Over 33,000 buyers signed up for GM electric car

[TylerDurden]

DETROIT (Reuters) - In a bid to show the demand for the upcoming all-electric Chevrolet Volt, a proponent of the car has released details of an unofficial waiting list for the vehicle with over 33,000 prospective buyers.

Lyle Dennis, a New York neurologist who has emerged as a prominent enthusiast for the battery-powered car from General Motors Corp (GM.N), has been assembling a list of prospective Volt buyers for over a year through his Web site http://GM-Volt.com.

On Tuesday, Dennis released details gleaned from the list showing that 33,411 people had signed up to show their intent to buy a Volt when the rechargeable car is released in 2010.

The list shows the highest number of potential Volt buyers in California, Texas, Florida and Michigan. It also includes potential buyers from 46 countries outside the United States.

The average price buyers were willing to pay for the car was $31,261 -- substantially less than the $40,000 GM has said it will cost to build the first-generation of the car equipped with a massive lithium-ion battery pack.

GM has been racing to finish development of the Volt in time for the planned launch as the centerpiece of its effort to break a costly association with gas-guzzling vehicles at a time when truck sales are tumbling and gas prices remain high.

Like most automakers, GM typically keeps its vehicle development programs under tight wraps and shuns publicity.

But with the Volt, GM has taken the opposite approach, actively consulting enthusiasts like Dennis and featuring the concept version of the Volt in high-profile advertising, including a television spot broadcast during the Olympics.

Dennis, who organized a meeting between enthusiasts called the "Volt Nation" and GM executives at the New York Auto Show earlier this year, said he was motivated by a desire to show the Detroit-based automaker that the Volt would have a wide base of buyers from the start.

"If everyone who wanted a Volt could get one, that would be the dream," said Dennis.

GM, which does not expect to make money on the first-generation of the Volt, has said it will ramp up output slowly when production of the plug-in hybrid starts at a Hamtramck, Michigan plant.

A GM spokesman said that the automaker expected an initial shortage for the Volt, similar to the shortages for other hot-selling recent models.

"I don't know if there is any other vehicle or any other technology that has generated this kind of interest because of the state of the market and gas prices," said GM spokesman Dave Darovitz. "We know the demand is going to be there."

Darovitz declined to discuss pricing for the Volt

GM showed off a concept version of the Volt in January 2007 but has retooled the look of the vehicle significantly since then, in part in order to improve its aerodynamics, representatives of the automaker have said.

GM is designing the Volt to run for 40 miles on a lithium-ion battery pack that can be recharged at a standard outlet. The Volt will also capture energy from braking, like a traditional hybrid, and feature an on-board engine that will be used to send power to the battery on longer trips.

GM is racing Toyota Motor Corp (7203.T) to bring the first mass-market, plug-in car to the marketplace.

http://news.yahoo.com/s/nm/20080812/tc_nm/volt_list_dc;_ylt=Al5CMSzJ3IV6zKos_SW.ze4WIr0F

 

[dogman dan]

To me the volt looks heavy. I bet a lighter car could go a lot further on 20,000 bucks worth of lithium.

 

[TylerDurden]

If they would simply electrify the vette, they'd make a pile of dough.

 

[sabrewalt]

Like the vett idea. fiberglass car... compete with that Tesla!!

 

[andys]

all they need is Samsung made 200AH LIFEPO4 batteries for that thing. It would have a 80 mile plus battery only capacity. I don't know why they are fooling around with LION. Oh Wait, its GM, and they are like 1/2 a trillion dollars in debt from all their great decisions they have made over the past 20 years.

 

[EMF]

My guess is the batteries they are using are cheaper than the LifePo4 you mention. They are *for some reason* concerned about a $30,000 price point and they say they can't hit it. They think that if it is over this point, no one will buy. I guess they can't read a freakin paper or don't have Internet access though, as people are lining up for Teslas 6 figure ride. Of course, the Tesla is in a different class, range and performance wise - so maybe they have done some polling or gathered up some "focus groups" and this is what they told them.

They have already been hitting up Congress for a $7,000 tax credit for those that will buy the car, to try to make up for the cost overruns.

 

[Lessss]

The simple fact is that US car companies DO NOT WANT to build electric cars. Furthermore the US government doesn't want them to build them either.

