Low gasoline prices have made it less and less appealing for consumers to spring for an electric car or a hybrid, and that seems to be why some carmakers are now reducing the sticker prices of their “green” vehicles. Just as Cadillac announced the 2016 ELR will be $10,000 cheaper than its predecessor, another General Motors brand – Chevrolet – announced that it will be selling the 2015 Spark EV at only $26,820. And that’s before tax credits come into play.
With tax credits taken into account, the new Spark EV may cost in the neighborhood of $15,000, making it an extremely affordable electric car in a market where other automakers have cut prices. Aside from Chevy and Cadillac, Ford also announced that it is lowering the price of its 2015 Focus Electric to $29,995 (before tax), down $6,000 from before. And the trend isn’t just confined to American cars, as the Mitsubishi i-MiEV recently got its price reduced by $6,130, dropping it to $23,845 before tax rebates kick in. As for the Spark EV, this is the second time it’s gotten its sticker price cut, as the car’s price was reduced by $5,000 in 2013.
Buyers can also choose to lease a Spark EV at $139 per month for 39 months, with no money down required at signing. That makes it a more affordable option than the competing Fiat 500e and Kia Soul EV, the former costing $139 per month for 36 months with $1,999 down, and the latter priced at $249 per month for 36 months with $1,999 down.