Photo: General Motors
As we continue to wait for the promised influx of affordable electric cars, perhaps it’s time General Motors resurrect a car from its recent past, the Chevrolet Volt, to offer buyers another option in electrified transportation.
Despite the success of the Volt and an owner body with loyalty levels not seen since the Saturn days, GM decided that it wasn’t interested in hybrid technology. In its bid to transition to EVs, it’s building electrics alongside its existing conventional gasoline models while axing its hybrid offerings including the plug-in Volt and conventional hybrids sedans like the Malibu.
The Volt, which was introduced in 2010, lived for two generations. The last iteration, which was sold from 2016 through 2019, is a handsome five-passenger compact with an all-electric range of 53 miles. In its time, it was eligible for the full $7,500 federal tax credit thanks to its exceptional pure electric capability.
As of a result of its popularity, GM burned through most of its tax credits with the Volt, which began phasing out after the automaker sold 200,000 plug-in vehicles. Now, with the Inflation Reduction Act passing, GM will again be able to offer the credits starting January 1, 2023, on all its electrics including the Chevrolet Bolt and upcoming EVs including Equinox, Blazer and Silverado. New caps on vehicle pricing, however, will limit the federal break on cars costing more than $55,000 and trucks and SUVs with stickers beyond $85,000.
This brings us back to the Volt, which was retailing for about $35,000 when the plug was pulled in 2019. With the tax credits, the out-of-pocket price for the car was below $30,000, a relative bargain for a handsome fuel-efficient sedan in a market that sees the average vehicle going for more than $45,000.
There’s another element in favor of putting the Volt back into production. California’s ban on the sale of new internal combustion engine vehicles also includes a provision that allows manufacturers to sell up to 20,000 PHEVs as part of their mix of zero emission vehicles. Bringing back the Volt could provide incremental sales volume to GM in a market where buyers may want other options than pure EVs.
In fact, plug-in hybrid technology just makes a lot of sense, especially for people who rely on one car in their household or live in apartments or condos without regular access to an outlet for charging.
Even though Volt has been gone for three years now, it remains a highly desirable vehicle on the used market. Models with 50,000 to 60,000 miles are still going in the mid-$20,000 range, not far off from their original list price minus the tax credit.
There are few vehicles still on the market that can match its EV range of 53 miles and being able to travel that far between charges means that owners can effectively use the Volt as electric and bypass the high price at the pump for most driving and yet still be able take an occasional road trip. And by having the gasoline engine on board, the Volt won’t be out of service during a blackout.
While it’s understandable that from a cost perspective, building a vehicle with two sources of power instead of one is more expensive. However, the complex nature of our current infrastructure and the uncertain nature of the transition to electrics, may justify the expense.
What bothers me the most, however, is that GM has walked away from an affordable alternative fuel offering and yet continues to run ads touting its line of Chevrolet EVs that won’t be on the market for at least six months and in the case of the Equinox and Silverado, are a year away from hitting dealerships. For those looking to either go electric or significantly boost their fuel economy without breaking the bank, their choices are sadly limited to the Bolt when it comes to buying a mainstream automobile.
The Volt, which was introduced in 2010, lived for two generations. The last iteration, which was sold from 2016 through 2019, is a handsome five-passenger compact with an all-electric range of 53 miles. In its time, it was eligible for the full $7,500 federal tax credit thanks to its exceptional pure electric capability.
As of a result of its popularity, GM burned through most of its tax credits with the Volt, which began phasing out after the automaker sold 200,000 plug-in vehicles. Now, with the Inflation Reduction Act passing, GM will again be able to offer the credits starting January 1, 2023, on all its electrics including the Chevrolet Bolt and upcoming EVs including Equinox, Blazer and Silverado. New caps on vehicle pricing, however, will limit the federal break on cars costing more than $55,000 and trucks and SUVs with stickers beyond $85,000.
This brings us back to the Volt, which was retailing for about $35,000 when the plug was pulled in 2019. With the tax credits, the out-of-pocket price for the car was below $30,000, a relative bargain for a handsome fuel-efficient sedan in a market that sees the average vehicle going for more than $45,000.
There’s another element in favor of putting the Volt back into production. California’s ban on the sale of new internal combustion engine vehicles also includes a provision that allows manufacturers to sell up to 20,000 PHEVs as part of their mix of zero emission vehicles. Bringing back the Volt could provide incremental sales volume to GM in a market where buyers may want other options than pure EVs.
In fact, plug-in hybrid technology just makes a lot of sense, especially for people who rely on one car in their household or live in apartments or condos without regular access to an outlet for charging.
Even though Volt has been gone for three years now, it remains a highly desirable vehicle on the used market. Models with 50,000 to 60,000 miles are still going in the mid-$20,000 range, not far off from their original list price minus the tax credit.
There are few vehicles still on the market that can match its EV range of 53 miles and being able to travel that far between charges means that owners can effectively use the Volt as electric and bypass the high price at the pump for most driving and yet still be able take an occasional road trip. And by having the gasoline engine on board, the Volt won’t be out of service during a blackout.
While it’s understandable that from a cost perspective, building a vehicle with two sources of power instead of one is more expensive. However, the complex nature of our current infrastructure and the uncertain nature of the transition to electrics, may justify the expense.
What bothers me the most, however, is that GM has walked away from an affordable alternative fuel offering and yet continues to run ads touting its line of Chevrolet EVs that won’t be on the market for at least six months and in the case of the Equinox and Silverado, are a year away from hitting dealerships. For those looking to either go electric or significantly boost their fuel economy without breaking the bank, their choices are sadly limited to the Bolt when it comes to buying a mainstream automobile.
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