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2014 Chevrolet Volt Price Drop is Significant

2014 Chevrolet Volt Price Drop is Significant

By Jeff Youngs, August 06, 2013
The 2014 Chevrolet Volt will cost $34,995, a savings of $5,000, compared with the 2013 model. The Volt's pricing adjustment comes shortly after BMW announced prices for its new i3 model, which, when optioned a certain way, shares the Volt's unique electric and gasoline powertrain configuration.

Like the Volt, the BMW i3 is an electric car that is offered with a range-extending gasoline engine that serves as a generator. This engine is an option on the BMW, but standard on the Chevy. Also, like the Volt, a BMW i3 equipped with the optional generator can be driven from coast to coast without plugging in to recharge the battery. The BMW is priced at $45,200 including the optional range-extending generator engine. That price does not include a destination charge, which has not been set for the i3.

The move makes the Chevy Volt about $11,000 less expensive than an equivalently configured BMW i3, and Volt buyers could further reduce the cost of the car through federal, state, and local tax credits. In California, for example, a consumer could purchase a new Volt for as little as $24,995 after factoring in such credits.

Chevrolet says the Volt offers 38 miles of purely electric driving range. When the battery reaches a minimum state of charge, a gasoline engine turns on and its power is converted into electricity to continue powering the car. A maximum driving range of 380 miles is possible before the Volt needs to visit a gas station or an electrical outlet. The company says that based on the driving habits of current Volt owners, the car saves about $900 in annual fuel costs.

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