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GM Slashes Volt Price to Spark Sales
General Motors Co. has cut the base price of the 2013 Chevrolet Volt extended-range hybrid sedan by $4,000 to $36,000 in a bid to spur sluggish demand.
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General Motors Co. has cut the base price of the 2013 Chevrolet Volt extended-range hybrid sedan by $4,000 to $36,000 in a bid to spur sluggish demand.
GM slashed the starting price of the 2012 Volt by $5,000. Customers also can qualify for a $7,500 federal income tax credit.
The company has been offering a sweetened three-year lease deal of $269 per month with a $2,400 down payment or 0% financing for 48 months, plus a $3,000 cash rebate. Rivals Ford, Honda and Nissan also are offering cut-rate leases on electric vehicles.
Chevrolet has a 140-day supply of Volts, more than twice the industry's ideal level. The brand seeks to shrink inventory in preparation for the introduction of the 2014 model.
Volt sales in the U.S. slid 4% year over year in May to 1,600 cars compared with an 8% increase for the overall auto market. GM aimed to boost domestic Volt sales to 40,000 units this year from 23,500 units in 2012. But volume has grown only 1% to 7,200 units in the January-May period.
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