The Volt has ceased production; Values Increasing

The Chevy Volt -- an icon of early hybrid vehicles, has ceased production. Insiders speculate that the reason the Volt has been discontinued isn't necessarily due to lack of interest in the car. Rather, insiders say it's likely due to the discontinuation of the Impala and Cruze -- which are both produced at the Hamtramack facility along with the Volt. With 4 of the 6 vehicles produced at Hamtramack being discontinued, the logical decision is to cease production of the Volt, too. Reproducing the Volt at a different facility would be an expensive and time consuming project requiring the shut down of the plant while the entire line is retooled. 

With no more brand-new Volts being produced, we wondered what that will do to the market value. As a market leader in providing green-motoring options at an affordable price, the Volt is quickly becoming a hot commodity. Reddit user "Grung7" says, "I'm seeing the exact opposite as far as new Volts are concerned. They've sold out or shot up in value in Southern California. I got mine just in the nick of time. I got my 2019 LT for 30K early in the month. Loaded 2018 premiers were priced at 33k-34K. After the big announcement I checked local inventory for dealerships closest to me. They were either sold out completely (while having anywhere from 2-6 Volts in stock while I was shopping) or the few remaining 2018 premiers went up to 38K-40K. 2019 LTs with no options were going for 34.5K. Supply is low, demand jumped because procrastinators just ran out of time, so prices will stay high."

Here in Ohio, the average work commute is 20 minutes. Specifically, here in the Miami Valley, that commute is actually closer to 18 minutes.  With a Volt, a person could conceivably drive to work for less than $100 a year in electricity costs. The same commute will cost approximately $1530 in fuel costs annually for a gasoline-only vehicle. These facts only contribute to the value of the Volt, considering it is one of the most affordable green driving vehicles.

Eco-friendly Chevy fans know that even with the demise of the Volt, they still have Chevy's Bolt as a great option. So what do you think? Do you think the Volt will continue to rise in value?
Categories: Pre-Owned Inventory