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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.

Toyota tops Kelley Blue Book's Resale Value Awards

Kelley Blue Book announced its annual Best Resale Value Award winners, and we weren't too surprised to see the list dominated by Japanese automakers - mainly Toyota and Honda. KBB hands out the awards based on the projected residual value of mostly all 2013 model year vehicles, and Toyota skated home with a number of awards including 10 of the 22 overall categories and having five of its products in the top 10 for models with best resale value. KBB's Best Resale Value Awards were announced in the same week as the ALG Residual Value Awards, and there were many similarities between both lists, especially when it came to Toyota.
To come up with its winners, KBB measures depreciation over the first five years of ownership, and looks for the cars it expects to hold its value the best after this time; on average, the report says the 2013 model year vehicles will lose 61.8 percent of its value in five years. Of the 22 categories, 15 slots were filled by Toyota, Honda and Nissan products, while the Camaro and Porsche (Cayenne and Panamera) each took home a pair of awards. If Toyota has anything to be upset about in this list of cars, it's that categories for Hybrid/Alternative Energy Car and Electric Vehicle went to the Ford Fusion and Chevrolet Volt, respectively.
The overall top 10 models for the best resale value in 2013 are, in alphabetical order:

2016 Chevy Volt to make auto show debut this season

Ever since we saw that spy shots of the 2016 Chevy Volt, we've been hungering for more information on the next-gen version of GM's green halo car. It appears we might not have long to wait, at least for an official tease. An inside source that wishes to remain anonymous told AutoblogGreen that GM will make two announcements regarding the second-gen Volt at the CAR Management Briefing Seminars in Traverse City, MI next week. The first, and most intriguing, is that that we will get our first glimpse of the new Volt at some point during the upcoming auto show season. That means either Los Angeles later this year or else Detroit, Chicago or New York in early 2015. The second bit of news is that GM will be moving production of the electric motors from Mexico to Michigan. Details and official confirmation are, of course, missing and Chevrolet declined comment to AutoblogGreen. We should know more next week.