Did GM Just Price the ELR Out of Feasibility?
The Chevrolet (NYSE:GM) Volt certainly made impressions with consumers when it was released in 2011, but not always favorable ones. While its plug-in powertrain seems to be met with generally favorable sentiments, the car’s price was the biggest drawback for the vehicle, as there were — and are — few people who could justify spending nearly $40,000 on a compact car, even if the mileage it offers is pretty impressive.
However, with all the research and development, money, and other resources that it took General Motors to develop to car, it didn’t make sense to keep the Volt and its guts relegated to the Chevy bowtie. It was only a matter of time before a Volt-based model under a different name came along, and that time is nearing, as the Cadillac ELR will soon be unleashed in Caddy dealers nationwide.
As for those who were shocked by the Volt’s high base price, the Cadillac doesn’t disappoint — the ELR, roughly the same size and boasting the same internals as the Volt will start at a cost of $75,000, immensely more than was predicted by Autoblog a few years ago. This price is before any green car government incentives, which can go as high as $7,500 for just the federal rebate. States offer their own incentives as well.