GM offers big discounts to boost Volt sales

GM offers big discounts to boost Volt sales

Credit: Getty Images

CHICAGO, IL - FEBRUARY 07: A Chevrolet Volt sits on the display floor at the Chicago Auto Show on February 7, 2012 in Chicago, Illinois. The show, which is the largest and oldest auto show in the country, opens to the public on February 10. (Photo by Scott Olson/Getty Images)

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Associated Press

Posted on September 22, 2012 at 12:01 PM

Updated Saturday, Sep 22 at 12:03 PM

DETROIT (AP) — General Motors is offering big discounts to boost sales of the Chevrolet Volt, an electric car that struggled to attract buyers until its price began dropping early this year.

Discounts run as high as $10,000 per Volt, according to figures from TrueCar.com, an auto pricing website. They include low-interest financing and subsidized leases.

Sales of the $40,000 car have quadrupled this year, and set a monthly record in August. They show that Americans, who have been slow to embrace electric cars, are willing to buy them if prices are low enough.

But electrics have a long way to go before they enter the mainstream and generate profits. Electrics and gas-electric hybrids account for 3.5 percent of U.S. auto sales this year. GM is losing thousands of dollars on every Volt.

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