Chevrolet announced Tuesday that it is cutting the price of its 2015 Spark EV in order to improve sales and get more drivers interested in its electric cars.
The $1,650 price cut brings the price down from $27,645 to $25,995, according to Green Car Reports. The Detroit-based automaker will also offer up to $3,500 of extra cash to reduce the cost.
The Spark EV is currently only sold in California, Maryland and Oregon, where Chevrolet will offer an additional $1,000, $1,200 and $3,500, respectively.
Federal and state tax credits bring the Spark's cost down as low as $14,995, USA Today reported. The all-electric vehicle will also be available for lease at $139 a month for 36 months, with no money down.
Chevrolet global marketing boss Tim Mahoney spoke to members of the Washington Automotive Press Association about the price cut in Arlington, Va., on Tuesday. He didn't specify how well the EV performs financially, but he said its "ability to draw new customers to Chevrolet is a major consideration."
Those who buy the EV will also be eligible for a federal tax credit of $7,500, USA Today reported. Chevrolet is also making owners in California and Maryland eligible for high-occupancy (carpool lane) access when driving by themselves, which Mahoney referred to as "a very important consideration" for urban drivers.
