If you are in the market for a new car, you may want to consider the Chevy Volt. General Motors just knocked $5,000 off the sticker price for the new 2014 models.
The new discount cuts the price of the electric car, from $40,000 to $35,000. That is a 13% drop and with federal tax rebates the price could go down as low as about $27,500.
The Volt can go about 38 miles on a battery charge, then a small electric motor kicks in to power the car until it can be recharged.
Pricing and incentives on all electric cars have been getting more aggressive recently as automakers try to improve sales. While sales of electric vehicles are rising, they are still a small piece of the overall industry and dealers have been forced to cut prices or offer discounted leases in order to move the vehicles off their lots.
In fact, when Nissan dropped the price of its electric Leaf, sales soared.
The 2014 models of the Volt are expected to reach dealers later this summer.