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The real costs of keeping a Chevy Volt on the road

The release of the new, 2016 Chevy Volt is sure to bring a surge of used electric vehicles to the market as early adopters trade their older models in. Many of these cars are selling for a fraction of their original price, thanks in part to federal and state incentives that lowered the initial cost to the first owner, which opens these cars up to a whole new class of consumers. While the prices are getting attractive, potential buyers are still hesitant to buy a used EV due to uncertainty about service and repair costs, but there may be some good news on the horizon. The Chevy Volt comes with a battery warranty that is good for at least 8 years and 100,000 miles, but many of the Volts popping up on the market have passed that 100,000-mile mark. The threat of needing a new battery can be a deterrent, especially with some dealers quoting prices as high as $34,000 for a full "drive motor battery replacement." That sum is more than the MSRP of a 2016 model. Some of the fear of EV maintenance and repair comes from the mystery of the individual pieces that make up the drivetrain and charging system. If we take a look at the Volt in terms of analogs to a traditional internal-combustion vehicle, the outlook becomes a little more friendly. The Volt battery pack consists of three lithium-ion modules in a T-shaped arrangement, each of which can be serviced individually. Module 1 is made up of 90 cells and corresponds to GM part number 22954462, which retails for $3,258.33; module 2 is made up of 72 cells and corresponds to GM part number 22954463, which retails for $2,930.00; lastly, module 3 is made up of 125 cells and corresponds to GM part number 22954464, and retails for $4,933.33. These part numbers have been added to the dealer order systems but have not shown up in the distribution centers at this time. Although all three of the modules add up to a fairly large $11,121.66 total and are still on hold for dealer ordering, the good news is that in most cases these battery cell modules do not need to be replaced. There are many other individual pieces mounted on the battery pack that are serviceable, such as the Battery Energy Control Modules (BECM) and the Battery Interface Control Modules (BICM). These modules control and monitor the battery packs and charging system and have been known to fail while the lithium-ion battery cells are not at fault. Some have been replaced under warranty, but if you are stuck buying one they run about $255 a piece for the part.

U.S. new-vehicle sales in 2018 rise slightly to 17.27 million [UPDATE]

DETROIT — Sales of new vehicles in the U.S. rose slightly in 2018, defying predictions and highlighting a strong economy. Automakers reported an increase of 0.3 percent over a year ago to 17.27 million vehicles. The increase came despite rising interest rates, a volatile stock market, and rising car and truck prices that pushed some buyers out of the new-vehicle market. Industry analysts and automakers said strong economic fundamentals pushed up sales and should keep them near historic highs in 2019. "Economic conditions in the U.S. are favorable and should continue to be supportive of vehicle sales at or around their current run rate," Ford Chief Economist Emily Kolinski Morris said after the company and other automakers announced their sales numbers Thursday. That auto sales remain near the 2016 record of 17.55 million is a testimonial to the strength of the economy, said Mark Zandi, chief economist at Moody's Analytics. The job market, he said, has created new employment, and wage growth has accelerated. "That's fundamental to selling anything," he said. "If there are lots of jobs and people are getting bigger paychecks, they will buy more." The unemployment rate is 3.7 percent, a 49-year low. The economy is thought to have grown close to 3 percent last year, its best performance in more than a decade. Consumers, the main driver of the economy, are spending freely. The Federal Reserve raised its key interest rate four times in 2018 but is only expected to raise it twice this year. Auto sales also were helped by low gasoline prices and rising home values, Zandi said. It all means that people are likely to keep buying new vehicles this year even as they grow more expensive. The Edmunds.com auto-pricing site estimates that the average new vehicle price hit a record $35,957 in December, about 2 percent higher than the previous year. It will be harder for automakers to keep the sales pace above 17 million because they have been enticing buyers for several years now with low-interest financing and other incentives, Zandi said. He predicts more deals in the coming year as job growth slows and credit tightens for higher-risk buyers. Edmunds, which provides content, including automotive tips and reviews, for distribution by The Associated Press, predicts that sales will drop this year to 16.9 million.

General Motors reportedly considering small electric pickup

General Motors is considering adding a small entry-level model to its range of electric pickups, according to a recent report. The carmaker is currently showing a prototype to a select group of customers to gather feedback about the model before executives decide its fate. Industry trade journal Automotive News claims that it saw the pickup during a workshop organized by General Motors and describes it as being "smaller than the Ford Maverick and the Hyundai Santa Cruz." For context, the Maverick stretches about 200 inches long, 73 inches wide, and 69 inches tall, so it's around 12 inches shorter, 11 inches narrower, and 10 inches lower than the recently-unveiled Chevrolet Colorado. It sounds like this little GM truck would be closer in size to the Brazilian-market Chevy Montana, pictured at top. But unlike the Montana, the model that Automotive News got a look at had two doors, a "low roofline," a four- to four-and-a-half-foot cargo box, and a design described as futuristic and sporty. If launched, the yet-unnamed pickup would be marketed as an "affordable" EV with a base price pegged under $30,000. However, that's a big if: the pickup — whose name hasn't been announced — hasn't been approved for production. "We're creating these to get a reaction and then to try to modify it or move on," Michael Pevovar, the director affordable EV and crossover design for Chevrolet, told the publication. "The input may come back that it's just too small, and that's okay," he added. If it turns out to be too small for buyers, General Motors hasn't ruled out building its entry-level electric pickup on a different architecture to make it a little bigger. It's too early to tell where the electric pickup would slot in the General Motors portfolio if executives approve it. Chevrolet immediately comes to mind, especially considering the sub-$30,000 price point. The model would make more sense with a bowtie on its front end than with a Cadillac emblem, GMC's trucks are normally positioned higher than Chevrolet's, and Buick hasn't built a pickup in many decades. Similarly, there's no word on when it would enter production or where it would be built. With that being said, there's very clearly a market for affordable, small pickup trucks. As of the third quarter of last year, Ford had sold more Mavericks than it had the Expedition or the Ranger. Hyundai hasn't sold as many Santa Cruz trucks, but it's still not too shabby, having beaten out the Venue and Accent last year.