Chevy Volt Gets Huge Price Drop for 2014
The 2014 Chevrolet Volt carries a base MSRP of $34,995 including the $810 destination fee compared to the $39,995 MSRP with destination of the 2013 Volt. When you factor in the available $7,500 federal tax credit, the price effectively drops to $27,495 while state and local tax incentives can drop that price down into the range of $24,995. Federal tax credit availability, eligibility and credit value varies from person to person and local incentives vary based on the state in which the vehicle is purchased. Prospective 2014 Volt buyers should talk to a knowledgeable tax professional to find out what kind of tax credits they are eligible for when figuring out the final price of the car. In other words, not everyone can claim the full $7,500 tax credit or the local $2,500 credit so you should either do more research specific to your tax situation or talk to your accountant when figuring out how much you will get from buying a Volt.
“The lower price and cost savings from driving on electricity provide Volt owners an unmatched balance of technology, capability and cost of ownership,” said Don Johnson, U.S. vice president, Chevrolet sales and service. “The 2014 Volt will offer the same impressive list of features, but for $5,000 less.”
The best bit of news for the 2014 Chevrolet Volt is that this big price drop doesn’t come with less content than the more expensive 2013 (or earlier) Volt EVs. The 2014 Chevy Volt comes with every feature and amenity as the 2013 Volt plus the new model year Chevy EV comes with a new leather wrapped steering wheel.
“We have made great strides in reducing costs as we gain experience with electric vehicles and their components,” Johnson said. “In fact, the Volt has seen an increase in battery range and the addition of creature comforts, such as a leather-wrapped steering wheel and MyLink, since its launch in 2010.”
Back in June, General Motors announced an aggressive rebate program that would cut as much as $5,000 from the 2013 Volt price of $39,995 and the consumer market responded very positively – allowing June to be the strongest month of 2013 and one of the best sales month for the Volt ever. Sales cooled a little in July but last month was still one of the best sales months of 2013 so it seems clear that cutting the MSRP by $5,000 brings the price of the Chevy Volt into a range where many customers are more comfortable.
The growth in electric vehicle acceptance has paid off for the Chevrolet Volt with consumers who previously wouldn’t consider an EV now looking more seriously at the Volt. However, the $40,000 price tag of the Volt still has many consumers questioning whether the ability to drive on pure electric power with endless driving range is worth that initial cost. That $5,000 drop earlier this year allured some of those folks on the fence to pull the trigger and buy a Volt but that previous $5,000 rebate had stipulations that would not apply to all buyers. This new lower price means that every person who wants to buy a 2014 Volt will be able to buy it for the same rebate-supported price of $34,995 as the 2013 Volt but the new model year won’t require the buyers to jump through any hoops or keep their fingers crossed that they will apply to all of the special deals.
Unchanged for the 2014 Chevrolet Volt is the fuel economy information as the new model year will offer the same 98MPGe (electric fuel economy equivalent) as the current models with less attractive figures of 35mpg around town and 40mpg on the highway when running with the battery fully depleted and the gasoline engine running the majority of the time. GM has not announced the electric only range but with the MPGe and gasoline fuel economy figures unchanged – the 2014 Volt will likely offer the same 38 miles of range as 2013 models.
Image shown is a 2013 model year Chevrolet Volt