Volt named KBB Electric/Hybrid Car Best Buy for 2015

The first-generation Chevy Volt may be on its way out, but adding to a long list of awards since the beginning of the four-year-old car, it just nabbed Kelly Blue Books’s 2015 Electric/Hybrid Car Best Buy Award.

In doing so it edged out the Nissan Leaf which was also launched 2011, as well as the also-aging Toyota Prius regular hybrid, and the relatively new BMW i3.

 

That the Chevy Volt stands atop our list of Electric/Hybrid Best Buy contenders after four years in the marketplace is a testament to its virtues. The Volt might not be the newest entry in a group that includes the Nissan Leaf, BMW i3 and Toyota Prius, but a clever powertrain and exceptional value helped Chevrolet’s gasoline/electric wondercar secure the win.

 
Helping it along is the full $7,500 federal tax credit, and fact that the Volt’s 38 miles EPA-rated range spans the gap between a pure battery electric car and hybrid better than any plug-in hybrid on the market.

The i3 may be trendy, but it’s about $11,000 pricier, says KBB, and if you want the range-extended car with small, short-range gas engine, add $4,000.

The Volt also comes in $1,600 less than the plug-in Prius when factoring a ZEV credit in California, its largest market, says KBB. The plug-in Prius is only rated for 11 miles range, and its top electric speed is less, and a firm accelerator push will kick the gas on. Not so with the Chevy which despite the haters still saying so, it is an extended-range electric vehicle.

Adding onto all the rest is KBB appreciates the driving dynamics of the Volt.

Mash the rightmost pedal, and the wonders of electric propulsion become clear. The Volt accelerates with silky effortlessness. Carry some of that speed through an unclogged onramp, and you might be surprised by the Volt’s willingness to play. No, this electrified Chevy isn’t a sports car, but there’s more fun here than the green veneer might suggest.

And as icing on the cake, the looks and style also got points.

Ok, we’ll admit it. Style counts. Especially among electric and hybrid cars, a compelling design tends to correlate with acceptance from the buying public. On that count the Volt strikes a smart balance between futurism and familiarity. Techy-looking energy usage readouts and sci-fi startup/shutdown sound effects co-exist with comfortable seats, a usable capacitive touch instrument panel, and a surprisingly accommodating cargo area. Provided you don’t need more than four seats, the Chevy Volt delivers a good mix of style and substance.

 
All told, not bad for the grandfather of thi type of vehicle that’s still teaching the whippersnappers a lesson.

And they’re going to retire it soon, and we’ll be seeing a new version believed to be better.

KBB

Kelley Blue Book names Volt as electric with highest resale value

The 2012 Chevrolet Volt was recently named by Kelley Blue Book as the “Best Electric Car” in its 2012 Best Resale Value Awards.

The Volt’s resale value according to the car value estimation source is 42 percent at 36 months, and 27 percent at 60 months.

The reviewers’ projection could be seen as a mixed blessing, as compact internal combustion powered vehicles scored better percentage-wise, but Kelley’s editors nonetheless offered high praise for the top electric car.

“The Chevrolet Volt can arguably be considered the ultimate green machine,” led off Kelley Blue Book. “From its seats made from recyclable materials to its innovative electric drivetrain, the Volt bleeds eco-friendly from head to toe.”

And to be sure, the Volt did beat out its often-compared battery electric rival, the Nissan Leaf, which placed second with a 39 percent estimated resale value at 36 months, and 25.5 percent at 60 months.

The Volt is a compact-class car. It also represents brand-new technology, and the market is yet adapting to it, deciding how it will place its bets and ultimately value electric vehicles.

As such, it may not be surprising at this juncture that the long-established Honda Civic was named “Best Compact Car,” and its estimated value at 36 months was 56.5 percent, and at 60 months it is projected to be 41.0 percent.

But how much stock should even be placed in the Hondas’s estimation? Although Kelley called the 2012 Civic number one, this same car was recently near the top of another list put together by Forbes magazine.

The inauspicious distinction of being one of Forbes “Worst car flops of 2011” also belongs to the 9th-generation Civic.

“The 2012 redesign plummeted in Consumer Reports scores from one of the best small cars to one of the worst,” said Forbes of Kelley’s top pick. “Its nimble handling was replaced with a ‘soggy’ suspension, and braking distances are too long. The interior quality also declined, with lots of hard plastics throughout the cabin.”

So go figure.

Could it be that the old paradigm is yet positively valuing the latest expression of a former pinnacle, but Chevy’s new EREV is positioned to rocket to new heights from here?

Time will tell, but there surely is room for error in anyone’s projection, and this is true also for what could be undervalued electrified vehicles. In the budding industry, the Volt had limited competition, and the market will see some adjustments as more electrified vehicles come online, and actual years of hindsight, supply, demand, and other factors enable a clearer picture.

Kelley’s conservative estimate also falls in line with a story we ran in May documenting conservative lease residual values placed on the Volt and other electrified cars.

As is true for insurance underwriters, any type of institutional investor placing odds on something will want the deck stacked in its favor as much as possible.

While possibly disappointing to those who see what electrified vehicles represent, conservative estimations of what they will really be worth are virtually to be expected as no one wants to lose.

Also, just as consumer knowledge and awareness for electrified vehicles is expected to catch up to what is patently obvious to GM-Volt readers, their resale value should increase as well.

This said, the Volt’s Kelley value estimation is still a positive portent. The Volt has won numerous other unqualified accolades, and it can now say it offers the highest estimated resale value.

So for now, although every EV is seeing its wings clipped, the Volt is still number one.

Source: GM-Volt.com

KBB sets Chevy Volt resale value at $17,000 after 36 months

2011 Chevy Volt – Click above for high-res image gallery

How much is that old Volt in the window? According to Kelley Blue Book, the 2011 Chevrolet Volt will have a resale value a tick over $17,000 after 36 months, the length of an average lease. That's just 42 percent of the plug-in hybrid's $41,000 MSRP. For what it's worth, KBB's projection assumes that the going rate for a gallon of gas will hold steady at $4 a gallon 36 months from now.

Eric Ibara, director of residual value consulting at Kelley, told Automotive News (sub. req.) that the Volt's projected residual value may seem to be on the low side, but the first 200,000 Volts sold qualify for a $7,500 federal tax credit, effectively slashing its sticker price down to $33,500 (well, maybe not).

Using that $33,500 number, KBB's projection means the Volt will hold onto 51 percent of its value. That compares to 46 percent for the 2011 Toyota Prius and 37.5 percent for the 2011 Ford Focus. As we see it, factoring in the $7,500 tax credit is wack, but we'll let you guys and gals debate that.

KBB expects to set residuals for the $25,280 $32,780 Nissan Leaf, which also qualifies for the $7,500 federal tax credit, later this year


Source: Autoblog Green