The Chevrolet Volt plug-in hybrid was an electrifying deal when it launched, back in 2010, as one of the first in a growing segment at a time when things weren't looking green for General Motors.

In its second iteration, the Volt will actually cost less to purchase than the model it replaces—by approximately 3 percent, or about $1100. The 2016 model will start at $33,995, including destination fees, as opposed to the current model's $35,110 MSRP.

The price drop, while not an unprecedented move by an automaker, likely has little to do with market conditions or reactions from its competitors. Some of the Volt's top plug-in competition, like the Ford Fusion Energi and Toyota Prius Plug-In, both sit in the $30,000 space. The next Volt will retain a four-cylinder engine as a "range-extender," with a dual-motor battery-electric system as prime mover.

Click here to read our review of the current-generation Volt.

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