Chevy Volt, one of the top EVs on the market, is set to see a price drop in Canada.
Green Autoblog notes General Motors is knocking off $5,000 (CDN) for those who buy a 2014 Volt at $36,895, plus $1,600 destination fee. However, tax incentives in different provinces makes the price even lower.
That would compare with the US 2014 Volt price of $34,995 (including a destination fee of $810), plus a Federal tax credits of $7,500.
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The Chevy Volt ranks as one of the top sellers in the North America market. However, July US Volt sales were 1,788 compared to the Nissan Leaf which finished number one with 1,864.
The recent announcement is in line with a report which came out recently that strong sales and a decline in battery prices will continue to provide underlying support for the EV market:
An Electrification Coalition and Price Waterhouse Coopers study, “State of the Plug-in Electric Vehicle,” finds that PEVs [Plug-in Electric Vehicles] — including Tesla’s Model S, GM Chevy Volt, and the Nissan Leaf — have dominated EV sales. More than 110,000 plug-in vehicles have been sold since January 2011. EV sales in 2013 alone have increased 100% in the first half of 2013, compared to the first six months a year earlier.
One will wonder now with the price cut if this will push other companies, including Nissan, to give similar offers for Canadian customers. How much would Nissan be willing to cut the Leaf’s price in Canada in order to gain further market traction if they were to?