The 2014 Chevrolet Volt also is eligible for up to $7,500 federal tax credit, depending on individual tax liability.
The pricing announcement comes about two months after GM started offering incentives of $5,000 on 2012 Volts and $4,000 on 2013 models in an effort to spur sales.
Other automakers are also reducing electric-vehicle prices to kick-start sales. In January, Nissan lowered the price of the pure-electric Leaf by $6,400 to $29,650. Last month, Ford cut the price of the Focus Electric by $4,000 to $35,995.
“The lower price and cost savings from driving on electricity provide Volt owners an unmatched balance of technology, capability and cost of ownership,” said Don Johnson, U.S. vice president, Chevrolet sales and service. “The 2014 Volt will offer the same impressive list of features, but for $5,000 less.”
Volt owners who charge regularly typically drive 900 miles between fill-ups and visit the gas station about once a month. The 2014 Volt will continue to provide owners with impressive fuel economy of 98 MPGe and 35 city/40 highway on gasoline power without any need to change their daily driving habits while saving $900 in annual fuel costs. Today’s Volt owners have logged 364 million miles, including 225 million electric miles.
The Volt continues to be one of the best selling plug-in vehicle in America and is attracting new buyers to the Chevrolet brand. More than 70 percent of Volt buyers are new to General Motors. Not surprisingly, the Toyota Prius is the most frequently traded-in vehicle for a Volt.
California continues to be Volt’s largest market. The 2014 Volt will continue to offer a low emissions package that earns the Volt a coveted “sticker” for single-occupancy HOV lane access in California and New York.
The Chevrolet Volt allows gas-free driving for an EPA-estimated 38 miles (61 km), depending on terrain, driving techniques and temperature. The range-extending engine gives the Volt up to 380 total miles (615 km) of total driving range. 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.