First Chevy Volt: Sold! for $225,000

volt_auction_car.top.jpgAn on-line charity auction for the first customer-ready Chevrolet Volt is scheduled to end at 6 p.m. Tuesday. by Peter Valdes-Dapena, senior writer


NEW YORK (CNNMoney.com) -- An online auction for the first sellable Chevrolet Volt ended at 6 p.m. on Tuesday with the car going for $225,000.

Proceeds from the auction will go to a foundation that supports science, math, and technology education in Detroit Public Schools.

The sticker price for the car, a Chevrolet Volt with the "Premium Trim Package" of options, including leather seats plus a back-up camera, is about $45,000, GM spokesman Monte Doran said.

The car is painted in Viridian Joule, a silver color with a subtle green tint that adds $995 to the price. The auction also includes the installation of a home charger for the car.

The Volt is eligible for a $7,500 federal tax credit for plug-in cars.

The auction is taking place at the website volt.charitybuzz.com. As of 9:30 a.m. ET, there had been only 12 bidders for the car, but the top bid rose rapidly following an opening bid of $50,000 on Nov. 30. The site requires bidders to pre-register.

Bidders in online auctions frequently wait until minutes before the bidding deadline to bid, said Monte, since there's no advantage to bidding early. It only drives up the price.

"It will be interesting to see what happens between 5:50 and 6:00 tonight," he said.

First unveiled in 2007 as a concept vehicle at the Detroit Auto Show, the Volt entered commercial production last week at a General Motors factory in Detroit. It can drive for about 35 miles, according to EPA estimates, on electricity alone before a gasoline engine comes on to provide power for further driving. To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Find Your Next Car
Index Last Change % Change
Dow 17,001.22 -38.27 -0.22%
Nasdaq 4,538.55 6.45 0.14%
S&P 500 1,988.40 -3.97 -0.20%
Treasuries 2.40 -0.00 -0.17%
Data as of 2:24am ET
Company Price Change % Change
Bank of America Corp... 16.13 -0.03 -0.19%
Apple Inc 101.32 0.74 0.74%
Salesforce.com Inc 59.80 4.09 7.34%
General Electric Co 26.15 -0.28 -1.06%
Cisco Systems Inc 24.65 -0.24 -0.96%
Data as of Aug 22

Sections

The Coolest Cooler launched a Kickstarter campaign in July and has raised over $9 million so far, the second highest grossing campaign ever. More

The Coolest Cooler launched a Kickstarter campaign in July and has raised over $9 million so far, the second highest grossing campaign ever. More

This month, Delaware became the first state to pass a law giving heirs the right to access the online accounts and assets of someone who has passed away. More

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.