Will Chevy’s Volt Succeed?

The other day, Chevy released specs for their upcoming model Volt, an electric/gas hybrid which they’re hoping will save their sinking ship. They’ve touted that the Volt with be able to get 230 miles per gallon, an astounding number which if true, would kill any competitor (for now). The big BUT to the story though is the price tag of the car, which starts at $40,000. I guess my question is, will enough rich people buy this car to keep it alive? At least long enough for development to continue and the price to steadily drop over time. The Prius currently costs around $22,000, so it’s nearly double that.

In my head I’m trying to equate the situation to something that Apple would do. Apple makes high-end products, and for much less money you can still get a computer. I think what Apple does, that I’m guessing GM won’t, is make it an experience that’s absolutely worth the higher price tag.

What do you all think? Will the Volt be able to survive?

Bobby

August 11, 2009