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2016 Chevrolet Volt to Start at $33,995

As low as $26,495 with full federal tax credit.

Not only is the 2016 Chevrolet Volt more fuel-efficient and capable of longer all-electric range than its predecessor, it’s also a bit cheaper. Chevy announced today that the 2016 Chevrolet Volt will cost $33,995 including destination, which is $1,175 cheaper than the outgoing Volt.

With the full $7,500 tax incentive from the federal government, Chevy says the 2016 Chevrolet Volt could be purchased for as little as $26,495, or $24,995 in California thanks to that state’s additional incentives.

The continually falling price of the Chevrolet Volt follows the precipitous $5,000 price cut that the car experienced between the 2013 and 2014 model years. Volt sales have been dropping consistently as hybrid and non-hybrid competitors alike catch up in performance and efficiency, not to mention the low cost of gas that doesn’t create a pressing demand for plug-in hybrids.

Nonetheless, the 2016 Chevrolet Volt, which debuted at the Detroit auto show in January, looks to stay ahead of the game on the plug-in hybrid battlefront. With an estimated 41-mpg rating when running on its gasoline engine and 102 mpge overall when running as a hybrid, the 2016 Chevrolet Volt also sees its all-electric range rating grow 31 percent to 40 miles.

The new capabilities come as a result of a new 1.5-liter range-extender gas engine from the Ecotec family, as well as a new 18-kWh battery pack and electric motor, and a lighter curb weight enabled in part by an aluminum hood and liftgate,

Expect the 2016 Chevrolet Volt to go on sale by fall of this year.