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Wednesday, November 14, 2007
GM says full-size SUV hybrids to retail for $50K-plus
David Shepardson / Detroit News Washington Bureau
WASHINGTON -- General Motors Corp. announced the prices of its full-size hybrid SUVs today, saying all of the vehicles would retail for more than $50,000.
GM said the Chevrolet Tahoe Hybrid's suggested retail price would be $50,490 (two-wheel drive) and $53,295 (four-wheel drive), while the GMC Yukon Hybrid would be $50,945 (2WD); and $53,755 (4WD).
Those prices include a $900 destination charge and pending IRS approval, could be eligible for a federal tax credit.
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"We promised to apply our most advanced technologies to vehicles that can save the most fuel, and we are delivering on that promise with the Tahoe and Yukon Hybrid SUVs," said GM vice chairman Bob Lutz today.
Automakers are under pressure to improve fuel economy amid soaring oil prices and growing calls in Congress to impose tough new efficiency standards.
Even so, automakers have struggled at times to convince buyers of the benefit of a hybrid version of a vehicle, especially when a cheaper nonhybrid version is sitting in the showroom. Toyota Motor Corp. has been at an advantage with its best-selling Prius, since it doesn't offer a nonhybrid version.
GM began assembling the full-size SUV hybrids last week in Arlington, Texas, and will begin delivering them to dealers in December. They will be available in large numbers after Jan. 1, GM said.
Last month, GM launched production of its first two-mode hybrid transmission at a plant outside Baltimore. The two-mode hybrid uses electric motors inside the car's transmission to directly power the vehicle, as well as a gas engine. The electric motors can also assist the gas engine.
The two-mode system will debut in the 2008 Chevrolet Tahoe Hybrid and 2008 GMC Yukon Hybrid, making them the industry's only full-size hybrid SUVs.
The new GM hybrids boast a 50-percent improvement in fuel efficiency in city driving, with an overall improvement of 31 percent in combined city and highway driving.
GM isn't planning on making an identical nonhybrid version of the GMC Yukon and Chevy Tahoe, so the exact premium of the hybrid engine isn't known.
GM executives said the new hybrid SUVs will help stem the decline in full-size vehicle sales, which have been among the most profitable for U.S. automakers.
GM initially expects hybrid versions of its full-size SUVs to account for 5 percent to 10 percent of its sales for those models, said Mark LaNeve, the company's sales and marketing chief.
Last week, The News reported that GM had mistakenly posted incorrect prices on its Web site in October. Today's announcement was the first on sticker specifics.
GM is launching a hybrid Chevy Malibu this month that features a simpler system than the two-mode.
Next year, the Baltimore Transmission Plant will begin building two-mode hybrid transmissions for another five hybrid vehicles, including the Cadillac Escalade, and the Chevrolet Silverado and GMC Sierra crew cab full-size pickups.
The automaker also is working on the Chevy Volt, a concept plug-in vehicle that GM said it hopes to put in production in 2010 in Detroit. Lutz told reporters in Los Angeles it would have a driveable version early next year for testing.
Bloomberg News quoted Lutz as saying GM will use Chevrolet Malibu cars and install Volt underbodies.
You can reach David Shepardson at (202) 662 - 8735 or [email protected].
http://detnews.com/apps/pbcs.dll/article?AID=/20071114/UPDATE/711140488/1148/AUTO01
GM says full-size SUV hybrids to retail for $50K-plus
David Shepardson / Detroit News Washington Bureau
WASHINGTON -- General Motors Corp. announced the prices of its full-size hybrid SUVs today, saying all of the vehicles would retail for more than $50,000.
GM said the Chevrolet Tahoe Hybrid's suggested retail price would be $50,490 (two-wheel drive) and $53,295 (four-wheel drive), while the GMC Yukon Hybrid would be $50,945 (2WD); and $53,755 (4WD).
Those prices include a $900 destination charge and pending IRS approval, could be eligible for a federal tax credit.
Advertisement
"We promised to apply our most advanced technologies to vehicles that can save the most fuel, and we are delivering on that promise with the Tahoe and Yukon Hybrid SUVs," said GM vice chairman Bob Lutz today.
Automakers are under pressure to improve fuel economy amid soaring oil prices and growing calls in Congress to impose tough new efficiency standards.
Even so, automakers have struggled at times to convince buyers of the benefit of a hybrid version of a vehicle, especially when a cheaper nonhybrid version is sitting in the showroom. Toyota Motor Corp. has been at an advantage with its best-selling Prius, since it doesn't offer a nonhybrid version.
GM began assembling the full-size SUV hybrids last week in Arlington, Texas, and will begin delivering them to dealers in December. They will be available in large numbers after Jan. 1, GM said.
Last month, GM launched production of its first two-mode hybrid transmission at a plant outside Baltimore. The two-mode hybrid uses electric motors inside the car's transmission to directly power the vehicle, as well as a gas engine. The electric motors can also assist the gas engine.
The two-mode system will debut in the 2008 Chevrolet Tahoe Hybrid and 2008 GMC Yukon Hybrid, making them the industry's only full-size hybrid SUVs.
The new GM hybrids boast a 50-percent improvement in fuel efficiency in city driving, with an overall improvement of 31 percent in combined city and highway driving.
GM isn't planning on making an identical nonhybrid version of the GMC Yukon and Chevy Tahoe, so the exact premium of the hybrid engine isn't known.
GM executives said the new hybrid SUVs will help stem the decline in full-size vehicle sales, which have been among the most profitable for U.S. automakers.
GM initially expects hybrid versions of its full-size SUVs to account for 5 percent to 10 percent of its sales for those models, said Mark LaNeve, the company's sales and marketing chief.
Last week, The News reported that GM had mistakenly posted incorrect prices on its Web site in October. Today's announcement was the first on sticker specifics.
GM is launching a hybrid Chevy Malibu this month that features a simpler system than the two-mode.
Next year, the Baltimore Transmission Plant will begin building two-mode hybrid transmissions for another five hybrid vehicles, including the Cadillac Escalade, and the Chevrolet Silverado and GMC Sierra crew cab full-size pickups.
The automaker also is working on the Chevy Volt, a concept plug-in vehicle that GM said it hopes to put in production in 2010 in Detroit. Lutz told reporters in Los Angeles it would have a driveable version early next year for testing.
Bloomberg News quoted Lutz as saying GM will use Chevrolet Malibu cars and install Volt underbodies.
You can reach David Shepardson at (202) 662 - 8735 or [email protected].
http://detnews.com/apps/pbcs.dll/article?AID=/20071114/UPDATE/711140488/1148/AUTO01
