GM to Increase Volt Production

The Chevrolet Volt will be available to nationwide and in Europe, Canada and China by the end of 2011. In preparation, General Motors is increasing production of its ground-breaking green car.

GM says that it will begin by shutting down its Detroit-Hamtramck plant, which currently produces the Volt, for four weeks in June to prepare for the production increase. “As a result of the plant upgrades, planned Volt and Ampera production capacity this year will increase to 16,000 units, including exports and a fleet of several hundred demonstration units sent to U.S. dealers,” the automaker states. “In 2012, global production capacity is expected to be 60,000 vehicles with an estimated 45,000 to be delivered in the United States.”

USA Today writes that the production shift will benefit a lot of consumers. “For potential buyers, that will mean short term pain for long term gain. The car, which can travel for up to 25 miles on electric power alone before its backup gas engine kicks in, will be in short supply for the next three months due to a month-long shutdown to retool the plant for the expanded production.”

But recently, Kelly Blue Book reported that the Volt will lose 58-percent of its value in three years, a $24,000 drop from its $41,000 sticker price. That depreciation may influence some consumers looking for a long-term investment. But, this predicted resale value could increase. USA Today says the “Volt's resale price is predicated on continuation of gas prices of about $4 a gallon, KBB says. If gas prices soar, Volt's resale value would conceivably rise since gas savings is the major selling point of the car.”