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2015 Chevy Spark EV Price Cut Pays Off Big for GM

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Updates for the 2015 Chevy Spark EV

The 2015 Chevy Spark EV

With the new and improved (and colorful!) 2016 Chevy Spark EV on its way to market, General Motors decided last month to lower the cost of 2015 Sparks. GM knocked almost $700 of the price, bringing the 2015 model’s MSRP down to $25,995. Even more enticing, the automaker lowered lease prices from $199 to just $139 a month—and that seems to have done the trick.

Chevy sold an impressive 920 Spark EVs in April, which is significantly more than the scant 151 units that the brand sold in March. It’s also more than the entire amount of Spark EVs that GM sold last year, or in 2013.

It’s also 15 more than the number of Volts that Chevy sold. Now that particular stat might not sound too impressive, until you realize that the Spark EV is sold in just two states: California and Oregon (sales are set to begin in Maryland by the end of June). The Volt, on the other hand, is sold in all 50 states. Talk about an upset…

What’s really crazy is that a whopping 864 of those sales were from retail leases, which represents a full 94% of the Spark EVs 920 sales. Annalisa Bluhm from Chevy communications confirmed to Autoblog that the company considered that number “simply insane.”

“In those states which offer Spark EV, you can get a 1LT Spark EV for less than a 1LT Spark, with more features,” said Bluhm. “Factor in that you will save approximately $82 per month by abstaining from gas, and it’s easy to see why people went crazy for the Spark.”

With the Chevy Spark EV doing so spectacularly on the west coast, does that mean that GM is considering expanding the electric vehicle’s market to include more states? According to Bluhm, the company has “nothing to announce yet,” but it would be surprising if the automaker didn’t take full advantage of this huge boon.

News Source: Autoblog