Scion’s iQ mini car can be leased for a bargain $99 per month. Scion wants to increase deliveries as the segment becomes more competitive, especially with rival Chevrolet Spark getting a good start. The two cars are marketed similarly. They appeal to buyers who want an entry-level car. The automakers hope that they later opt for a bigger purchase.
But then, the sales trends of the two brands are very different. So far, Chevrolet has sold over 4,800 Sparks in the U.S. since its launch in late July. Since January, Scion has sold nearly 6,200 iQs. But for the month of September, it only sold 548 units.
Presently, the micro car is offered through a 36-month lease that costs $99 per month with $1,969 to be paid at signing. Chevrolet Spokesperson Annalisa Bluhm couldn’t help but be smug when said that the Spark is “eating [the iQ] for lunch.”
Scion isn’t about to surrender yet though. It said that the affordable lease program isn’t in reaction to the stronger sales of the Chevrolet. Rather, Scion representative Craig Taguchi said that the lease will allow many people to get the chance to experience the iQ.
Another issue is the price. The Spark has a starting price of around $13,000 after delivery while the iQ is priced at higher than $16,000.