2016 Chevrolet Volt Priced $1,200 Cheaper Than 2015 Model, Starts At $33,995

If you've just purchased a 2015 Chevrolet Volt, we have a bit of bad news: General Motors has announced pricing for the 2016 Volt, and it's about $1,200 cheaper than what you paid for yours.

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For model-year 2016, the Volt will start at $33,995, including delivery. If you secure the maximum federal tax credit of $7,500 for buying an electric car, that brings the starting price to $26,495, or as low as $24,995 if you live in California and earn the state's $1,500 rebate. (However, as our colleagues at Green Car Reports note, those credits and rebates can take a while to process -- and if you take out a loan for the vehicle, your monthly note will reflect the full price, without credits.) 

But that's not all. The 2016 model-year marks the arrival of the second-generation Volt, and it's rolling into showrooms with some updates and upgrades, especially with regard to fuel/battery efficiency:

• The 2016 Volt boasts an electric-only driving range of roughly 50 miles, a substantial increase from the previous generation's range of 38 miles. Since most Americans add fewer than 40 miles to their odometer every day, that means most trips in the 2016 Volt can be carried out using just battery power (provided the car gets charged up every night).

• GM tests show that diligent owners of the 2016 Volt will travel about 1,000 miles before needing to stop for gas. (Again, regular recharging is key.) When the Volt does run on gas in range-extending mode, it earns a combined 41 mpg, up from about 37 mpg. GM estimates overall fuel economy of the 2016 model to be around 102 mpg-e.