Summary Box: Nissan, GM match electric car leases, battery warranties as competition heats up
By APTuesday, July 27, 2010
Summary Box: GM, Nissan compete over electric cars
THE COMPETITION: General Motors Co. and Nissan Motor Co. made several announcements Tuesday in their contest to sell the most affordable electric car.
THE TERMS: GM announced a $41,000 base price for the electric Chevrolet Volt, $8,000 more than the $32,780 Nissan Leaf. GM essentially matched Nissan’s $349 per month lease offer, while Nissan matched GM’s eight-year, 100,000-mile battery warranty.
THE IMPACT: A $350-per-month payment is within reach of most U.S. new car buyers. The average new-car payment is $450. Depending on how far people drive, they can subtract out the cost of gas, making the cars more affordable.
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