The Chevrolet Volt plug-in electric hybrid car, the centerpiece of a revitalized General Motors Co, was named 2011 Green Car of the Year. Volt received the industry's top environmental honor from Green Car Journal. The same day GM received the award, it launched the biggest US IPO ever.The panel that selected the 2011 Green Car of the Year included Sierra Club Chairman Carl Pope and Natural Resources Defense Council President Frances Beinecke.
To earn the award, the Volt beat out four finalists. The all electric Nissan Leaf, two hybrids, the Hyundai, Sonata, and Ford's Lincoln MKZ, along with Ford's new gasoline engine Fiesta. The Fiesta is the only car in the running that is powered exclusively by a gasoline engine, it has a 40 miles per gallon highway driving rating.
Both Motor Trend and Automobile magazines also named the Chevrolet Volt the 2011 car of the year.
Although GM has already decided to increase production from the 10,000 units originally planned for the first year, the vehicle's limited production and a waiting list of green car enthusiasts almost guarantees the Volt will be sold out.
According to the EPA, the Volt gets 93 miles per gallon equivalent when driving under electric power only. In the EPA's tests, the Volt traveled 35 miles on electric power only. Once the Volt's gasoline engine kicked in, its rating fell to 37 mpg. The EPA's combined mpg equivalent is 60. The Volt has been priced at $41,000 before federal and state tax incentives. The estimated annual charging cost for the car is $601.
Despite the hefty price tag for the Volt, GM is making a valiant attempt to produce vehicles that are relevant. The 102-year-old automaker has come a long way from its near death experience in 2008, a government bailout in 2009, and bankruptcy in 2010.
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