This August, Chevrolet announced a new deal on its 2014 Volt: the automaker will cut prices on its plug-in vehicle by $5,000. This price cut will effectively bring the starting price for the Volt down to $34,955, including a destination fee of $810. Federal tax credits up to $7,500 could help lower the vehicle’s price even furtherto under $28,000making the Chevy Volt far more economically feasible for a greater number of consumers.
“We have made great strides in reducing costs as we gain experience with electric vehicles and their components,” said Don Johnson, vice president of Chevrolet sales and service. “In fact, the Volt has seen an increase in battery range and the addition of creature comforts, such as a leather-wrapped steering wheel and MyLink, since its launch in 2010.”
To compare prices for the new Chevy Volt, we took a look at the 2013 Chevy Malibu, a conventionally-fueled midsize sedan (the Chevy Volt is a plug-in midsize hatchback sedan). The 2013 Chevy Malibu has a manufacturer’s suggested retail price (MSRP) of $21,995. That means that with Chevrolet’s new deal, coupled with federal tax credits, the 2014 Chevy Volt will only cost about $5,000 more than its conventionally-fueled counterpart. With Volt drivers reporting significant fuel savings for their plug-ins, the 2014 Volt may be a fairly good deal.
The prices for all types of electric vehicles, including plug-ins like the Chevy Volt, will likely continue to decrease as major automakers tackle the challenges of producing cars that can run on pure battery power. In our most recent eNews issue, we reported that the costs for producing lithium-ion batteries are steadily decreasing, which means that the prices for most electric vehicles will also continue to drop.
In fact, we’ve already seen evidence of this trend: in 2012, Nissan lowered the price of its all-electric LEAF to $28,800, cutting down costs by $7,000. BMW’s newly-developed i3 will also cost much less than predicted, at $41,350. As automobile manufacturers continue to find creative ways to cut prices on their electric vehicles, more and more consumers will be able to afford low-emission vehicles like the Chevy Volt, truly driving change forward.
Chevrolet has announced that it will cut the price of its 2014 Volt by $5,000. The 2014 plug-in vehicle will arrive at dealerships this month, with a sticker price starting at $34,995. Credit: General Motors.