General Motors has cut $1,115 from the price of the redesigned Chevrolet Volt. The 2016 Volt, which will be available starting this fall, will have a sticker price of $33,995, which includes destination costs. The 2015 Volt is being sold for $35,110, which includes shipping expenses. But as soon as federal tax credits of as much as $7,500 are considered, a 2016 Volt can be bought for as low as $26,495.
With state incentives in California, the Volt’s price may fall to $24,995. This marks the second time that GM has reduced the Volt’s price. The 2014 Volt’s price was reduced by $5,000. Several modifications were made on the 2016 version of the gasoline-electric plug-in hybrid car. It now comes with a smaller battery pack that produces more power.
On a single charge, it boasts an electric driving range of up to 50 miles. It can also now seat a fifth person with an optional jump seat. The 2016 Volt is equipped with a powertrain that has a new four-cylinder engine and the 2nd generation of the automaker’s Voltec hybrid drive.
From the start of the year through April, GM sold 2,779 Volt units in the U.S., about 46% lower than the same period the previous year. Since the car first started selling in the later part of 2010 as a 2011 model, GM has sold over 76,000 Volts in the U.S. GM said that the 2015 Volt currently still has a 200-day supply.
It was disclosed that output of the current Volt will be terminated this month. Work at GM’s plant in suburban Detroit, where the Volt is built, will remain suspended for 12 weeks (twice the usual period) while the facility is being converted to build the 2016 model. Chevrolet marketing director Steve Majoros said that the next-gen Volt will feature more technology and offer more value as well as have better fuel economy.
He added that the company is “confident” that more customers will see the Volt’s appeal with its lower price and many product improvements. GM predicts that those who drive the 2016 Volt will not use gasoline on about 90% of the trips.
The price of the sluggish-selling Cadillac ELR, a hybrid that has the same underpinnings as the Volt, has also been cut. The 2016 ELR is now priced $10,000 lower to $65,995, which includes shipping costs. The first-generation Volt powertrain will still be used in the ELR.