The first Chevrolet to go on sale in 1913 was a $2,500 Classic Six, and it faced stiff competition from Buick and others in the small quality-car market.
In 1914, Chevrolet cars were redesigned to compete with Ford and other makes vying for the low-priced market, which comprised working class and middle-class Americans. The Royal Mail and its larger companion, the Baby Grand touring car, were the first Chevrolet cars priced under $1,000.
http://gmauthority.com/blog/2014/03/the-evolution-of-the-chevrolet-bowtie/
http://amhistory.si.edu/onthemove/collection/object_1322.html
the 1915 Model 490 sold for $490 to compete with the Model T's low price. Like the Model T, the 490 was offered only in black, had only one door on the left and initially had a 20-hp, four-cylinder engine. There wasn't a single bright part to keep clean, one magazine said of the 490.
http://www.autonews.com/article/20111031/CHEVY100/310319999/the-490-made-chevy-a-bargain-player
Prices increased from $490 for 1916 and kept rising afterwards, but the model name was never changed :-)
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