With production of the first-generation 2015 Chevrolet Volt range-extended electric car now officially ended at GM’s Detroit Hamtramck facility and pre-production tests now underway for the next-generation 2016 model, it will only be a matter of months before the first 2016 Chevrolet Volts hit dealer lots.
Like the arrival of any new model however, the impending arrival of the 2016 Chevrolet Volt means that both Chevrolet and its dealers are working hard to clear any outstanding stock of the outgoing 2015 model year car before the 2016 model year arrives.
In the automotive world, that means it’s time for massive discounts off MRSP along with cash-on-the-hood deals to make the 2015 Chevrolet Volt seem too good a deal to miss for anyone looking to grab a bargain.
As our friends over at GreenCarReports detail, that’s exactly what General Motors is doing, offering up to $2,500 in rebates on late 2015 model-year Volts in an attempt to sell remaining inventory.
Quoting CarsDirect — which like GreenCarReports is owned by High Gear Media’s parent company, Internet Brands — the site explains that Chevrolet has been offering a $1,500 bonus rebate for the outgoing 2015 model year Volt since April 14, bringing the total Chevy rebate to $2,500 before plug-in car incentives are factored in.
Add in the $7,500 Federal income tax credit available to anyone with a Federal income tax liability larger than $7,500 as well as any incentives available in your state or city, and it’s possible to buy a brand-new Volt for under $25,000.
Along with the $2,500 in Chevrolet rebates for purchase deals, Chevrolet is also offering a lower lease deal for remaining 2015 model year cars. Instead of the $299 lease payment for 39 months and 10,000 miles a year with $1,449 due at signing , Chevy will now let you walk away with a 2015 Volt for $249 per month for 39 months and 10,000 miles per year with just $500 due at signing.
Come to the Chevy dealership from another brand, and you’ll get a $500 bonus on your lease deal meant specifically for ‘conquest’ customers: people coming to the brand for the first time after owning a competing brand. In that case, the only thing you’ll pay at lease start are the usual registration and dealer fees.
Also available are 2.9 percent finance deals for 48-month purchase deals on any 2015 Volt, or a zero percent finance deal on 2014 model year cars still languishing in dealer lots around the country.
While that deal isn’t the best we’ve ever seen on a plug-in car, it is the best deal we’ve ever seen on a range-extended electric car or plug-in hybrid.
With sales far lower in the first quarter of 2015 than the same time last year — 48 percent lower in fact — there’s some pressure on GM to shift remaining first-generation Volts before the 2016 model year cars roll off the production line in August.
Two weeks ago, GM was estimated to have some 200 days worth of first-generation Chevrolet Volts in stock. The industry norm is around 60 days’ supply, leaving the automaker with 3.3 times the number of cars in inventory considered healthy for an automaker mid-cycle.
The official Chevrolet deals on the outgoing 2015 model year cars ends at the end of this month, but considering the number of cars in stock, we’d expect it to continue well beyond the end of April and possibly into the summer months too.
The real problem? With the 2016 Chevrolet Volt still not officially priced, we’d guess that some would-be buyers are holding out on making their purchase decision. With the next-generation plug-in offering a far greater range per charge than the outgoing model as well as an extra rear seat and better overall fuel efficiency, we can understand buyers reluctance to commit to buying a car until they know the price difference between new and old models.
For those who prefer the original Volt, or think they can get their deal down further however, there are some bargains to be had.
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