General Motors continues to have trouble getting consumers to plug in to the Chevy Volt. As a result, GM is cutting the price of its base model 2014 Volt to $35,000, down from $40,000. With federal tax incentives, the price for the electric car would fall to about $27,500.
The Wall Street Journal reports that plug-in vehicle sales are rising overall, “but despite government subsidies, they remain a niche.” And how!
Consider that the 7,400 battery-powered and plug-in hybrid vehicles sold in July represented less than 1 percent of all light vehicle sales for the month. GM on average sells more large pickups each day than the 1,788 Volts it moved off lots in July.
GM isn’t alone in cutting prices. Ford (it produces the Focus) and Nissan (the Leaf) have done the same, and Honda cut the lease rate on its Fit EV from $389 to $259 per month. Electric cars may someday rule the planet. But that day seems a long, long way off.