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GM is taking an aggressive step to knock down the retail price of electric vehicles (EVs)and that might make a lot of us take a closer look. Edmunds reports that the base 2014 Chevrolet Spark EV starts at $27,495, undercutting two of its key rivals, the 2013 Nissan Leaf and the 2013 Fiat 500e.
The Chevrolet Spark EV will have a comparable leasing program to the Fiat 500e, with $199 per month for 36 months with $999 due at signing.
Additionally, GM says the Spark EV's sticker price could be as low as $19,995, with a full federal tax credit that ranges from $0-$7,500.
GM said the Spark EV's sticker price could be as low as $19,995, with a full federal tax credit that ranges from $0-$7,500.
"Depending on their tax situation, California Spark EV owners may also qualify for other state and local tax credits and incentives ranging from $0-$2,500, potentially reducing the price to $17,495," said GM in a statement last week.
The Spark EV is the electrified version of Chevrolet's subcompact Spark hatchback — essentially the postmodern successor of the GM EV1 that was discontinued in 1999. The Spark EV will be the first EV to offer the SAE's new combo plug for DC fast charging.
"The capability, available shortly after launch, will enable the Spark EV to recharge up to 80 percent of its capacity in approximately 20 minutes at select DC fast charging stations when they become available," GM said.
The Spark EV will be available at select Chevrolet dealers in California and Oregon starting in mid-June.
The Spark EV goes toe-to-toe with the Nissan Leaf and Fiat 500e. For the record, the 2013 Fiat 500e starts at $32,500, including a $700 destination charge. The 2013 Nissan Leaf starts at $29,650, including an $850 destination charge.
The gas-powered 2013 Chevrolet Spark starts at $12,995, including an $810 destination charge.
GM says the Spark EV features a combined city/highway EPA estimated range of 82 miles and an EPA-estimated combined city/highway 119 MPG fuel-economy equivalent. The EPA has not yet posted official fuel economy numbers on the Spark EV.
The Chevrolet Spark EV will hit the market in California at a time when gas prices are typically around $4 a gallon.
There will be a certain amount of hand-holding provided for Spark EV customers.
Chevrolet will provide customer assistance via a Spark EV advisor. Dealers will provide on-site dedicated Spark EV service and sales experts as well. The Spark EV also comes with three years of OnStar Directions and Connections service, which includes automatic crash response, stolen vehicle assistance and connected navigation.
Edmunds says: The pricing strategy for the 2014 Chevrolet Spark EV is an aggressive one — and GM sweetens the deal with lots of customer assistance. Are you interested?