|Chevy Volt (Photo credit: John Biehler)|
“Dropping the Volt's price removes one of the primary consideration barriers for most buyers,” said Karl Brauer, senior analyst at Kelley Blue Book.
As with most of the new plug-based vehicles on the market, Volt will also qualify for a $7,500 federal tax credit, as well as additional incentives in states like California and Colorado, GM officials bet that will further enhance its appeal.
Volt clearly needs a lift. Although sales rose 9.2 percent for the first seven months of 2013, they lagged behind the overall growth of the U.S. new car market – as well as sales gains by key competitors such as the Tesla Model S and the Nissan Leaf battery-electric vehicles. Volt had outsold both last year, though the Chevy plug-in still missed it original target of 45,000 U.S. sales by a wide margin. Read more >>