Chevy Cuts Spark EV’s Price By $1,650, Could Cost As Low As $14,995 In Some States

As the electric car market is feeling the pressure from lower gas

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by John Halas

April 14, 2015 at 18:00

As the electric car market is feeling the pressure from lower gas prices and a steady flow of increasingly fuel-efficient models, automakers are dropping prices of EVs to make up for lost sales.

The latest one to do so is General Motors that just cut the price of its battery-powered Chevrolet Spark EV by $1,650 to $25,995 MSRP.

Combined with an available federal tax credit of up to $7,500, as well as a $2,500 California state rebate or $2,300 Maryland excise tax exemption, and additional Chevrolet bonus cash of $1,000 in California, $1,200 in Maryland, and $3,500 in Oregon, the Spark EV could end up costing buyers $14,995 in those three states.

GM is also offering a special lease offer for 39 months with no payment down at $139 per month plus tax:

“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.”