Electric cars last longer are more reliable and don't need as much infrastructure to support them.

No more gas stations(ok there'll be charging stations but those'll be automated).
No more Garages(Ok just a few here and there performing mundane things like changing tires and winshield wiper fluid).
No more mechanics(Ok very very few of these and most will need electronics degree, all the grease monkies will be out of work).
No more high demand for OIL, all the big US companies are pigging out on oil profits and they control the Gov't. They don't want that trough to run dry.

Electric Cars? Ya right, as if you'll see any full production runs of those anytime soon!

 

[docnjoj]

7000x30000=210 million bucks! We spend that in a couple of days in Iraq! Id go for the subsidy and buy electric, if that was what it took!
otherDoc

 

[EMF]

I think it's important to remember, that this time last year and for decades prior, the Ford F-150 was Fords big seller. The big three have invested millions in these type production lines and suddenly, this year, people got sensitized to gas and are no longer buying these gas guzzlers. All the money they invested in these lines are now lost - and all the "Like a rock" TV ads are money wasted. they have a whole new paradigm to deal with now, and this takes time. Plus, it's a double whammy, because no one wants the product lines they have right now as folks are a bit broke at the moment.

On NPR today I heard a little tidbit of interesting news. We all hear how folks have cut back on driving their cars, and I thought this was due to the gas hikes in the past few months. On NPR, they said the cutbacks in driving started last November!

Right now, IMHO, one way folks are coping with high gas prices is by driving their existing car a bit longer. this is what I am doing! You can buy a lot of gas if you don't have a new car payment and your insurance is cheaper as well.

For instance, over on Fat Wallet- check this out:
http://www.fatwallet.com/forums/hot-deals/845337/

Just bought a 2008 Nissan Quest MSRP $26500 incl des. chg for $15,900! This was at Glenn Nissan in Lexington, KY.
The deal is that Nissan has a $3500 rebate going plus $5000 back to dealers who sell over a certain number of cars. Glenn Nissan passed the savings to the customer and sold several units Fri/ Sat. I picked up one today and wanted to alert others to be on the lookout in their area for the same deal.
It really takes all depreciation out of buying a new vehicle where you lose 20% the moment you drive off the lot.
Now if gas goes down, we be a doin' real gud! lol

 

[Lessss]

What you mean the music video with Sumo wrestlers and rock and roll music didn't make people want to go out and buy SUV's?? Surely you jest.

 

[Anonymous]

.

 

[TylerDurden]

Plus, it's a double whammy, because no one wants the product lines they have right now as folks are a bit broke at the moment.

Triple whammy... the returned SUVs in the lease-fleets are not selling either. US mfrs are killing lease programs:

Chrysler has stopped writing leases while General Motors Corp (GM.N) and Ford have both been forced to make their financing offers more expensive because of the sharp decline in resale values for big SUVs.

In lease deals, automakers essentially rent vehicles to drivers for a period of several years. The amount of the monthly lease payments hinges on a forecast on what the automakers will be able to sell the vehicles for when the lease expires. But the plunge in resale values for SUVs and light trucks has forced all of the major automakers to take losses in the most just-ended second quarter.

http://news.yahoo.com/s/nm/20080813/bs_nm/autos_dc;_ylt=AvZyuVoRbDkAQ728Y8pa9iKs0NUE

 

[docnjoj]

I really have little sympathy for the "Big 3 auto makers". They have been led by idiots who have no foresight and no ability to look to the needs of the people I hope our country survives their downfall, but i fear for our economic security if we cant develop new tech faster and cheaper. Maybe solar panels and wind turbines will replace cars as our large scale manufacturing base, but that may be just wishful thinking.
otherDoc

 

[TylerDurden]

They just greedy bastiges, only seeing short term gain.

Like the parable of the dog carrying a bone, seeing it's reflection in the river... (loses his own bone, whilst trying to get the one in the reflection).

Fortunately, slogans like "what's good for GM, is good for the country" are being viewed with a dose of skepticism.

