GM Chops Chevy Volt Sticker Price

A federal tax credit drives the price even lower

   

Volt 300x200 GM Chops Chevy Volt Sticker PriceThe Chevrolet Volt just got more affordable.

With other manufacturers trimming electric vehicle prices, General Motors (GM) is cutting $5,000 off the Volt’s base price. The car will now start at $34,995. Including a $7,500 federal tax credit, a 2014 Volt can be had for as little as $27,495, the Associated Press notes.

GeneralMotors185 GM Chops Chevy Volt Sticker Price
GM Reportedly Delaying Launch of Next-Gen Chevy Cruze

From the beginning of this year through July, GM says it sold 11,643 Volts. That marks a 9.3% increase over the same time last year.

However, rival electric cars are doing better. Nissan‘s (NSANY) Leaf, whose base price was also recently trimmed, saw its sales rise threefold to 11,703 during the same period.

The Volt has struggled to gain a foothold with consumers. GM has disputed reports that it loses a significant amount of money on each Volt.

Last month, Ford (F) dropped the price of its 2014 Focus EV by $4,000.

Shares of GM slid more than 1% in Tuesday morning trading.


Article printed from InvestorPlace Media, http://investorplace.com/2013/08/gm-chops-chevy-volt-sticker-price/.

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.