General Motors is knocking 12.5 percent off the Chevrolet Volt's sticker price as it tries to better compete with electric car rivals.
The automaker says the 2014 Volt now will start at $34,995 including shipping—$5,000 less than the current model. The new model is scheduled to reach showrooms late this summer.
GM and other automakers have been forced to cut electric car prices or offer discounted leases in order to move them off dealer lots. Relatively stable gasoline prices, more efficient gasoline engines and increased competition from new models have tamped down electric car prices.
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