Chevrolet News:Chevrolet Spark EV Sees A Price Drop, New Lease Special

[William Maley]

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General Motors smallest electric vehicle, the Chevrolet Spark EV will be getting a price cut. Announced today, the Chevrolet Spark EV will now ring at $25,995 (including freight), a decrease of $1,675. General Motors notes that with federal and state incentives, along with customer cash can get into a Spark EV for $14,995.

There is also a lease special available on Spark EV, with Chevrolet offering a 39 month lease for $139 a month. More important is that the lease deal doesn't require a down payment, just the usual tax, title, license, and dealer fees.

“Chevrolet is committed to making EV driving more accessible, affordable and fun. 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,” said Steve Majoros, director of Chevrolet Car and Crossover Marketing.

Source: General Motors

Press Release is on Page 2

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2015 Chevrolet Spark EV Repriced to Offer Greater Value

• As low as $14,995 after full federal and state tax credits and Chevrolet Bonus Cash
  

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.

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[57caddy]

I say, good news.  This has got to help bring in more sale, or, so I would think...  I wonder, which other manufacturers will step forward with a a price cut. 

 

Kind of weird, to read how many miles the car goes by battery life vs gas, along with a 8 yr/100,000 warranty. 

[Drew Dowdell]

William and I both were posting this same article at the same time and didn't realize it.  His got pushed out first.   Mine has some additional info and thoughts though, so I figure I'll put mine here in the comments so my efforts don't go to waste.

 

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If you live in California or Oregon, congratulations, you live in one of two states where Chevrolet sells the electric version of their Spark city car. Maryland will be joining that list later this year.

In addition to adding Maryland to the limited list of states where the Spark EV is sold, Chevy is dropping the base price on the by $1,675 for a new base MSRP of $25,995. California customers may qualify for a $2,500 rebate while Maryland customers may qualify for a $2,300 tax exemption. Chevrolet is currently offering incentives of $1,000 in California, $1,200 in Maryland, and $3,500 in Oregon. If customers qualify for all federal and state tax incentives plus the incentives from GM, a Spark EV customer can drive off for as little as $14,995. Chevy is also offering a sign and drive, 39 month lease with $0 down and $139 per month.

Savvy consumers will notice that at that lease price, the Spark EV will offer enough savings in fuel costs to cover up to 56% of the monthly payment. With the assumption of 24mpg combined for the average car and 12 cents per kWh, Chevrolet estimates that the average consumer could save up to $83 per month in fuel costs. Another benefit is the ability to use HOV lanes as a single driver in Maryland and California.

The Spark EV comes with a 19 kWh lithium-ion battery that is warrantied for 8 years or 100,000 miles. Range is 82 miles when fully charged. Available as a $750 option is an SAE combo charger for fast DC Charging. Unlike other EVs on the road, the Spark can take multiple DC fast charges per day without damaging the batteries. DC fast charging allows the Spark to take on 80 percent battery capacity in about 20 minutes. Home charging using a wall mount 240V connection (Available for $463) completes in under 7 hours. A 120 volt charge cord comes standard.

Spark EV's electric drive unit produces 140 horsepower and 327 lb-ft of torque which can scoot the car to 60 in 7.2 seconds.

At this time, the Spark EV will not be moving to the new 2016 Chevrolet Spark body style that debuted earlier this month in New York.

Source: Chevrolet Media

[Cory Wolfe]

Shame that you can only buy these in select states. I once pulled up next to a GM employee in one at a stoplight. He raced me... He lost, but not by much!

[Drew Dowdell]

Shame that you can only buy these in select states. I once pulled up next to a GM employee in one at a stoplight. He raced me... He lost, but not by much!

 

For someone who lives in a metro area with lots of public chargers, these would make a lot of sense as a city car.   Getting over 50% of your car payment back in fuel savings is not to shabby. That works out to be a $56 per month car payment in this case.

 

BV, the Spark EV is the only small Chevy that would stand a chance against an Avalon. The only one I can think of that would be closer might be the Malibu Turbo.  

[ocnblu]

So very exciting!

[G. David Felt]

Nice replacement on the way. BOLT baby BOLT!

 

Great deal if you want an EV now, but the BOLT will be GM's available in every state ride.

[57caddy]

Nice replacement on the way. BOLT baby BOLT!

 

Great deal if you want an EV now, but the BOLT will be GM's available in every state ride.

 

Oh, missed this.  Did not not know about the BOLT or I forgot, either way.  Good to hear, but checked on the price, maybe a good deal, but does it compare to the Spark?

 

Wondering, how long is it going to take for the Spark to be available in other states?  Not understanding why their limiting it to certain states, is it some kind of kick back?

[Drew Dowdell]

 

Nice replacement on the way. BOLT baby BOLT!

 

Great deal if you want an EV now, but the BOLT will be GM's available in every state ride.

 

Oh, missed this.  Did not not know about the BOLT or I forgot, either way.  Good to hear, but checked on the price, maybe a good deal, but does it compare to the Spark?

 

Wondering, how long is it going to take for the Spark to be available in other states?  Not understanding why their limiting it to certain states, is it some kind of kick back?

 

 

The Spark EV is what we call a "Compliance Car".  California and Oregon (don't know about Maryland, but possibly) have passed laws that state that a certain number of each manufacturers vehicles must be zero emissions. Thus, cars like the Spark EV and Honda Fit EV are built just to be "in compliance"  Chevy likely loses a bunch of money on each Spark EV, so their goal is to sell just enough of them to meet the law's requirements and not a single one more than that. 

 

The Chevy Bolt, while still just a concept, is heading to production and will be a vehicle sold globally. 

[57caddy]

 

 

Nice replacement on the way. BOLT baby BOLT!

 

Great deal if you want an EV now, but the BOLT will be GM's available in every state ride.

 

Oh, missed this.  Did not not know about the BOLT or I forgot, either way.  Good to hear, but checked on the price, maybe a good deal, but does it compare to the Spark?

 

Wondering, how long is it going to take for the Spark to be available in other states?  Not understanding why their limiting it to certain states, is it some kind of kick back?

 

 

The Spark EV is what we call a "Compliance Car".  California and Oregon (don't know about Maryland, but possibly) have passed laws that state that a certain number of each manufacturers vehicles must be zero emissions. Thus, cars like the Spark EV and Honda Fit EV are built just to be "in compliance"  Chevy likely loses a bunch of money on each Spark EV, so their goal is to sell just enough of them to meet the law's requirements and not a single one more than that. 

 

The Chevy Bolt, while still just a concept, is heading to production and will be a vehicle sold globally. 

 

 

Thanks for the info.on Compliance Cars.  Now, it makes sense.  It was almost like too good to be true with that price. 

I will keep my eye out, or more specifically keep reading the news feeds here, to see the progress on the EV market.

[57caddy]

Well, you guys here at Cheers and Gears are great keeping up on the latest news.  Just got through reading the write-up posted on the Bolt from your front page.

 

Just thought, I would throw you some kudos.