2016 Chevy Volt Will Be Cheaper Than 2015 Model

Luke Sharma

Chevrolet has announced that the remodelled 2016 Chevy Volt plug-in hybrid will be cheaper than the 2015 model.

The new Chevy Volt will cost around $33,995, which is around $1,175 cheaper than it's 2015 equivalent. To add to the savings, Chevrolet has announced that buyers of the 2016 Volt will be eligible for a $7,500 federal tax credit.

The new 2016 Chevy Volt plug-in hybrid was unveiled in January at the North American International Auto Show in Detroit to much praise. The redesigned Volt has a streamlined body, designed for aerodynamic efficiency. It also has a touchscreen LED display on the center console with zoom capability, which can be used to display the Volt's battery information (power flow, charging etc.); use satellite navigation; and to use as a hands-free phone.

It is also far more fuel efficient and can travel up to 15 miles extra on the battery than the 2015 Volt model. With the 2016 Volt, you will get around 102mpg-e (gas equivalent in electricity) vs only 98mpg-e with the 2015 model. It also does around 41mpg (2016) versus 37mpg (2015) when running on a combination of gas and electricity.

As much as the 2016 Chevy Volt is one of the most talked about hybrid cars on the internet right now, the 2015 edition didn't rank as highly as some other hybrids. It was ranked #9 on the U.S. News list of best hybrids for 2015. On top of this, the 2016 Chevy Volt, despite the cut in price, will still cost more than the new Toyota Prius ($30,815) and the Ford C-Max Energi ($32,595).

Chevrolet Volt Logo

Like most other hybrids, sales for the 2015 Volt have dropped over the past year due to gas prices dropping to around $3 across the country. This doesn't help with GM's target to have 500,000 electric cars on the road by 2017. There was only an increase of 30,000 GM electric cars between 2013-2014, up from 150,000 to 180,000.

Nevertheless, there has been a stroke of luck for GM in the form of carpools. As an incentive for people to buy electric cars, Californian electric car owners are allowed to use carpool lanes regardless of the number of occupants. This incentive has been one of the driving forces behind electric car ownership in California. The 2015 model of the Chevy Volt didn't qualify for the "single rider" carpool lane in California, but it has been stated that the 2016 Volt does in fact qualify.

Another attempt at marketing for Chevrolet, the 2016 Chevy Volt will feature in the hotly anticipated new Disney movie Tomorrowland, starring George Clooney, and will be used in most adverts for the movie.

[Photos by Bill Pugliano/Getty Images]