 

[docnjoj]

True, TD, but it sure would be good for the country as well as for us if GM could make a credible attempt at a high quality, affordable electric car. I wish I had more confidence in them, but I fear the worst! High priced junk that breaks every 100 miles! Their legacy!
otherDoc

 

[Mark_A_W]

I don't get why most are only willing to pay ~$31k. $30k on a car is nothing - it will maybe get you a base model medium sized car, at least around here.

My SECOND HAND ordinary Subaru cost more than that, 3 years old.

Bunch of tight-arses, living in la-la-land.

 

[swbluto]

That was the average meaning that, likely, at least half of those polled would be willing at least that much. Unfortunately, they don't post the standard deviation, so we don't know how many people would be willing to fork over 40,000. Considering that the "psychological price barriers" in this range is 35,000 and 40,000, I think a substantial fraction would be willing to pay about 35,000(possibly 30-40%) and a smaller fraction would be willing to pay 40,000(Possibly ~10% of those polled, or about 3000).

That still shows some viable economic interest.

 

[Mark_A_W]

I'm just having apoplexy over how cheap cars are in the US.

$30,000 is an entry level family car here. NOT a new technology vehicle like a Volt, which I would expect to be at least $50,000, probably more.

In current US dollars my ordinary 2.5 litre Subaru wagon cost $38,000 new.


The US cheap cars and cheap fuel screws up everything. Look how much better Europe is because they have expensive cars and expensive fuel - closer to the true price of these things, when you factor in Environmental Damage.

The US is living in lala land, and it sure will be a cold shower when it's time to wake up...

 

[voicecoils]

I'm just having apoplexy over how cheap cars are in the US.

The US is living in lala land, and it sure will be a cold shower when it's time to wake up...

I always thought Aus was in "lala land" when I realised the price difference in even base model luxury cars.

BMW 328i (lowest model avail in both US and AU):
$39,300 USD (in the US)
$92,441 USD (in Australia)

Porsche Caymen:
$49,400 USD (in the USA)
$104,770 USD (in Australia)

Small economy cars are much closer in price, though the US rarely gets the smallest engine or diesel variants.

Toyota Yaris (1.5l 3dr hatch, smallest engine in both US and AU:
Starting from $11,550 USD (in the USA)
Starting from $14,640 USD (in Australia)

*currency conversions taken today and rounded up

 

[Mark_A_W]

I think this is a good thing voicecoils - cars should be more expensive, not cheaper.

The levies/taxes should be proportional to fuel economy/high emissions.


Would you rather ride a bike in Europe or the US?

 

[paultrafalgar]

To me the volt looks heavy. I bet a lighter car could go a lot further on 20,000 bucks worth of lithium.

Couldn't agree more, Dogman - too heavy! They should try something like this:
http://jalopnik.com/tag/bmw-gina-light-visionary-model-concept/
to electrify.

 

[dogman dan]

That looks cool, like the race cars, it's the cage that protects you, not thick body metal. One of the things making our cars heavy is our standards for quiet inside. The festiva we had for while was not a quiet car, but I wish we had kept it now to convert.

 

[docnjoj]

Festiva was a great car, made by SEAT in Spain but borrowed from FIAT. One of the best small car designs in this country. It would undoubtably make a really good electric. By the way, theYugo was also copied from FIAT. Not so great!
otherDoc

 

[steveCA]

Yea, that fabric frame covering is a great idea. I've thought about using a sand rail frame, essentially a "glider", and then using fabric to mold over the frame bars. I think it might look cool, nice and angular. My reason for doing it would be because I'm not worth spit when it comes to playing with fiberglass, molds, etc.... Folks use those "bra" things on the front of their cars, this would just be a full body "bra"....

humm on second thought, I'll try to come up with some other descriptive term!

SteveCA

 

[D-Man]

I paid $425 for my car. Almost 20 years now I've owned it. The one before that was $300. Never believed in paying more then $500 for a car. Even when I made good money, I still refused to go the dealer and buy a new car thus entering into the "system." The system of $600 check up fees and the magic "warning light" that comes on telling you to take your car into the dealer and get raped on repairs. Hybrid cars are just "double trouble." Double the amount of things that can go wrong. Electric would be better but as much as the batteries cost on our little e-bikes, I'm sure buying one for a car would cause one to take out a 10 year loan to pay for it. I'm sure the 33k people who want one just want one for "status" and have money to burn anyway. :lol: