Although it represents one of the first next-gen EVs to reach the marketplace, the 2014 Chevrolet Volt will be among the last to enjoy a four-digit price decrease for the current selling season. Still, in dropping $4,100 from the MSRP of the car, Chevrolet has reduced its price by a significant 10.6 percent—to $34,995—and when the maximum $7,500 federal tax credit is taken into account, the net cost to get into a 2014 Chevy Volt can be as low as $27,495.
Now, as discussed previously on Autobytel here, the EV segment is in the midst of its first price war, with customers currently able to purchase cars like the 2014 Chevy Spark EV and 2013 Smart Electric Drive for less than $20,000 (net). Also, those who prefer to lease can put $0 down to drive a 2013 Honda Fit EV, for example, and pay $259 a month with unlimited miles.
And while the 2014 Chevrolet Volt won’t be priced quite that low, it is a bigger vehicle than those entries, and it continues to offer a unique advantage under the hood. As the EV experts out there surely know, the Volt relies on a powertrain that includes both a 16-kWh lithium-ion battery pack and a gas-powered 1.4-liter 4-cylinder engine. The former provides an EPA-certified all-electric driving range of up to 38 miles, while the later delivers another 350 miles worth of travel at EPA grades of up to 35 mpg city/40 mpg highway/37 mpg combined.
As a result, Chevy reports that “Volt owners who charge regularly typically drive 900 miles between fill-ups and visit the gas station about once a month,” resulting in annual fuel savings of $900 (as compared to the typical gasoline-driven car).
“The lower price and cost savings from driving on electricity provide Volt owners an unmatched balance of technology, capability and cost of ownership,” added Don Johnson, U.S. vice president, Chevrolet sales and service.
The 2014 Chevy Volt is due in dealerships a bit later this summer.