GM cuts Volt price as sales sputter

The Chevy Volt is running out of juice.

From the Detroit Free Press:

General Motors is cutting the price of the Chevrolet Volt by $5,000 after rebates failed to revive the extended-range plug-in’s sales when competitors also cut prices.

GM said the 2014 Volt will start at $34,995, including a $810 destination fee. The 2013 model will continue to be priced at $39,995 with $5,000 cash back.

There is still a $7,500 federal tax credit for buyers and additional tax incentives in certain states and localities, especially in California.

Sales have stalled in 2013, rising a meager 0.1% to 11,643 vehicles through July. The Volt was the best-selling plug-in vehicle in the U.S. in 2012, but Nissan’s pure-electric Leaf and Tesla’s luxury electric Model S could surpass it this year.