In the midst the price increases implemented by every car maker on their respective car models, Chevrolet has recently revealed that the instead of bumping the price of the 2014 version of the Chevrolet Volt, the brand has decided to drop this by about $5,000.
According to the US car maker, the 2014 Chevrolet Volt will have a starting price of $34,995 including the destination charge of $810. This figure reflects an estimated reduction of about $5000 since the price of the 2013 Chevrolet Volt starts at $39,995 including the destination charges.
When asked to provide a comment regarding the price reduction, Chevrolet stressed that such move was basically triggered by the fact that the brand has reduced its costs in producing the Volt since their personnel already earned the needed experience and expertise that leads to more efficient production.
Aside from that, Chevrolet has also explained that the price drop could also be considered as the way of the carmaker in boosting the consumers’ interest on the Volt as soon as they know that the price of the vehicle has gone down.
General Motors has also issued a statement that the slashing of the price of the 2014 Chevrolet Volt was also a strategy which aims to broaden the vehicle’s exposure to price-sensitive buyers of hybrid car models who are fund of using several online sites to search for the potential plug-in hybrid or electric car that they would soon be purchasing.
Despite the justifications provided by General Motors and Chevrolet, many car experts still believe that the brand’s decision to reduce the price of the 2014 Chevrolet Volt was also triggered by the series of price slashes that were implemented by other producers of both electric and hybrid car models.
Just last month, Ford has reduced the price of the 2014 Ford Focus Electric to $35,995 reflecting a $4000 reduction in the vehicle’s cost. Last January, Nissan has also cut the price of the 2013 Nissan Leaf by about $6,400 and this move reduced the vehicle’s starting price to $29,650.
Given this trend, hybrid car buyers could still expect that the prices of the leading hybrid and electric vehicle models in the market will continue to fall down. This is because the competition continues to intensify and every hybrid car maker is doing its best to outsell its rivals.