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GM drops price of Spark EV to $25,995; lease to $139/month

The drive to lower EV prices continues. GM announced today that the base model 2015 Chevy Spark EV 1LT would get a price cut to $25,995. That's $1,500 less than it used to be but the bigger news might be the lowered lease price. Instead of $199 a month, all that Chevy is asking for to get you into an all-electric Spark now is $139 a month (39 months, with no money due at signing), down from the 36-month, $199-a-month lease cost with a $999 down payment. Sadly, the number of states where the Spark EV can be bought is almost as small as the lease payment: the car is available only in California, Oregon and Maryland (well, Maryland won't be ready until the summer). GM is doing more than just lowering the MSRP. On top of the federal and state tax incentives available, GM is offering bonus cash in all three states ($1,000 in California, $1,200 in Maryland, and $3,500 in Oregon). If you're wondering why those numbers vary so much, take a look at the already-available state EV incentives in play: California offers $2,500 and Maryland $2,300. Somehow, they all balance out. If you do some addition with the $7,500 federal tax credit, you see that the Spark EV can be had for $11,000 off the MSRP no matter where you buy. If you qualify for everything, $14,995 is a darn good deal for an EV, especially one as fun as the Spark. Related Video: 2015 Chevrolet Spark EV Repriced to Offer Greater Value As low as $14,995 after full federal and state tax credits and Chevrolet Bonus Cash 2015-04-14 DETROIT – Chevrolet announced today Spark EV 1LT's new manufacturer's suggested retail price would start at $25,995. Depending on an individual's tax situation, the Spark EV is eligible for federal tax credit up to $7,500. "Chevrolet is committed to making EV driving more accessible, affordable and fun" said Steve Majoros, director of Chevrolet Car and Crossover Marketing. "The Spark EV is already the most efficient – and one of the most affordable – EVs you can buy. 2015 Spark EV customers will benefit from an impressive blend of technology, capability and low cost of ownership, now at an even more impressive price." California and Maryland Spark EV owners may also qualify for a $2,500 California state rebate or $2,300 Maryland excise tax exemption. Additional Chevrolet bonus cash is also available: $1,000 in California, $1,200 in Maryland, and $3,500 in Oregon. After full federal and state tax credits and Chevrolet bonus cash, the Spark EV could be as low as $14,995.

How two-state Chevy Spark EV outsold 50-state Volt last month

Is it really just about price? Last month, the Chevy Spark EV got a sizable price drop of $1,500 alongside a lowered lease price of $139 a month (down from $199). Those numbers, particularly that cheap lease, had a tremendous impact on how many all-electric Sparks GM sold last month. There were 920 Spark EVs sold in April, and the Spark EV is available in only two states: California and Oregon. Sales will start in Maryland in the third quarter of 2015, but there are no pre-orders taking place there, so all 920 were West Coast sales. To be more precise, there were about 864 Spark EV leases signed last month, since 94 percent of those 920 sales were retail leases. As Annalisa Bluhm from Chevrolet communications told AutoblogGreen, that level was, "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" Bluhm said. "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." Let's put 920 into perspective. For one thing, it's crazy up from the 151 Spark EVs sold in March 2015 and the 97 sold in April 2014. It's also almost as many as GM sold all last year, and way more than two years ago. The General sold 653 Spark EVs in 2013 and 1,146 in 2014. To throw in a comparison with GM's longstanding plug-in champion, the aging Volt, the Spark EV came out ahead in the monthly tally for the first time ever. In April, the Volt sold 905 units. The plug-in hybrid's best-ever sales month was August 2013, when it sold 3,351 units. Counting all models and powertrains, Chevy sold 3,743 Sparks in April. So, does this success mean that Chevy is looking to bring the Spark EV to more markets? Bluhm said that GM is considering other states and is always looking at the business case, but has "nothing to announce yet." Related Video: The video meant to be presented here is no longer available. Sorry for the inconvenience.

Chevy trademark for E-Ray may signal Corvette hybrid or EV

A spy photographer and friend of Autoblog Chris Doane spotted this trademark filing with the US Patent and Trademark Office, and there's not much to it: Chevy is calling dibs on the "Corvette E-Ray" name, and that raises more questions than answers. Being obsessed with this industry is an Autoblog core value, and Corvette is perennially a big deal. It's also historically, and famously, resistant to change. So what's going on here? Unless it's a pure show car, it's unlikely the E-Ray will be a C7-based hybrid. The current Corvette is a tightly-packaged thing, and batteries are bulky. That makes a concept of some sort all the more likely, especially with the Detroit Auto Show coming up. Unconstrained by the packaging of the real-world Stingray, this E-Ray concept may be a pure EV, or a hybrid, of any configuration. GM has built mid-engined Corvette concept cars in the past, and maybe we'll see one again in a few weeks. A gutted C7 with a pure EV drivetrain is also a remote possibility, although less likely – the Stingray wasn't engineered with that in mind, and we think GM's too big to show off a hack-job at a major auto show. Not that it is a Corvette competitor, but don't forget that the Tesla Model S P85D and it's P90D successor have taken pure EV performance into the mainstream – the upper end of the mainstream, to be sure. It has been enough to draw industry performance players into the genre. Look at Aston Martin's production-possible RapidE concept, a pure EV, and the confirmed-for-production Porsche Mission E. We've heard rumblings in the past that Corvette may become a marque unto itself, spawning a variety of variants (including the hypothesized mid-engined production car – don't hold your breath). Perhaps the gas-powered C8, in whatever form it takes, will be complemented with a greener version. We'll try to dig up insider information about what the E-Ray will reveal itself to be, but rest assured that if it shows up at Detroit we'll bring you analysis of every inch of it.Related Video: Featured Gallery 2016 Chevy Corvette Z06 C7.R Edition View 9 Photos Tip: Chris Doane/Facebook Green Rumormill Detroit Auto Show Chevrolet Electric Future Vehicles Hybrid Performance corvette stingray