Print 57 comment(s) - last by Apone.. on May 28 at 2:03 PM

Chevrolet Spark pricing gets official

Chevrolet has offered up the official pricing on its Spark EV -- the little vehicle will carry an MSRP of $27,495. Even though the outright purchase price for the Spark is $27,495, people who qualify for the $7,500 federal tax credit will be able to get that purchase price down to $19,995.
People interested in the Spark EV that live in certain areas of California could also qualify for up to an additional $2,500 off purchase price.
Chevrolet is also offering a very attractive lease option for the small electric vehicle that most people will probably choose. The lease option is for 36 months at $199 per month. That lease price puts the monthly out-of-pocket cost for the Spark on par with the Nissan Leaf and the Fiat 500e. The Spark lease does require a $999 down payment, which doesn't include tax, title, registration and other dealer fees.

The EPA estimates that the driving range for the vehicle on a full charge will be 82 miles. The vehicle also uses a SAE combo charger able to recharge the battery to 80% in only 20 min.

A regular, gasoline-engined Spark has an MSRP of $12,185 and get EPA estimated 32/38 mpg (city/highway).

"The Chevrolet Spark EV is the most efficient – and now one of the most affordable - EVs you can buy" said Chris Perry, vice president, Chevrolet Marketing. "Combined with outstanding infotainment and great design, the fun-to-drive Spark EV is engineered to impress."
The Spark EV will be offered through select Chevrolet dealers in California and Oregon beginning in June of 2013.

Source: Autoblog Green

Comments     Threshold

This article is over a month old, voting and posting comments is disabled

This must be a joke
By ERROR666 on 5/23/2013 11:02:31 AM , Rating: 4
12k car for 30k???
I can assume that some people just want to buy a small ugly car that's not really good at anything. But buying it for more then 2x the price just doesn't make any sense at all.

RE: This must be a joke
By Harinezumi on 5/23/2013 12:16:43 PM , Rating: 3
Given that I've spent over $180 in the past month on gas for my Civic, the $199/month lease sounds pretty cost effective. I imagine there are plenty of other people with longish commutes, who don't care about how their car looks or how much it fits as long as it will get them to the office and back in a cost-effective manner.

Also, that car is 20k after the tax credit, not 30k.

RE: This must be a joke
By fleshconsumed on 5/23/2013 12:48:17 PM , Rating: 2
Except based on your gas bill you're driving at least 16200 miles a year assuming $4 a gallon and 30 mpg average. I think typical Chevy Volt lease has 12K annual mileage limit, spark will have something similar. So that $199 is not as cost effective as you think it is if you have to pay penalty for driving over the limit.

RE: This must be a joke
By Cheesew1z69 on 5/23/2013 12:54:59 PM , Rating: 2
And where is this car for "12k"? Hmm?

RE: This must be a joke
By GulWestfale on 5/23/2013 1:35:33 PM , Rating: 3
RE: This must be a joke
By Cheesew1z69 on 5/23/2013 6:03:38 PM , Rating: 1
Yep, because that's ALL electric...Show me the 12k ELECTRIC car. Obviously the point went over your head...

RE: This must be a joke
By GulWestfale on 5/23/2013 6:07:07 PM , Rating: 3
his point was that the spark is a 12k car that chevy is trying to sell for twice as much because it's an electric. i guess you didn't pay attention in special school?

RE: This must be a joke
By Cheesew1z69 on 5/23/2013 6:10:45 PM , Rating: 1
His point is wrong. The Spark is 27k, not 12k. If it was 12k, it would be 12k.

Really? You want to talk about "special school"?

RE: This must be a joke
By Mint on 5/24/2013 2:22:57 PM , Rating: 2
Yeah, for the base model. You also forgot that it's $20k after tax credit.

A comparable model is one with auto and power door locks, features that 90%+ of new cars have, including the EV. That's $14k. The gas version is also dog slow.

Here's the surprise: Whether you finance or lease, the $20k EV costs less per month than the $14k equivalent gas model.

So you get a faster, quieter, more reliable car for less money, but can't use it for long trips. For many people, that's a good deal.

RE: This must be a joke
By JediJeb on 5/25/2013 5:28:11 PM , Rating: 2
Yeah, for the base model. You also forgot that it's $20k after tax credit.

That is assuming you owe at least $7500 in taxes, as for me the tax credit this year would only have given me back maybe $5000 so it actually cost $22,500 and for someone making less money than I do it would cost even more because they would not get that much money back on a refund. Also when you finance you have to finance the full pre-tax-credit price so it is misleading to say it only cost $20k.

Even compared to the non base model gas version the EV version still costs almost twice as much up front. Another thing to consider is once the sell 60,000 of these the tax credit begins to be reduced until they hit 200,000 units to where it is completely gone. Not that they will sell that many any time soon. There is also a catch that if a dealership for some reason registers the EV to themselves for demo or other reasons it becomes ineligible for the tax credit once they sell it.

It is just a big misleading statement when everyone up front gives the price of EVs minus the $7500 tax credit.

RE: This must be a joke
By Mint on 5/26/2013 10:10:32 AM , Rating: 2
Your 60,000 figure is incorrect. That was many years ago for regular hybrids. 200k is the correct figure, and it'll take some time to hit that (though the Volt eats into that figure as well for GM).

As for financing, just make sure the loan doesn't have a penalty for extra payment, so when you get the $7500 rebate, it becomes equivalent to financing a $20k car.

If your credit doesn't allow that, or if you don't earn enough to benefit from the full tax credit, then leasing is probably a better option. The discount applies to everyone in that case.

RE: This must be a joke
By BRB29 on 5/23/2013 1:50:48 PM , Rating: 2
So you conveniently rounded down the cheap gas model then rounded up the EV model by a few thousand

It's 12.2k vs 27.5k

after tax credit
12.2k vs 20k

It's still a terrible ratio lol. But at least with the fuel savings, it wouldn't be that bad. It's obviously a city car and there's nothing better in the city than a small electric or hybrid vehicle.

RE: This must be a joke
By Mint on 5/24/2013 2:32:37 PM , Rating: 2
Most people want auto and power door locks. That makes the gas version it $14k.

Over 5+ years, the $20k EV actually works out to less (if you lease it's much less right off the bat), and is a better car. 0-60 in under 8 seconds (11+ for gas), silent, better standard features, far better resale value, etc.

There's only one reason to buy the gas version: range. If you can live with 80 miles of range, you'd be an idiot to buy the gas car.

"Nowadays, security guys break the Mac every single day. Every single day, they come out with a total exploit, your machine can be taken over totally. I dare anybody to do that once a month on the Windows machine." -- Bill Gates

Most Popular ArticlesAre you ready for this ? HyperDrive Aircraft
September 24, 2016, 9:29 AM
Leaked – Samsung S8 is a Dream and a Dream 2
September 25, 2016, 8:00 AM
Yahoo Hacked - Change Your Passwords and Security Info ASAP!
September 23, 2016, 5:45 AM
A is for Apples
September 23, 2016, 5:32 AM
Walmart may get "Robot Shopping Carts?"
September 17, 2016, 6:01 AM

Copyright 2016 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki