GM offers big discounts to boost Volt sales
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 DOT 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 become 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.