The 2014 Chevrolet Volt electric car will carry a base price of $34,995, a cut of $5,000 from the 2013 model.
That price includes an $810 destination fee, but not any optional equipment.
Chevrolet has "made great strides in reducing costs as we gain experience with electric vehicles and their components,” said Don Johnson, Chevy's vice president for U.S. sales and service.
“The 2014 Volt will offer the same impressive list of features, but for $5,000 less" than its predecessor. And the lower price "broaden[s] its exposure to price-sensitive prospective buyers," Chevy notes.
Lower price aside, the 2014 Chevy Volt is largely unchanged from the outgoing 2013 model, which gained a marginally larger lithium-ion battery pack and a few trim updates and color changes.
The latest model retains its EPA ratings of 38 miles of electric range, and 37 mpg combined in range-extending mode with its gasoline engine operating.
Thus far, the sole changes announced for the 2014 model year are a leather-wrapped steering wheel and two new paint colors: Ashen Gray Metallic and Brownstowne Metallic.
The Volt continues to qualify for a Federal income-tax credit of $7,500 and various state, local, and corporate incentives, including a $1,500 $2,500 purchase rebate from the state of California.
Volts sold in California and New York qualify for the coveted sticker that permits travel in those states' High-Occupancy Vehicle or carpool lanes with only a single occupant.
With more than 43,000 sold since December 2011, the Chevrolet Volt range-extended electric car is the best-selling plug-in car in the country.
But with price cuts on the high-volume Nissan Leaf and a handful of compliance cars sold in California, the Volt was simply out of line with its competitors--and its relative lack of sales growth this year underscored the disadvantage.
The Volt continues to earn the best customer-satisfaction ratings of any car GM sells, and lure "conquest buyers" to the Chevrolet brand.
Volt owners run almost two-thirds of their miles on grid power--225 million miles out of 364 million total, to date--and average 900 miles between monthly fill-ups.
The 2014 Chevy Volt can now be ordered, for delivery to dealers' showrooms late this summer.