Chevrolet cuts price on Spark EV; with incentives and “bonus cash”, as low as $14,995
14 April 2015
Chevrolet has lowered the price on the Spark EV 1LT to a new manufacturer’s suggested retail price starting at $25,995, down from $26,820. Depending on an individual’s tax situation, the Spark EV (earlier post) is eligible for federal tax credit up to $7,500.
California and Maryland Spark EV owners may also qualify for a $2,500 California state rebate or $2,300 Maryland excise tax exemption. Additional Chevrolet bonus cash is also available: $1,000 in California, $1,200 in Maryland, and $3,500 in Oregon. After full federal and state tax credits and Chevrolet bonus cash, the Spark EV could be as low as $14,995. Individuals should consult a tax professional prior to claiming any credits to confirm eligibility for tax benefits.
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Spark EV owners in California and Maryland are also eligible for High-Occupancy Vehicle, or carpool lane, access.
A $139 per month sign-and-drive lease for 39 months with $0 due at lease signing including security deposit but excluding tax, title, license and dealer fees, is also available, making the Chevrolet Spark EV one of the most affordable EVs on the market.
Compared to the average new gas-powered vehicle, the Spark EV can save drivers, on average, about $83 per month in fuel costs according to EPA assessments based on 24 mpg highway for an average vehicle and 12 cents per kWh of electricity cost.
Currently available at select Chevrolet dealers throughout California and Oregon, select Chevrolet dealers in Maryland will have Spark EV’s available beginning in mid-2015.
More than 90% of Spark EV owners are trading in a non-GM nameplate or adding a new car to the household.
Spark EV’s electric drive unit produces 105 kW (140 horsepower) and 327 lb-ft (444 N·m) of torque, enabling 0-60 performance of 7.2 seconds. EPA-estimated driving range is 82 miles, with an EPA-estimated 119 combined city/highway MPGe fuel economy equivalent.
The Spark EV is compatible with the SAE combo charger for DC Fast Charging as an available option. The capability enables the Spark EV to recharge up to 80% of its capacity in approximately 20 minutes at select DC Fast Charging stations based on charging levels and outside temperature.
The Spark EV’s battery system is capable of handling multiple compatible DC Fast Charges daily. Charging can also be completed in less than seven hours using a dedicated 240V charge. A 120V charge cord set comes standard. Charging can be managed and monitored remotely using the Spark EV’s smart phone application, provided by OnStar, which is standard for three years. The vehicle’s 19 kWh lithium-ion battery pack offers limited warranty protection of eight years or 100,000 miles, whichever comes first.
$25,000 without incentives is a lot for this tiny car; the ICE Spark is about $14k. $11,000 difference for a EV driveline and traction batteries is a lot. GM needs to get serious about EVs and stop living off the incentives that allow them to boost the price.
Posted by: Lad | 15 April 2015 at 12:10 AM
I would never expect GM to make anything that make sense. While everyone was so HAPPY we gave GM billions because they thought they were too big to fail, I was hoping for them to collapse and many new companies with a CLUE could rise from the ashes and we would all be enjoying much better cheaper cars today. Look at the Volt, the 35 MPG is sad and the actual electric batteries don't carry you far enough. And yet they want 33K for a compact with cheap interior. Not sure this electric thing will ever take off if GM continues.
Posted by: D | 15 April 2015 at 08:50 AM
All steps on a path, D. The new 2016 Volt will get 50 miles all-electric range and prices continue to fall.
Plugins are already cheaper on a total cost of ownership than their ICE counterparts.
You'd be hard put to find someone who drives EVs who would willingly go back to gas. Must be something there.
Posted by: electric-car-insider.com | 16 April 2015 at 07:33 AM