Retailers, consumers and prices
Auto Show-Yes Virginia, there is a Volt-based Cadillac
(This is the first in a series of blogs that will come from Detroit this week during the North American International Auto Show and related events).
Not only is the Volt on the way, but now GM is planning to build a fancy version of the electric car.
GM will build a Cadillac version of the highly anticipated battery-powered Chevy Volt sometime in 2013 or later, Vice Chairman Bob Lutz said at the Detroit auto show. The rechargeable or plug-in Converj (pictured at last year’s show) will be aimed at consumers “who don’t mind paying a large price for a luxury vehicle” compared with the Volt’s expected price around $40,000.
The Volt is scheduled to go on sale in November, but will be limited to 50,000 to 60,000 units of production on an annual basis, Lutz said. GM expects to lose money on the Volt because of its high development costs but is using the vehicle as part of its effort to reinvent its public image.
However, the CEO of electric sports car maker Venturi said automakers may not sell electric vehicles in large numbers for some years.
Meanwhile, the Obama administration plans to announce the selection of nine projects totaling $187 millionaimed at improving the fuel efficiency of cars and trucks.