General Motors Co. said Sunday its 2016 Chevrolet Volt — which has 31 percent more all-electric range than the first generation car, a sportier appearance and adds a fifth seat — will be priced about $1,175 cheaper than the current car.
The 2016 plug-in electric hybrid Volt will be available for $33,995 including destination fee, early in the second half of the year. Lease pricing will be available closer to its sale date, Chevy said.
Some analysts said the Volt's price may need to drop substantially to move more vehicles as sales have been sluggish. Dave Sullivan, manager of product analysis for AutoPacific Inc., told The Detroit News previously that the Volt's price would need to drop below $30,000 to increase sales volume.
GM said after an up to $7,500 federal tax credit, the 2016 Volt's price is as low as $26,495. Buyers in California, which represent about 40 percent of Volt purchasers, can get the new Volt for as low as $24,995, after state and federal incentives.