GM Increases Incentive for Chevrolet Volt image

GM will increase incentives for the Chevrolet Volt to reduce inventory which has grown more than 4.5 months.

Michelle Malcho, Chevrolet spokeswoman, said that the automaker has a 140-day supply of the Chevrolet Volt, which would be more than double the analysts would consider normal. Last week GM has started offering $4,000 off 2013 Volts and $5,000 off 2012 Volts, which lower the model’s suggested retail price of $39,995.

The US automaker began offering discounts to attract customers who do not qualify for a 0% financing deal or who might drive more miles than a lease allows. A customer can lease a Volt for $269 a month for 36 months, and $2,399 due at signing or he/she can buy the car with 0% financing for 48 months and get $3,000 in cash off the price.

Malcho also said that GM has boosted its incentives to keep up in the EV game which is extremely competitive and also to make some room before it starts manufacturing the 2014 Volt by the end of this summer. Through May the automaker sold 7,157 Volts, up 1.4%, compared with the same period last year.

Source: The Detroit News