Low-cost leases push plug-in sales of GM, Nissan to record highs

Article by Anita Panait, on September 9, 2013

General Motors and Nissan Motor Co. both logged record plug-in vehicle sales in August 2013, owing primarily to their low-cost leases. The carmakers’ sales in the first eight months of 2013 are effectively higher than in full year 2012. GM posted an 18-percent rise in sales of its Chevrolet Volt plug-in sedan in August 2013 to 3,351 units.

On the other hand, Nissan was able to triple deliveries of its Leaf EV in the month to 2,420 units. According to data compiled by Bloomberg and Autodata Corp., carmakers sold 57,976 plug-in and plug-in hybrids in the first eight months of 2013, compared to 51,938 units in full year 2012.

The sudden surge in sales of EV in the US is boosted by cheap leases and price cuts as GM, Nissan and Honda Motor Co. are now offerings monthly plug-in leases of $199 to $299. Toyota Motor Corp. recently joined in August, offering a lease of $299 a month deal for RAV4 EV, allowing it to pose a sales record last month.

Kevin Tynan, an analyst for Bloomberg Industries, remarked that EV sales have become “a matter of how much money [carmakers are] going to throw at it," noting that there is “no great change” in the product or the market. He noted that offering low-cost leases is “how you get people into the showroom to look at it." The Volt (14,994) outsold the Leaf (14,123) in the first eight months of 2013.

Sales of electric-drive cars and light trucks in the US surged 28 percent in the first eight months of 2013 to at least 399,070, Bloomberg and Autodata data show. Prices of such vehicles range from $30,000 to more than $100,000. The Toyota Prius continues to lord over electric-drive cars and light truck segment, with sales of 248,134 this year. Prius logged a 30-percent rise in sales in August to 27,358 units.

Topics: gm, nissan, leasing

If you liked the article, share on:

Comments

Recommended

It seems that AM-RB 001 hypercar is not the only vehicle project that Aston Martin and Red Bull Racing has gone into. This time, don’t expect something as outlandish as...
by - February 24, 2017
The year 2018 marks the golden anniversary of Subaru of America. Of course, the company will celebrate 50 years of being at the helm of the brand’s crusade in North...
by - February 24, 2017
During car crashes and accidents, there are times that its occupants can’t get out easily. There are times when the only way to get out of that situation is to...
by - February 23, 2017
Could this be a special version of Ferrari’s much acclaimed LaFerrari? No matter how we look at it, the patent images for this sports car from Ferrari indicate its striking...
by - February 23, 2017
How fast can a 2017 Chevrolet Camaro ZL1 actually go? Considering the amount of power lurking underneath its line-laden bonnet, the 2017 Camaro ZL1 is capable of achieving a top...
by - February 23, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries