GM cuts 2016 Volt plug-in hybrid car price by almost $1,200

AP News
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Posted: May 03, 2015 12:55 PM

DETROIT (AP) — General Motors is knocking nearly $1,200 off the price of the 2016 Chevrolet Volt plug-in hybrid car.

The company says the new Volt will start at $33,995 including shipping when it goes on sale in the fall. The current version costs $35,170.

Prices do not include a $7,500 federal electric car tax credit.

The new Volt can go about 50 miles on battery power before a gasoline generator takes over. The current car goes about 38 miles on its battery.

GM says it can reduce the price because lithium-ion battery and other costs are coming down.

Sales of Volts and other battery-powered vehicles have suffered with gasoline prices nationwide averaging $2.60 per gallon. Through April, Volt sales are down 46 percent to 2,779.