Bob Lutz

GM will be selling the Chevrolet Volt later this year for a price tag in the low US$30 000’s, and turn a profit on each car, according to chairman and CEO Ed Whitacre, Jr. The large lithium-ion battery packs contribute greatly to the car being a rather expensive one to produce, and had made the starting price a point of concern.

In 2007 vice-chairman Bob Lutz had thrown out a goal of under US$30 000, and that number was later adjusted to reflect a concern of higher production costs. Since that time however, Congress has passed legislation that will give initial Volt buyers a US$7 500 tax credit, and media speculation has thrown out figures as high as US$40k.

Whitacre settled these concerns in a recent interview, as well as the rumor that the first generation will be sold at a loss. “We’re not in business to lose money,…We did enough of that already.” said Whitacre. The Volt “is going to sell in the low 30′s,” he added. “We’ll get a margin on that.”