- General Motors has slashed the price of the 2013 Chevrolet Volt by $4,000 in response to slow sales and intense pricing pressure from competitors.
- GM cut the price of the 2012 Chevrolet Volt by $5,000.
- GM is also offering a lower lease price of $269 a month on the Chevrolet Volt.
DETROIT — General Motors has slashed the price of the 2013 Chevrolet Volt by $4,000 in response to slow sales and intense pricing pressure from competitors.
GM cut the price of the 2012 Chevrolet Volt by $5,000.
GM is also offering a lower lease price of $269 a month on the Chevrolet Volt. The new 36-month lease offer on Volt requires a $2,399 down payment. The previous lease price on Volt was $299 a month.
The new Volt offers run through July 1. The 2013 Volt starts at $39,995, including an $850 destination charge. The lease offer does not include the cash-back incentive.
"We are seeing increased competition in the marketplace from a price perspective," said Michelle Malcho, a GM spokeswoman, in a phone conversation on Tuesday with Edmunds. "Eight new electric vehicles are coming to market and our competitors are taking an aggressive stance."
The new EVs include the 2013 Honda Fit EV and the 2014 Chevrolet Spark EV. The Volt is a plug-in hybrid, but many consumers consider Volt's competitors to be electric vehicles, including the 2013 Tesla Model S and the 2013 Nissan Leaf.
Honda recently cut the lease price on its 2013 Honda Fit EV from $389 to $259 a month, in response to pricing pressure from the Leaf and 2013 Fiat 500e. In comparison, an entry-level 2013 Nissan Leaf can be leased for $199 a month. Chrysler and GM also offer $199-a-month leases on the 2013 Fiat 500e and 2014 Chevrolet Spark EV.
GM sold 1,607 Volts in May 2013 versus 1,680 Volts in May 2012, reflecting a drop of 4.3 percent, according to the automaker.
This latest round of Volt incentives are in addition to a $7,500 federal tax credit and a $1,500 state tax credit for California residents. The final cost of a 2013 Volt could be as low as $28,495 for non-California residents.
Edmunds says: GM is under pressure to move its Volt inventory, which is turning out to be good news for consumers looking to save money.