GM Says New Electric Car Gets 230 Miles Per Gallon/GM puts vehicles on eBay - Test lets customers bid or 'buy it now' below sticker price

GM Says New Electric Car Gets 230 Miles Per Gallon
By Peter Whoriskey
Copyright by The Washington Post
Tuesday, August 11, 2009; 9:35 AM
http://www.washingtonpost.com/wp-dyn/content/article/2009/08/11/AR2009081101090.html?hpid=topnews


General Motors announced today that its forthcoming electric vehicle, the Chevrolet Volt, will achieve city fuel economy of 230 miles per gallon, under testing that used draft federal fuel economy methodology standards for plug-in cars.

The Volt will become the first mass-produced vehicle to obtain a triple-digit MPG rating, the company said.

"The Volt is becoming very real, very fast," chief executive Fritz Henderson said. "The price of oil is going to go up."

The announcement of the mileage breakthrough comes after the government-rescued automaker received some strong criticism for failing to have more fuel-efficient cars.

Whether the Volt will be affordable enough to serve the American public as more than just a curiosity is unclear, however.

Initial prices for the car may be as much as $40,000, analysts said.

But company officials said the car's price is expected to come down over time. They note, moreover, that gas prices will rise again, making fuel-efficient cars more valuable.

The Volt, which is scheduled to start production late next year, is expected to travel up to 40 miles on electricity from a single battery charge. The company says the car can extend its range to more than 300 miles with its flex fuel-powered engine-generator.

Assuming the average cost of electricity is approximately 11 cents per kilowatt-hour in the United States, a typical Volt driver would pay about $2.75 for electricity to travel 100 miles, or less than 3 cents per mile.

"A vehicle like the Volt that achieves a composite triple-digit fuel economy is a game-changer," Henderson said.






G.M. to Cut the Ribbon for Its Store on eBay
By NICK BUNKLEY
Copyright by The New York Times
Published: August 10, 2009
http://www.nytimes.com/2009/08/11/business/11auto.html?th&emc=th


GM puts vehicles on eBay - Test lets customers bid or 'buy it now' below sticker price
By W.J. Hennigan
Copyright © 2009, Chicago Tribune
August 11, 2009
http://www.chicagotribune.com/business/chi-tc-biz-swap-0810-0811aug11,0,4505839.story


General Motors Co. is unloading some new cars online Tuesday in an experiment to see whether computers eventually can replace car lots.

The Detroit automaker is partnering with online auction site eBay Inc. to sell Chevrolets, Buicks, Pontiacs and GMCs. The test, which runs through Sept. 8, is the latest attempt by GM to connect with consumers after its exit from bankruptcy protection.

"We're reinventing our company," said Susan Garontakos, a GM spokeswoman. "We're also reinventing the ways to reach out to potential buyers."

The program will be limited to California, she said, but may be extended nationwide. About 225 of California's 250 GM dealers have signed on to the program.

Starting Tuesday, car buyers can visit gm.ebay.com or chevy.ebay.com and peruse new models. They can either negotiate a price with a dealer or purchase at a fixed "buy it now" price set below the sticker.

Any cars bought on eBay will come from and must be picked up at a dealership.

The program is part of GM's turnaround plan, making more official a practice that some of its dealers had participated in on their own. It expands an existing partnership covering GM-certified used vehicles sold through eBay.

Mark LaNeve, GM's vice president of U.S. sales, believes that getting the automaker directly involved in new online sales will give customers a better sense of security about buying a car on the Web.

GMAC returns: Separately, GMAC Financial Services on Monday announced it will begin offering new leasing programs for select General Motors vehicles in 45 states. Initially, leases will be offered on 2009 models of Cadillac CTS, Chevrolet Malibu and Chevrolet Traverse, and 2010 models of Buick Enclave, Buick LaCrosse, Chevrolet Equinox and GMC Acadia.

The Associated Press and McClatchy/Tribune news contributed to this report. whennigan@tribune.com