Significant Price Reduction Repositions Entry-Level EV
Chevrolet announced this week that its 2023 Bolt EV and Bolt EUV are going to get major drops in price. The intention is to make the company’s two electric car offerings more attractive to consumers, especially those that are looking for an affordable alternative to a gasoline-powered car.
The new 2023 pricing (2022 pricing in parenthesis) includes the mandatory $995 destination fee.
Bolt EV $26,595 ($32,495)
Bolt EUV $28,195 ($34,495)
These big price reductions, $5,900 for the Bolt EV and $6,300 for Bolt EUV, makes them more competitive as Chevrolet no longer qualifies for the federal $7,500 tax credit. But it is more than that. Other than the price drop, the 2023 models are carryovers from 2022, when they were given extensive updates.
More EVs Coming
In 2023 Chevrolet is launching the all-new, all-electric Equinox, Blazer and Silverado models, which need to have a price differential from the Bolt models. As Chevrolet—and the other General Motors divisions Cadillac, GMC and Buick—launch additional electric models, it becomes an overall marketing and sales positioning strategy so these electric vehicles don’t get in each other’s way. At this price point the Bolt will be able to be positioned against other small EVs—such as the Kia Niro and Nissan Leaf, rather than its brand siblings.
Chevrolet has another reason for the new aggressive pricing: they are playing catch-up. In August 2021 Chevrolet stopped production of both models as there was a battery recall. During the past several months Chevrolet has been contacting owners of 2017- 2019 Bolts to have their 60 kilowatt-hour batteries replaced with larger, more efficient 65 kWh batteries. This process is ongoing, but production of the 2023 models has once again begun at the Orion Assembly plant in Orion Township, Michigan.
Clean Fleet Report has reviewed the Bolt EV and Bolt EUV several times and one staffer put his money down to live with a Bolt for three years (story links below). If you are in the market for an attractively priced four-passenger EV that is rated at about 250 miles of range, visit your local Chevrolet dealer and take a test drive.
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Story by John Faulkner. Photos by Chevrolet.
Some of Our Time in the Bolt
Flash Drive: 2022 Bolt EUV
Road Test: 2020 Bolt EV
Take Two: 2020 Bolt EV
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Personal: Farewell to My Chevrolet Bolt EV
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Personal: Two Years with My Chevrolet Bolt