General Motors Co.

said Thursday its 2014 Chevrolet Spark EV will start at $27,495 and will cost less than $20,000 after factoring in a $7,500 federal tax credit available for electric vehicles.

The Detroit automaker also will offer its Spark EV 1LT for as low as $199 a month in a 36-month lease, with $999 due at signing. The monthly payment matches what competitor Nissan Motor Co. is offering with its Leaf S model and is slightly less than the starting sticker price on the Leaf, which has had a sales increase in recent months.

GM spokesman Kevin Kelly said the automaker wanted to make sure the Spark EV was competitively priced with all electric vehicles on the market.


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Chevrolet Prices Spark EV Under $20,000 After Tax Credits

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