Volt Sticker Shock: Supercharged Prices for Chevy's Plug-In Hybrid

MARK RALSTON/AFP/Getty Images

If you're in the market for a Chevy Volt, part of the plug-in hybrid's appeal is probably the gas money that its electric engine will save you. But if you're planning to plug one into the outlet in your garage anytime soon, you may be in for a shock -- sticker shock, that is -- at what's being charged for this rechargeable car.

The manufacturer's suggested retail price for the Volt starts at $40,280, but with the revolutionary vehicle in short supply and high demand, some Chevrolet dealers are marking the Volt's price up, way up, from its MSRP.

According to the Arizona Daily Star, Moises Paiewonsky, a 29-year-old assistant music professor from Tucson, flew cross-country to New York -- one of only a half-dozen states plus the District of Columbia where the car is currently available -- to plunk down $50,000 for his Volt, about $6,000 more than his particular model's sticker price.

"It's a very special piece of technology," he explained to the newspaper. "I think it's the way of the future..."

And Assistant Professor Paiewonsky isn't alone in paying a special price for the "special piece of technology." According to Ward's Auto, a number of Volt's are popping up on eBay with similar price hikes: Camino Real Chevrolet in California is asking $47,700 -- $4,000 over MSRP -- for a "Cyber Gray" model and Tennyson Chevrolet in Michigan wants $47,500 -- more than $2,500 over MSRP -- for a "Virdian Joule" Volt.

"We get people coming in just to look at the car," General Manager Dominick Wieczorek told the website of the one Volt his dealership was allotted.

The Volt, which was launched last November, is currently only available in California, Connecticut, Michigan, New Jersey, New York, Texas and the District of Columbia, but General Motors says its automotive wonder will become widely available nationwide by the end of the year.

Now keep in mind, no matter when you buy a Volt, your final cost will be off-set by the $7,500 tax credit that you'll get from Uncle Sam for reducing your emissions. And no matter how much you pay for one, don't worry, you won't have paid the steepest price. That distinction belongs to Rick Hendrick, a car collector and owner of a chain of auto dealerships, who paid a whopping $225,000 for the honor of owning the very first Volt offered up for public sale.

Moneywatch.com: Leaf Beats Volt in New Ranking

Carter Yang is a Washington-based producer for the CBS Evening News with Katie Couric. He covers aviation, transportation, and homeland security.

[levelheadedtoo]

I read that the battery life is 6 years. If this car sells for 45,000 and a normal chevy cost 20,000 it will take you almost 8 years to break even on fuel savings. Assuming you fill up with 13 US gallons a week at $5.00 per gallon. If you need to replace the battery it will cost you about half the price of the card plus disposal fees. So, there is almost no resale value on one of these cars. It seems to be a novelty item. It looks like you can drive a conventional car for many years before coming close to the cost of a Volt.

[rwsmith29456]

You still have to pay for the electricity.

[rockcutr]

The pricetag is a pitiful display of arrogance.
The electric Edsel.
Fear not, your friends in the gooberment will bail out horrible engineering with a tap tap on the wrist. And a try harder next time guys.
Then management will make another run at a consumer unfriendly machine to overprice and force down peoples throats and call it candy.
I wonder if there are extra strong tow points on this rolling battery.
Just wait until one of these things explode in a crash. End of this story.

[ArdeeB]

Well, something's not working. Apparently, there are less than 650 Chevy Volts and only around 100 Nissan Leafs on the road nationwide.

http://www.associatedcontent.com/article/7769692/electric_cars_slow_to_take_off.html?cat=27

[sjc_1]

We could have 1 million EVs on the road in 10 years and reduce oil consumption 0.1%. Support the Open Fuel Standard for a 10% reduction.

[daffy64]

Look at this stat from wikipedia:

With modern unconventional oil production technology, at least 10% of these deposits, or about 170 billion barrels (27?10^9 m3) were considered to be economically recoverable at 2006 prices, making Canada's total oil reserves the second largest in the world, after Saudi Arabia's.

Americans don't need electric cars.

[daffy64]

Electric cars are stupid. They use power from coal fired plants. The problem with this is that the USA has lots of coal.

Oil powered cars help other countries with their economic problems. Canada and Mexico are the US' largest suppliers of oil. Followed by Venezuela and Saudi Arabia. These countries RELY on American dollars to survive.

If you switch over to these stupid electric cars, Canadians will have to start paying for their own health care.

Stupid.

[retiredgustav]

100 years ago it was "GET A HORSE".

[discussthis]

Go ahead, tree huggers, buy a Chevy Volt, and good luck when dems are out of power and no longer subsidize recharging stations.
I'll buy that Volt from you for ten bucks and start a museum dedicated to "Suckers for Hope, Change, and Volts".

[daffy64]

Right on!!! The problem with electric cars is that they use 100% American power. This does nothing to help other countries.

Most US oil is imported from my country, Canada. And also from Venezuela, Mexico, and Saudi Arabia.

Americans should reject these stupid "three hugger" cars and use as much oil as possible.

[discussthis]

Or, we could allow new U.S. refineries to be built, and new drilling both offshore and onshore, and reduce our dependence on Canada and OPEC. Given the choice, I'll take the domestic drilling and production, and let Canadians buy obamao's Volt.

[helloall34]

At some point people are going to start considering the cost of the electricity to charge an electric vehicle. I ran some rough numbers while looking at the all-electric Nissan Leaf. It is not significantly cheaper then gas and because of the current lack of infrastructure to "refuel" electric vehicles it is very inconvenient. No one seems to talk about this yet, but I'm sure it is coming... I am not saying electric is not the future, but there will NOT be significant fuel cost savings for those purchasing these vehicles. Of course those making the purchase right now are people who have enough money to buy a 60K, stripped-down, vehicle just for the sake of being able to say they have one. Even the "green" argument is not clear, it depends where the electricity comes from.

[Janfebmarapr]

And yet another ridiculous comment.
LOL

[daffy64]

That's right. Electric cars are really dumb. Americans should use as much Canadian fuel as possible.

[Janfebmarapr]

Don't you just love capitalist pigs and their greed?
Here's an idea - Pay list price, no more, or no tax credit.
How's that?
Stinking capitalist pigs.
"If you want one you will have to pay us ridiculous manipulated prices for obscene profits, or we won't let you have one".
This isn't some sports car, this is one of only a few electric cars that you can even buy.
This is what you get with tax breaks for businesses and the wealthy -pure greed.
This is also what you get when GM is no longer controlled by the government.
Like it?
Good.

[smitvict]

If you had folks pay list price with no tax credits, the VOLT would not compete against current fossel fuel cars and GM would cease production. And all the capitalist hating liberals would cry. Waaah.

[nomossonmyrocks]

If it were not for GE the Volt would be tanking already. Ge bought the ones they did to replace all of their corporate vehicles and because they are building the recharging stations that will be installed around the country. The Nissan Leaf rated higher than the Volt.

[Janfebmarapr]

Ridiculous fantasy comment.
And the Ford Focus electric is rated much higher than the Leaf by all accounts.
"GM will increase production of the 2011 Chevy Volt by 50 percent in 2012. Production will move from 30,000 units to 45,000 units.
The initial orders for the Volt appear to be healthy; otherwise GM would not be ordering up an increase in production"

[smitvict]

The VOLT isn't an electric, it is a hybrid. Only the LEAF is a true electric.