General Motors and Rogers Auto Group will offer a competitive lease price on its 2011 Chevrolet Volt. This would put ease in Chicagoan's minds about buying a vehicle that relies on pricey battery technology.

 

The lease price will be unveiled soon, along with the Volt's retail price tag of slightly less than $40,000, minus a $7,500 federal tax credit. 

The Detroit News has learned that GM plans to set a lease price that will be far lower than monthly payments than it's direct competitor, the Nissan's Leaf, whose monthly lease price starts at $349. Look out soon for these lease specials.


GM's Spokesman David Darovitz confirmed that they will offer leases on the Chevrolet Volt, but declined to discuss the pricing or estimate leasing volumes. The Chevrolet Volt will be built in Detroit.

"Customers will be pleasantly surprised with the pricing," Darovitz said.

Battery reuse is part of General Motor's pricing plan

GM decided to offer low lease prices because it can retain and eventually reuse the expensive, lithium-ion battery packs. And the automaker can apply a $7,500 federal tax credit, per vehicle, to the lease payments.

This could trim monthly payments on a three-year lease by around $200.

This would definitely be an attractive offer.

General Motors also announced an eight-year, 100,000-mile warranty on the Volt's new battery -- three years longer than GM's standard powertrain warranty.

The Volt, which will travel up to 40 miles on electric power alone, will have a range of 300 miles on its gasoline engine. The Nissan Leaf's range is only 100 miles

The Chevrolet Volt's engine kicks in after its lithium-ion battery is drained by about 70 percent to sustain the battery's remaining charge. This will keep the car running for several hundred additional miles. Imagine bypassing all the expensive Chicago Gas Stations.

GM plans to produce just 10,000 Volts for the 2011 model year, eventually expanding to as many as 30,000.