Chevrolet has announced plans to ramp up production on its electric-hybrid Volt after a factory overhaul.

In order for the factory, located in Detroit-Hamtramck, to prepare for the changes, GM will close the factory at the beginning of June for at least four weeks. However, the lost production time will be made up immediately in increased efficiency. When all is said and done, the plant will actually produce 1,000 more Volts this year than the originally planned total of 15,000.

While the changes will have an effect on production this year, GM is really looking toward the future. Production for Volts has been increased for 2012 from 45,000 to 60,000. In addition, the factory will also be responsible for manufacturing the 2013 Malibu, beginning next year.

The move is largely seen as a reaction to the growing demand for fuel-efficient vehicles. The Volt has been available for some time, but has still only been released in limited markets. The increase in production is a sign that the car is catching on and GM is putting its full support behind the electric vehicle.

Recent news about the Volt from Kelley Blue Book suggests that the $41,000 will retail for about $17,000 if bought used in three years, so drivers may want to wait until they hit the used car market before making a move. 

Buyer beware if you plan on springing for a new Chevrolet Volt: new info from Kelley Blue Book suggests that the car will likely have a pretty low resale value.

According to the used car pricing guide, the $41,000 car will drop down to $17,000 after three years of use, which is the length of an average lease. That means the car retains 41 percent of its value after three years. Compare that to something like the Toyota Prius, which averages about 46 percent of its value, and the car doesn't look so good by comparison.

However, if you factor in the $7,500 federal tax credit, things work out a little better for buyers. Then the purchase price is $33,500, meaning the Volt beats the Prius with 51 percent of its value retained.

The used car guide's prediction makes the assumption that gas will remain at $4 per gallon in 2014. Indeed, the car's value seems to be tied directly to fuel prices. If gas prices were to rise even more between now and then, it's likely the Volt would be valued more highly. Conversely, if people end up paying less for gas, they won't have much incentive to buy a Volt.

Of course, smart shoppers can also take advantage of this fact. If you hold out on purchasing the Volt now, you can score on its low price once they start to hit the used car market.