GM Chops Chevy Volt Sticker Price

by Christopher Freeburn | August 6, 2013 10:15 am

Volt 300x200 GM Chops Chevy Volt Sticker Price[1]The Chevrolet Volt just got more affordable[2].

With other manufacturers trimming electric vehicle prices, General Motors (GM[3]) 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.

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[4]) 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[5].

Last month, Ford (F[6]) dropped the price of its 2014 Focus EV[7] by $4,000.

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

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/10/Volt.jpg
  2. just got more affordable: http://hosted.ap.org/dynamic/stories/U/US_GENERAL_MOTORS_VOLT_PRICE?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2013-08-06-07-09-17
  3. GM: http://studio-5.financialcontent.com/investplace/quote?Symbol=GM
  4. NSANY: http://studio-5.financialcontent.com/investplace/quote?Symbol=NSANY
  5. that it loses a significant amount of money on each Volt: http://investorplace.com/2012/09/gm-we-dont-lose-49k-on-each-chevy-volt/comment-page-1/
  6. F: http://studio-5.financialcontent.com/investplace/quote?Symbol=F
  7. dropped the price of its 2014 Focus EV: http://investorplace.com/2013/07/ford-slashes-price-of-2014-focus-ev/

Source URL: http://investorplace.com/2013/08/gm-chops-chevy-volt-sticker-price/
Short URL: http://invstplc.com/1fr0BCd