By Jeff Bennett
General Motors Co. (GM) will debut its next generation Chevrolet
Volt plug-in hybrid in January as it looks to reinvigorate sales
damped by low gas prices and "range anxiety," which keeps many
American buying the traditional gas-powered car.
GM will unveil the 2016 Volt at the North American International
Auto Show in Detroit. The company declined to release pricing
details and how far the new car will travel on a full charge.
The current Volt travels about 40 miles on electricity before
switching to gasoline. Many consumers say they want the vehicle to
travel much farther on a single charge before they will consider
buying.
Setting the range issue aside, GM is in a box of sorts,
especially when it comes to consumers buzz around Tesla Motors
Inc.'s (TSLA) Tesla Model S compared with the Volt.
Sales of the Volt have fallen slightly to 10,635 year-to-date
through the end of July from 11,643 vehicles for the same time
period a year earlier.
However, the Volt still outsells the Tesla Model S electric
vehicle. GM in July sold about 2,020 Volts, while Tesla sold
1,500.
A year ago, GM cut the starting price of the Volt by 13% to
$35,000 from $40,000. Factor in federal incentives, and the price
tag falls to $27,500.
Meanwhile, the Cadillac version of the Volt, known as the ELR,
has failed to connect with customers. GM has only sold 578 ELRs
through the end of July.
Write to Jeff Bennett at jeff.bennett@wsj.com
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