vehicles to hit the U.S. auto market. It will retail for $41,000 when it hits showrooms in December, but it will be eligible for a $7,500 federal tax credit. Lease deals will also be available.
The compact sedan has a range of about 40 miles using only electricity from its battery, according to GM. It also has a gas engine to generate electricity to drive the motor when the batteries run out and extend the range by 300 miles. By year’s end, Nissan Motor Co. will launch its Leaf car, powered only by batteries. Ford will come out with an all-electric version of its Focus compact car next year.
The Volt has been a publicity boon for GM, which for years has faced critics who accused the giant automaker of suppressing the development of electric and alternative-fuel vehicles.
“There’s no denying the awareness and image boost the Volt has provided to GM over the past few weeks, and given the automaker’s recent history that alone may justify the car’s $1-billion investment,” said Karl Brauer, an analyst at auto information company Edmunds.com.
GM also said Tuesday that it would hire 1,000 engineers and researchers in Michigan over the next two years to expand its electric vehicle development. The new personnel will help the automaker develop and manufacture battery, electric motor and power control technology and components.
“We want to give our customers energy choices other than petroleum and to make the automobile part of the solution when it comes to the environment,” said Dan Akerson, GM’s chief executive.
But whether consumers are interested in such vehicles remains a question.
Kelley Blue Book, the auto pricing information company, said Tuesday that only 7% of car shoppers say they are likely to consider an electric vehicle for their next new-vehicle purchase or lease. The data comes from Kelley Blue Book’s Market Intelligence study.
Most survey respondents, 87% and 84% respectively, said they worry about how far they would be able to drive on a single charge and the availability of charging stations.
Also, 91% in the survey said that electric vehicles are expensive, and 43% thought they would not retain their value as well as conventional gasoline-powered cars.
GM shares rose 40 cents, or 1.2%, to $34.20.
