Chevrolet Spark EV Priced Below $25k After $7,500 Federal Tax Credit
November 27, 2012 2:25 PM
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Spark EV will come with an 8-year/100,000 mile battery warranty
We've talked about
Chevrolet's Spark EV for quite some time
. Over the past year, numerous details have been revealed about the vehicle. Most recently, it was revealed that the vehicle's 130hp/400 lb-ft torque electric motor was good enough to
propel it to 60 mph in less than eight seconds
Today, we've learned that General Motors has priced the vehicle at "under $25,000" when tax credits are taken into account. In other words, we're expecting that the vehicle will actually priced at $32,495 before the $7,500 federal tax credit is applied.
For comparison, the
Ford Focus Electric
are priced at $35,200 and $39,995 respectively before the $7,500 federal tax credit kicks in. Depending on where you live, the Spark EV might also quality for
state tax credits/rebates
that would knock the price down even further.
According to GM, the Spark EV features a 560-pound lithium-ion battery pack that is warrantied for 8-years/100,000 miles. This should be enough to give peace of mind to customers who plan on keeping the vehicle for more than the typical 5-year loan period.
The Spark EV will also be the first vehicle that features SAE Combo DC Fast Charging capabilities. This allows the Spark EV to reach 80 percent of its charge within 20 minutes. Getting recharging times down to reasonable levels is a critical in the adoption of electric vehicles in the U.S. and this is a much needed step in that direction.
“The Spark EV battery has undergone more than 200,000 hours of testing in our global battery systems labs,” said Pamela Fletcher, Chevrolet executive chief engineer of electrified vehicles. “It is extremely durable and has undergone the same abuse tolerance testing as the Volt battery.”
GM still hasn't provided us details on how far the Spark EV will travel on a charge, but we expect to learn more details closer to its Summer 2013 launch.
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RE: These Tax Credits Are Rediculous
11/28/2012 3:48:39 PM
I'd heard 30k a car a day or so ago (not from Fox News, but direct from an AP report, you troll), but didn't buy it. Sounded too high to make sense.
However, I'm absolutely confident they have somewhere between very slightly negative to negligibly positive margins on it. All that effort in support, development, etc. for a car that sells just 3k a month as you point out? If you can't see its a loss-leader halo product then you're blind.
As for sales growing faster than regular hybrids, you remind me of the problem in development economics. Sure, a dirt-poor impoverished nation can grow at 10% a year relative to, say, France. It's off such a low base, though, that they'll never catch up in a single lifetime. It's irrelevant.
RE: These Tax Credits Are Rediculous
11/28/2012 4:46:23 PM
I'm not being a troll. Fox News did run the story about this latest report, and in the past they pushed this nonsense more than any other new outlet. That's why Lutz targetted them specifically in his blog.
All that effort is not just for a low margin product. It is for an entire line of products beginning with the Volt. The Ampera in Europe is going to be huge with fleets, because corporations have to pay their employee's gas bills which are twice as large as here (I'm quite shocked that nobody in Europe developed a PHEV before GM, but they're now a step ahead). The Cadillac ELR will have a fat margin. GM plans to use the Voltec powertrain for millions of cars.
"negligibly positive margins" doesn't make it a loss leader. If you include R&D when calling it loss leading, then every car is loss leading.
Did you even look at that data? It's accelerating at at pace that'll take far less than a lifetime to become significant. They're not going to hit Obama's overly optimistic goal of 1M in 2015, but they're taking off.
Every technology has to start somewhere. To write this off as irrelevant is extremely myopic.
"Spreading the rumors, it's very easy because the people who write about Apple want that story, and you can claim its credible because you spoke to someone at Apple." -- Investment guru Jim Cramer
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