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Cash incentive wars for EVs now could pay off big time for shoppers down the road

If you’re considering an electric vehicle, it appears that you couldn’t pick a better time than now to buy one.

According to an Automotive News report, General Motors is beefing up the incentives on the Chevrolet Volt to help jolt sales of the electric-hybrid in order to compete with the deals being offered on the Nissan Leaf and Fiat 500eelectric vehicle.

From June 3 through July 1, GM is reportedly offering cash rebates of $4,000 on the 2013 Volt and $5,000 on the 2012 model. That’s in addition to a $7,500 federal tax credit and $1,500 state tax credit for buyers in California.

Leasing a Volt will cost you $2,399 down and $269 per month for 36 months.

Automotive News reports that U.S. sales of the Volt dropped 4 percent to 1,607 units in May, leaving Chevy with a few more 2013 models on hand than anticipated.

The industry news source reports that the average transaction price for the Volt was $40,236 in May, according to Edmunds.com.

In comparison, the average transaction price for the Nissan Leaf was $31,947 in May.

Read more: http://www.digitaltrends.com/cars/cash-incentive-wars-for-electric-vehicles-could-pay-off-bigger-for-consumers-later/#ixzz2W7nBgNXu
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