JayS
September 2, 2008, 12:30pm
22
The lowest I ever saw them shooting for was 30k.
Chevy's Bob Lutz crushed some dreams this morning when he announced that the Volt hybrid electric vehicle will run closer to $40,000 as opposed to the $30,000 he originally implied. To make us feel a little better about that extra $10k, he offered...
We discussed all this here:http://www.nyspeed.com/forums/showthread.php?t=52767
I even ran the numbers for the mathematically challenged who thought at 40k with the 7k tax credit it might still be a good deal.
So you’re getting a 4 passenger car with a small trunk for 33k.
It can run on pure electric for about 40 miles @ a cost of about .02/mile, compared to 4.20 regular unleaded @ .14/mile @ 4.20/gal in a 30mpg small car with similar interior space.
http://engineeringtv.com/blogs/etv/archive/2007/05/24/episode-41-the-chevy-volt.aspx
Ok, so lets say you do the average 12k/year, and lets say 10k of that is 40 mile or less trips where you can run on pure battery power.
Gas car cost per year: $1680
Electric car cost per year: $410 Disclaimer: This figure assumes the Volt would get 40mpg when running on it’s gas engine for those 2000 miles that weren’t 40 mile all electric trips. This is a wild ass guess on my part but seems reasonable)
So you’re saving $1270/year. Carsdirect says I can get a very nicely equipped 2008 Civic EX for 18400, a whopping $14600 difference.
So in 11.5 years you break even. When was the last time any of you kept a daily driver car more than 11.5 years?
And don’t forget the extra $1900 in NY sales tax you’re going to pay on the 40k Volt vs the 18.4k Civic. The Volt might be 33k after the government incentives, but when you walk out of the dealership you’ll be paying sales tax on the 40k sticker.
Sigh. So much for the electric car.
Those numbers would look even worse if I factored in a lithium battery replacement in the operating costs over 11.5 years, or the fact that your 40 mile range is bound to decrease as the battery ages.