The 2016 Chevrolet Volt plug-in hybrid will be priced from $33,995 when it goes on sale sometime this fall, a GM executive said this morning.
The price, which includes delivery, is $1,175 lower than that of the outgoing 2015 Volt.
The old Volt lacks the 50-mile range, 41-mpg fuel efficiency, and fifth "seating position" of the 2016 version.
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But the price may nonetheless disappoint Volt fans who had hoped the price would fall to a level closer to $30,000.
The $34,000 price puts the Volt very close to the average price of a new vehicle: According to KBB, last month the estimated average transaction price for a light vehicle sold in the U.S. was $33,560.
2016 Chevrolet Volt
The 2016 Chevy Volt qualifies for the full $7,500 Federal income-tax credit for purchase of an electric car, as well as a $1,500 purchase rebate from the state of California.
Numerous additional state, regional, local, and corporate incentives are also available for the car.
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In its release, Chevrolet says, "Pricing will be as low as $26,495 after the full federal tax credit of $7,500."
This is the practice of so-called "net pricing," in which a carmaker cites an effective price after the buyer receives the tax credit--which can take up to 15 months if the car is purchased.
2016 Chevrolet Volt
The buyer must also finance the full purchase price, not the net price, unless the car is leased--when the leasing company rolls the tax credit into the lease price to lower the cost.
GM uses net pricing at a state level as well, when it notes in its release, "In California, the [Volt]’s largest market, residents of the state will be able to purchase the all-new Volt for as low as $24,995 after state and Federal incentives."
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The actual manufacturer's suggested retail price for the 2016 Volt starts at $33,170, to which a mandatory $825 delivery fee is added.
Tax, title, license, and additional dealer fees will raise that price, as will optional equipment.
2016 Chevrolet Volt plug-in hybrid - details of Voltec drivetrain from SAE presentations, Feb 2015
The 2015 Toyota Prius Plug-In Hybrid (with 11 miles of electric range), which receives only a $2,500 Federal income-tax credit, carries a base price of $30,815, which includes a mandatory $825 delivery fee.
With 20 miles of electric range, the 2015 Ford C-Max Energi plug-in hybrid starts at $32,595. It receives a $4,007 Federal income-tax credit.
GM data suggests that owners of the 2016 Volt will be able to make nine out of 10 trips solely under electric power, without burning gasoline, and drive 1,000 miles or more between fill-ups.