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Chevy Knocks $5,000 Off the Chevy Volt for 2014

GM has announced that the Chevy Volt will be priced at $34,995 next year. In a press release published today, the company emphasized the value of the 2014 Volt, which it says could start at $27,495 for individuals claiming the maximum federal tax credits of $7,500 (of course, this figure will depend on your individual tax liability).

"The lower price and cost savings from driving on electricity provide Volt owners an unmatched balance of technology, capability and cost of ownership," said Don Johnson, U.S. vice president, Chevrolet sales and service. "The 2014 Volt will offer the same impressive list of features, but for $5,000 less."

All purchases are subject to an $810 handling fee, and not everyone will be able to claim the maximum amount of tax credits. However, GM is hoping that the price drop for the Volt 2014 will broaden the vehicle's exposure to price-sensitive shoppers using sites like kbb.com, Edmunds.com and cars.com to search for plug-in electric vehicles or gas-powered alternative sedans.