 In May 2011 Kelley Blue Book (KBB) projected the 2011 Chevrolet Volt resale value at just over US $ 17,000 after 36 months, the length of a typical lease, which represents 42 % of the car's US $ 41,000 suggested retail price (MSRP). KBB explains that even though the residual value seems low, the projection considers that the first 200,000 Volts sold will qualify for a US $ 7,500 federal tax credit, which effectively reduces the MSRP to US $ 33,500, making the US $ 17,000represent 51 % of its original value after the tax credit. In comparison, KBB notes, the 2011 Toyota Prius has a projected residual of 46 % after 36 months. KBB's estimate assumed gasoline price will be around US $ 4 per gallon in 2014. For 2012, Kelley Blue Book expected the Volt to retain 42 % of its original value after 3 years and 27 % after 5 years. Based on these figures, in November 2011 KBB awarded the Volt with the 2012 Best Resale Value Awards in the plug-in electric car category. KBB explains that the residual value for the Volt is lower than the market 35.5 % average due to the US $ 7,500 federal tax credit, which lowers the transaction price and pushes down the residual value.
