GM Reports Volt Sales Down 4.3% in May for Third Straight Month image

GM reported plug-in hybrid Chevrolet Volt sales down in May for the third consecutive month.

GM said that sales of the Volt dropped 4.3% in May to 1, health 607 units, story but increased 1.4% from January to May to 7,157 units, or 100 more compared with the same period last year. Volt sales dropped 10.7% in April to 1,306 units and 35% in March. Don Johnson, vice president of sales and service for Chevrolet brand, said that retail Volt sales have seen a continuous increase and that the model has had a “much steadier cadence” compared with last year.

“Right now, we’re going to keep an eye on the segment,” he said when asked if the company had any plans for price changes on the Volt.

Lowering prices has helped Nissan increase sales of its all-electric Leaf, up more than 300% compared with May 2012, surpassing the Volt so far this year. Last month Nissan sold 2,138 Leafs and 7,614 units for the year. Nissan announced in January it was reducing the 2013 Leaf price to $28,800.

Last week Honda announced it will cut the price to lease its electric vehicle, part of its plan to boost sales. The monthly lease for the Fit EV will be cut from $389 to $259 a month and by $130 a month the cost of existing Fit EV leases.

Source: The Detroit News