Chevy Spark EV Priced at $19,995 After Federal Incentive; 36-Month Lease is $199 Per Month With $999 Down
Here’s the news we’ve all been eagerly waiting for:
“Chevrolet announced today a low-mileage lease on the new 2014 Spark EV 1LT for as low as $199 per month* for 36 months, with $999 due at lease signing including security deposit (tax, title, license dealer fees extra), making the vehicle one of the most affordable EVs on the market. Spark EV’s Manufacturer’s Suggested Retail Price starts at $27,495 – as low as $19,995 net of the full federal tax credit which ranges from $0 to $7,500 – and includes $810 destination freight charge.”
Yes, that’s cheap. And we can’t help but notice, lower than the new 2013 entry level Nissan Leaf at $28,800.
General Motors further points out that some California residents will be able to buy the Spark EV for as low as $17,495 after the state’s $2,500 incentive.
“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.”
Some of the finer details on the lease deal include that it’s a so-called low-mileage lease (12,000 miles per yer) and that exceeded that mark will cost you $0.25 per mile.
Regardless, Chevy hit the mark here by dropping the Spark EV’s MSRP well below the “under $25,000 with tax incentives” it had been telling us for quite some time now.
With a price this low, don’t you wish GM would commit to selling it nationwide?
The Spark EV will launch in mid-June in California and Oregon.
Additional details on the 2014 Spark EV are listed below:
- EPA Range Rating: 82 Miles
- MPGe: 128 city–109 highway–119 combined
- SAE Combo Quick Charger: Optional–Though GM’s Spark EV site says “Late Availability” and notes that compatible stations won’t be around until “late 2013.”
- HP: 130
- Torque: 400 pound-feet (exec talks to us about it here)
- 0 to 60 MPH: Less than 8 seconds “and it won’t be 7.9 seconds,” says Chuck Russell, vehicle chief engineer for the Spark EV. (props to ScottF on the quote)
- Charge Time: 7 Hours at 240 Volt—This automatically implies that the Spark EV’s on-board charger is a 3.3-kW unit
- Battery Capacity: 21 kWh
Spark EV Gallery: (double click)