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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.

2016 Chevrolet Camaro: Notes from the reveal

The 2016 Chevrolet Camaro debuted Saturday evening in Detroit at an enthusiast-oriented event near the city's IndyCar course. While the big news was the Camaro's 200-pound weight loss, tighter chassis, and a snorting new V8, plenty of other morsels of Camaro info came out. Here's some of the more interesting stuff we heard. • The 2.0-liter inline four-cylinder is the first turbocharged engine in a Camaro. • The LT1 borrowed from the Corvette Stingray marks the third time a Camaro has used an engine with that badge. It was previously used in 1970-72 (Z/28), 1993-97 (Z/28), and 1996-97 (SS). • The Camaro was revealed in a tent before nearly 1,000 enthusiasts, General Motors executives (including CEO Mary Barra) and mere feet from the Grand Prix course where IndyCars will run in two weeks. • Chevy hopes to continue to attract new customers with the Camaro and said 63 percent of the fifth-generation buyers were new to the brand. • GM product boss Mark Reuss neatly summed up the Camaro's handling character. "It's wicked fast and extremely nimble." • Reuss on the design goal: make it "look like a car for tomorrow instead of a car from yesterday." • Reuss' first car was a 1967 Camaro, and he's reiterated his passion for the car. "People want to be seen in a Camaro, and that never goes away." • Chevy North America president Alan Batey said he plans to line up a red Camaro as soon as the order bank opens. We assume he'll have early access to that. • Though the appearance is similar, the sixth generation of the Camaro appears a little sleeker and is more aerodynamic thanks to 350 hours in the wind tunnel. Only two parts, the SS badge and the rear bow-tie emblem, are carryover. • Al Oppenheiser, the Camaro's chief engineer, said most of the options (except Magnetic Ride Control, which is SS exclusive), will be offered on the inline four. The engine will be capable of propelling the Camaro to a sprint to 60 miles per hour in well under six seconds. "We don't want to ... make it feel like an excuse car," he said. • Without revealing specifics, Oppenheiser said every Camaro variant will be faster than the model it replaces. •The interior is vastly improved. We got an up-close look in the cabin of one of the cars revealed with a red and white layout, and the materials are much better. The setting is more colorful, and 24 different ambient lighting shades are available. Related Video:

Drivers buy new $300K McLaren 720S, 2019 Chevy Corvette, and wreck 'em

Two high-powered, high-priced sports cars, wrecked in their infancies. No doubt they were fun while they lasted. In Great Falls, Va., a tony suburb of Washington, D.C., that hugs the Potomac River, someone was out enjoying driving the McLaren 720S they had purchased only the day before on a leafy, two-lane road. Then, horror: In an instant, the car hit a tree, mangled and destroyed "because of speed," according to the Fairfax County Police Department. Purchased Friday. Totaled Saturday. This McLaren 720S, costing around $300,000, was destroyed today in Great Falls because of speed. The driver was taken to the hospital with thankfully only non-life threatening injuries. A reminder to slow down, or it could cost you. pic.twitter.com/XhC3LKRY1t — Fairfax County Police (@FairfaxCountyPD) July 14, 2018 Then on salvage auction site Copart, a brand-new orange 2019 Chevrolet Corvette Grand Sport lies in a warehouse in Lincoln, Neb., its front left corner crushed, wheel askew. It had just 15 miles on the odometer. We know nothing of the backstory, except for the obvious front-end damage and secondary damage to the undercarriage. The rear end and 6.2-liter V8 engine, which makes 460 horsepower and 465 pound-feet of torque, look OK. The most current bid as this was published was just north of $9,000. It's tempting in both cases to assign the blame to over-eager drivers who weren't quite yet able to corral all that power. In the case of the McLaren, the supercar makes 710 horsepower and 568 pound-feet of torque from its quad-cam, twin-turbo 4.0-liter V8. It goes from 0-62 miles per hour in 2.9 seconds and boasts a top speed of 212 mph. We're not saying the unidentified driver was a newbie, but this car is definitely not for newbies. Police write that the incident is "A reminder to slow down, or it could cost you." As in, $300,000. Or at least the depreciation for driving it off the lot. Related Video: