Rich People Love the Chevy Volt?

Sales of the Chevy Volt plug-in hybrid have been ramping up with sales increasing 240 percent in September. Last month GM sold 723 Volts, which is up from 302 units in August and since production kicked off in late 2010, about 4,500 units have found homes.

GM is currently producing 150 units a day and has a goal of selling 10,000 Volts by the end of 2011. The Volt also bringing a new type of buyer to the Chevy brand. According to GM buyers with an average income of $175,000 are flocking to the Volt. With a starting price near $40k, could the Volt become a new status symbol?

GM also reports that eighty-percent of Volt sales are also conquest sales, with the Toyota Prius being the most-traded in vehicle. Although GM hopes to sell 10,000 units this year and most Volt buyers are trading in their old Priuses, Toyota has nothing to worry about. It will take a lot more for the Volt to steal the top-selling title from the Prius.

Fox News