Now electric vehicles (EV) of any variety, from the Toyota Motor Corp. (NYSE: TM) hybrid Prius to the all-electric Model S sedan from Tesla Motors Inc. (NASDAQ: TSLA), account for about 3.4% of total 2014 year-to-date sales of 5.1 million vehicles. The EVs have sold a total of 172,363 through April. Among the plug-in hybrids, the best-seller is GM’s Chevy Volt with year-to-date sales of 5,154.
The MSRP on a Cadillac ELR is $75,995, which may be another reason for the anemic sales. GM is trying to help sales along by offering dealers (not buyers) a $5,000 incentive to offer customers a test drive in the ELR. Dealers have until June 2 to designate the ELRs currently in their inventory that will be used as test-drive vehicles, and then each of those vehicles will have to log 750 test drive miles to get the incentive payment.
At the current sales rate of about 60 cars a month, Cadillac dealers have 725-day supply of ELRs in inventory. The vehicle does not appear to be a significant threat to the Tesla Model S or even the Porsche Panamera S E-Hybrid, which has sold 341 vehicles so far in 2014 at a list price of $113,000.
ALSO READ: BMW Electric Car Line-Up Challenges Tesla
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.