GM has cut the price of the 2014 Chevrolet Volt to $34,995, including an $810 destination fee, representing a $5,000 price decrease for the carry over vehicle. If a buyer includes federal tax credits ranging from $0-$7,500, depending on tax liability, pricing could start at $27,495. GM has yet to price the Cadillac ELR coupe that is based on Volt hybrid technology where the car can run 38 miles on electricity alone under ideal conditions, up to 380 miles when the gasoline engine is used.
The latest price cut follows Nissan dropping the Leaf electric vehicle price by $6,400 earlier this year and offering $199 monthly lease. Honda then reduced the Fit EV lease price to $259 a month last June, a steep reduction that trimmed the payment from $389 a month. Moreover, the revised Fit EV three-year lease requires no down payment, has unlimited mileage, provides routine maintenance and collision coverage, as well providing a 240-volt home charging station, although the customer must pay for its installation but owns it forever.
“We have made great strides in reducing costs as we gain experience with electric vehicles and
GM says that Volt owners who charge regularly typically drive 900 miles between fill-ups and visit the gas station about once a month. The 2014 Volt is rated at 98 MPGe (electric) and 35 city/40 highway when running on gasoline power without any need to change their daily driving habits while saving $900 in annual fuel costs.
The Volt continues to be the best-selling plug-in vehicle in America – 12,000 year-to-date roughly equal to Leaf EV sales – and is attracting new buyers to the Chevrolet brand. More than 70 % of Volt buyers are new to General Motors. The Toyota Prius is the most frequently traded-in vehicle for a Volt.
California continues to be Volt’s largest market because of a low emissions package that earns the Volt a coveted “sticker” for single-occupancy HOV lane access in California and New York.
The 2014 Volt will start to be available in dealer showrooms late this summer. Chevrolet will introduce two new colors – Ashen Gray Metallic and Brownstowne Metallic for the 2014 model year – and a leather-wrapped steering wheel.
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