General motors in the month of April had their sales increase for their Chevy Spark EV, an electric Car that has been shadowed by other great cars on the car market. The Chevrolet Company surpassed the old sales record for the car from 200 in May 2014 to 920. The production and release of high profiled electric cars like Chevy Volt plug-in hybrid, Nissan Leaf and Tesla greatly affected the popularity of the Chevy Spark EV. This brought about the car’s low supply and demand in the electric car export business. Spark EV has only been sold in states like California, Oregon and more recently in Maryland.
The fame of a car significantly influences the car valuation because if many people drive it, the prices are automatically increased by the carmaker to get more profits hence increasing the car purchase price. In April, General Motors reduced the price of the Spark EV by $1650 to a lower price causing the drastic jump in April sales number. In cases where taxes are excluded, the car can be as low as $15000. The car can also be leased for $139 per month with a sign –and-drive lease for 39 months with $0 due at lease.
This is an eye-opener to the Tesla the kind of stiff competition it will face when the company unveils the Model 3 though the Spark EV merely competes with the Tesla model S price. The estimate car price of the Tesla model 3 will be $3500.
The Chevrolet Bolt is set to replace the Spark EV which will be highly modified in terms of performance, speed and comfort among others. This car is dated to be released in the year 2017 delivering 200 miles of range with a car price of $37500 according to General Motors. Though with federal tax credit, the price reduces to $30000.The 2015 Chevy Spark can travel 82 miles on a single charge which is the same as the pure-electric Nissan Leaf.
