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2016 Chevy Volt will start at $33,995*

One of the biggest mysteries regarding the 2016 Chevy Volt has been revealed. Chevy announced today that the next-gen plug-in hybrid will have an MSRP of $33,995, which includes GM's $825 destination fee. That's a few hundred dollars less than the current Volt, which has an MSRP of $34,170. The second-gen Volt is about more than a price cut, though. The car has an increased all-electric range (50 miles vs. 38 in the current model) and better fuel economy. Once the battery power runs out – which it doesn't do, in most situations, since 90 percent of all trips are electric-only – the no-longer-premium-only gas engine offers 41 miles per gallon, up from 37 mpg. We know most buyers are price-conscious, and with the still-available federal tax incentive of up to $7,500, the new Volt can be had for $26,495. That should put a spring back into sluggish Volt sales, which are down 46 percent year-over-year so far in 2015. Through the end of April, GM has sold a cumulative 76,136 first-gen Volts since introducing the car in 2010. Chevrolet Announces 2016 Volt Pricing Next Gen delivers more technology at new price as low as $26,495 DETROIT – The Chevrolet Volt is poised to continue to bring new owners to the electric plug-in family. Pricing will be as low as $26,495 after the full federal tax credit of $7,500. (Federal tax credit can range from $0 up to $7,500.) In California, the vehicle's largest market, residents of the state will be able to purchase the all-new Volt for as low as $24,995 after state and Federal incentives. The 2016 model will start at $33,995 MSRP, including an $825 destination fee (excluding tax, title, license and dealer fees). This is almost $1,200 less than the current generation Volt. "The next generation Chevrolet Volt delivers more technology, the ability to drive further between gas fill ups and now with even more value to our customers. It's what our loyal Volt owners told us they wanted," said Steve Majoros, Director, Chevrolet Marketing. "We are confident we will continue to attract new customers to Volt with the vehicle's product improvements and attractive price." The Volt continues to be a success with the brand with nearly 70 percent of Volt owners trading in a non-GM product or adding to their household fleet in 2014, the highest of any Chevy nameplate. The number one trade-in for the Volt is the Toyota Prius. To date more than 75,000 first generation Volt owners have driven hundreds of millions of EV miles.

Weekly Recap: Tesla loses money, still dominates the news

Some people get an inordinate amount of attention. In politics, it's Donald Trump. In football, it's Jim Harbaugh. And in the auto world, it's Elon Musk and his always-fascinating electric car company, Tesla Motors. General Motors is spending $877 million to upgrade a factory. So what! US auto sales are up. Who cares? Tesla has a metal snake that will recharge your car! So was the week in Tesla – er, the industry. Snarkiness aside, Tesla did dominate the news cycle, led by the announcement the company lost $184 million in the second quarter. Tesla also said it expects to deliver between 50,000 and 55,000 vehicles this year, and is preparing for a full launch of the Model X crossover in September. Musk also made news during the earnings call by simply not answering a question about ride sharing, leading to speculation Tesla could be considering its own operation. While the financials were the arguably the most important company news, reports of a Model S cyber hacking were more compelling fodder for Tesla followers. Researchers were able to attack the sedan and bring it to a stop, though they required access to the car first. Tesla says it already has deployed a remedy for the situation. On a lighter note, Tesla published a video of its metal charger prototype that autonomously uncoils like a snake to power up the company's vehicles, provoking plenty of humorous comments and comparisons. Watch it and decide for yourself. While some of this might seem trivial, much of Tesla's recent attention has been warranted. It's the first startup US automaker in decades to launch from nothing and actually gain traction in the market. Sure, Musk is a lightning rod and Tesla always seems to be in the spotlight. But amid all of the publicity, it easy to lose sight of the new reality: Tesla is a force. OTHER NEWS & NOTES 2016 Chevy Volt lights up 106 MPGe The Chevy Volt's vitals are looking healthier for 2016. The second-generation plug-in hybrid racks up a gaudy 106 miles per gallon equivalent, which is an increase of eight MPGe from the 2015 model. The new Volt can travel 53 miles on electricity, a significant jump from the 2015 Volt's 38-mile range. The new car also has a 420-mile total range when factoring in the capability of the gasoline engine, which is 40 miles greater than the current car offers.

Top Gear names BMW i8 Car of the Year, Corvette, Ferrari, Mercedes also win big

The lads at Top Gear have released their listing of the finest cars of the past year, handing the ultimate honor to BMW's revolutionary i8 plug-in-hybrid supercar. "The i8 is a milestone in the annals of automotive history and a glorious statement for an exciting and positive future. The i8 delivers - and then some," the British mag wrote. The i8, though, was far from the only hybridized car to take victories. James May and Richard Hammond both highlighted hybrids as their personal cars of the year, with May saluting the Ferrari LaFerrari and the Hamster, unsurprisingly, heaping praise on the Porsche 918 Spyder. Jeremy Clarkson, meanwhile, opted to shock many by selecting not only an American car as his best of 2014, but giving the honor to of all things, a Corvette. Clarkson wasn't the only person to honor the USA's iconic sports car, with the new, 650-horsepower Z06 variant being named TG's Muscle Car of the Year. Other big winners include Mercedes-Benz, which TG honored for S-Class Coupe (Luxury Car of the Year), the new AMG GT (Sports Car of the Year) and the not-for-US C-Class Estate (Family Car of the Year). The 458 Italia Speciale A snagged a second win for Ferrari. The best of the rest include the Citroen C4 Cactus, Renault Twingo, Volkswagen Golf R, Lamborghini Huracan and Audi TT. Take a look below for the celebratory press blast from BMW. The BMW i8 wins Top Gear Car of the Year The BMW i8 has been named as Top Gear magazine's global Car of the Year 2014. The plug-in hybrid performance vehicle beat off some stiff competition from a host of other premium and luxury manufacturers to win the overall award. The editorial team of Top Gear commended the BMW i8 for its breadth of abilities. Its 1.5-litre three-cylinder turbocharged petrol engine combined with an electric motor gives searing acceleration and driver enjoyment but all wrapped in a package that takes BMW's EfficientDynamics philosophy to the extreme courtesy of CO2 emissions less than 49g/km and a 135mpg combined cycle figure. Charlie Turner, Editor in Chief at Top Gear magazine, said: "The BMW is a milestone in the annals of automotive history and a glorious statement for an exciting and positive future. The i8 delivers – and then some. It's the kind of car we should celebrate, a beautiful vision of the future, delivered now.