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2014 Chevrolet Volt gets a $5,000 price cut

General Motors is cutting the Chevrolet Volt's price by $5,000 amid price pressure from rival electrified vehicles. The sticker price on the 2014 Volt, which will arrive at dealerships this month, will be $34,995, including an $810 destination fee. That drops the effective price to $27,495, after applying the $7,500 federal tax credit for the plug-in hybrid.

Volvo designer Peter Horbury moves to China's Geely Group

Volvo Car Corp. styling chief Peter Horbury is moving to the Swedish automaker's sister brand, Geely Group, as senior vice president design. A decision on who will succeed Horbury as Volvo head of design has not been made.

Britain to be third global production site for the Nissan Leaf EV after Japan, U.S.

Nissan Motor Co. said it will build the new Leaf electric vehicle at Britain's Sunderland assembly plant starting in early 2013, with initial capacity of 50,000 units. The Japanese company and its French alliance partner Renault will invest more than $642.6 million in the project, including the construction of a lithium ion battery plant on the site.