General Motors CEO Edward Whitacre shocked the automotive world Monday when he stated that the 2011 Chevrolet Volt hybrid would “sell in the low 30s” and “we’ll get a margin on that,” Green Car Advisor reports.
That’s because it won’t. GM spokesman Dave Darovitz had to correct Whitacre, revising his statement to mean that after a $7,500 credit, the car would sell for somewhere in the low $30,000 range.
The $7,500 refers to a federal tax credit that purchasers of the 2011 Volt will receive.
Join the conversation about this story »
See Also:
- GM’s Volt Will Get 230 Miles Per Gallon City Rating
- Henderson Out Because Whitacre Was Sick Of Having To Backseat-Drive Him
- GM Working On More Hybrids Than Just The Volt