Chevy Sparks Price War With New Electric Car
General Motors (GM) revealed Thursday that its newest electric vehicle, the Chevrolet Spark, will cost 38% less than the larger Volt hybrid, beating most of its competitors on price.
The Spark will sell for as low as $19,995 after taking into account a federal tax credit of $7,500, the automaker said. Chevrolet’s Volt, which launched in the fall of 2010, sells for about $32,500 including the tax credit.
When the 2014 Spark EV goes on sale next month in California and Oregon, it will become one of the least expensive electric cars on the market. Nissan’s all-electric Leaf has a price tag of $28,800 before federal tax savings, while Toyota’s plug-in version of its Prius starts at $32,200.
California residents who purchase the Spark EV could qualify for an additional $2,500 in state tax cr
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