General Motors has announced that they are cutting the price of the 2014 Volt vehicle by $5,000. This means that the price of the 2014 Chevy Volt is around $35,000. GM is hoping that the price drop drives increase in unit sales of the Volt. So far, around 43,000 Volts have been reportedly sold.
This price drop may also help the Volt compete more effectively against the Nissan Leaf and the Toyota Prius. Tesla Motors CEO Elon Musk his company eventually plans on creating an affordable $30,000 sedan electric vehicle, but that largely depends on the vehicle battery market. The Nissan Leaf and Tesla Model S are all-electric vehicles.
The GM Volt gets a range of about 40 miles on the battery until the gas-powered engine takes over.