How Much is a GM EV1 Worth in Today’s Market?
How Much is a GM EV1 Worth in Today’s Market? The GM EV1 was produced as an electric car between 1996 and 1999. It was available through lease only, and most were returned at the end of their leases to be destroyed or stored in a facility in Arizona. Only a few hundred of these cars were produced, and they are considered rare among collectors today. If you’ve always wanted to own your own EV1, read on to learn how much your dream car might cost you in the current market!
GM has announced that they will no longer be producing the GM EV1 by the end of this year. The GM EV-1 was a zero emissions, electric vehicle that was produced between 1996 and 2003. Though over 4,000 units were produced, only about 200 of them remain on the road today. There are many factors that go into determining how much an old GM EV-1 is worth, including how much it has been driven and its condition.
The most important factor when estimating the value of an old GM EV-1 is its battery pack capacity. The higher the capacity rating of the battery pack, the more expensive it will be to replace or repair if necessary.
The EV1 was only made for three years
The GM EV1 had only been on the market for three years when GM sold off all of its prototypes. A total of 1006 vehicles were made, with 806 still remaining at the time of the sale. The first generation EV1s (1997-1999) retailed for $42,000 USD, and were rated at 75-90 miles on a single charge. The second generation cars (1999-2001) retailed for $33,000 USD and had an increased range to 100 miles. These cars cost GM much more money than they expected due to their high battery costs.
What was once a great alternative to gasoline powered automobiles became too expensive for GM; they knew it would not be profitable in today’s market so they stopped production.
The value of an EV1 depends on many factors, but typically they sell between $15,000-$25,000 USD. There are also companies that will buy your old EV1 and take it apart so that the materials can be reused for newer models or recycled materials can be used instead of wasting precious resources that could have gone into new production models.
They were only leased, not sold
The GM EV1 was only leased and never sold to the public. In total, there were 2,450 units produced between 1996 and 1999. The cars had a starting sticker price of $32,000 and could go as fast as 85 miles per hour. The GM EV1s were an engineering marvel with features like no other vehicle before it: air conditioning that would work even if the battery was depleted, sophisticated ABS brakes, ultracapacitors to help maintain battery power while braking or coasting, independent suspension to reduce vibration while driving on bumpy roads, and an aluminum frame that reduced weight by 15%. Not surprisingly then, many people are surprised when they learn that the GM EV1 never went into mass production.
There are only a handful of them left
There are only seven GM EV1 models remaining, with values ranging from $100,000 to $150,000. What makes them so valuable? The GM EV1 was the first mass-produced electric vehicle designed for use on public roads and was the most popular electric car until it was discontinued. The cars were never sold to the general public, but leased out at a price of $500 per month plus taxes and fees. This means there are just over 700 total GM EV1s still running around today that have been preserved by their owners or museums.
The reason these original vehicles command such high prices is because they are considered extremely rare among collectors of historic cars.
They could be worth up to $250,000
The GM EV1 was released to the public as an electric car, with the first models being leased in 1996. The idea behind this was to build the infrastructure and gather data on how many people would be interested in purchasing this type of vehicle. The GM EV1 had an electric motor which could take you from 0-60 mph in 8 seconds, just 4 seconds slower than a typical gas powered car. In 1999, GM decided to end their lease program and stop production of the vehicle citing that interest was too low for it to be worth continuing production.
If you want one of these cars for yourself today, you can expect to pay anywhere from $250,000-$450,000 depending on how well it has been taken care of over its lifetime.
The GM EV2 and the GM EV1 are both four-door, five-passenger electric cars. The GM EV1 was manufactured from 1996 to 1999 and was marketed as an environmentally friendly car. There were just over 1000 units ever produced, making them highly sought after collectible items today. Prices for GM Ev1s range from $20k-25k depending on the condition of the vehicle and if it has been modified or not.