GM yesterday announced lower prices for the Spark EV, an already lowest price small EV in California and Oregon (And soon Maryland where much of it is built). The new price is $25,995 but after Federal and local incentives in the 3 places where it is sold in the US, the base price is just $15,000. That’s by far the easiest its ever been to get into a good electric car.
Even better, GM now offers a $0 down, $139/month lease program over 39 months which should open up the vehicle to a whole new set of consumers who don’t ever want to visit a gas station again.
Buying an electric car for $139/month makes a lot of sense. According to figures you can tabulate by State from the EPA and an example in Georgia by the Union of Concerned Scientists electric cars cost about a half to a third to go per mile. That means if your monthly gas bill is over $200, getting the electric car is almost free. Throw in some free charging at many workplaces, note that the Spark EV actually gets better electric mileage than the Leaf, used below, and you break even point might be closer to $139/month.
At $3/gallon, that is just under 50 gallons/month.
Oh an you get a very speedy, clean car that can be charged to 80% in 20 minutes and has more torque than a Ferrari.
DETROIT – Chevrolet announced today Spark EV 1LT’s new manufacturer’s suggested retail price would start at $25,995. Depending on an individual’s tax situation, the Spark EV is eligible for federal tax credit up to $7,500.
“Chevrolet is committed to making EV driving more accessible, affordable and fun” said Steve Majoros, director of Chevrolet Car and Crossover Marketing. “The Spark EV is already the most efficient – and one of the most affordable – EVs you can buy. 2015 Spark EV customers will benefit from an impressive blend of technology, capability and low cost of ownership, now at an even more impressive price.”
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.
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. More details are available at fueleconomy.gov.
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 percent of Spark EV owners are trading in a non-GM nameplate or adding a new car to the household.
“The Chevrolet Spark EV is helping us reach new buyers in critical markets like Los Angeles,” said Majoros. “Spark EV owners recognize the car as an opportunity to drive an all-electric vehicle that fits their budget and lifestyle.” The Spark EV features a combined city/highway EPA estimated range of 82 miles when fully charged and an EPA-estimated combined city/highway 119 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 percent of its capacity in approximately 20 minutes at select DC Fast Charging stations based on charging levels and outside temperature.
Unlike most competitors, 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.
Editors’ note: Manufacturer’s Suggested Retail Price excludes tax, title, license, dealer fees and optional equipment. Includes dealer freight charges and option package discounts.
*Lease example based on survey. Each dealership sets its own price. Your payments may vary.Payments are for a 2015 Chevrolet Spark EV with an MSRP of $25,995. 39 monthly payments total $5,421. Option to purchase at lease end for an amount to be determined at lease signing. GM Financial must approve lease. Take delivery by April 30, 2015. Mileage charge of $.25/mile over 10,000 miles. Lessee pays for excess wear. Payments may be higher in some states. Not available with some other offers. Residency restrictions apply.
Founded in 1911 in Detroit, Chevrolet is now one of the world’s largest car brands, doing business in more than 115 countries and selling around 4.8 million cars and trucks a year. Chevrolet provides customers with fuel-efficient vehicles that feature engaging performance, design that makes the heart beat, passive and active safety features and easy-to-use technology, all at a value. More information on Chevrolet models can be found at www.chevrolet.com.
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I wish this car was sold in more states.