Aug 6 - U.S. sales of electric cars rose to just 0.5 percent of total sales through July, according to one estimate, which may explain why GM announced a $5,000 price cut for the 2014 Chevy Volt. Conway G. Gittens reports.
The Daily Digit is half of one percent Despite all the hype surrounding electric cars, that segment of the market only grew to just half of one percent of all U.S. car sales through July, according to website hybridcars.com General Motors hopes to speed that up with a $5,000 price cut on the 2014 Chevy Volt. GM took a similar step with the 2013 model in the past. Cutting prices to get Americans more interested in driving an electric car is not GM's strategy alone. Nissan lowered the price of its Leaf by more than $6,000, Honda slashed the lease price by a third on its sub-compact electric-powered car and Ford discounted the cost of its 2014 electric Ford Focus by 10 percent. Despite bringing out the knife, electric cars are still expensive. The 2014 Chevy Volt will set you back by $35,000, even with that $5,000 price cut.