The 2023 Chevrolet Bolt EV Aims To Be The Cheapest EV On The Market
For 2023, Chevrolet’s cut the prices on its Bolt EV and Bolt EUV electric cars, by kind of a lot. Like, nearly 20 percent. As of right now, the 2023 Bolt EV could be the cheapest electric vehicle on sale.
Chevrolet lopped off $6,300 from the 2023 Bolt EUV, for a $28,195 starting price, including destination. The 2023 Bolt EV lost $5,900 from its base price, bringing it to $26,595, including destination. This seems to fly directly in the face of claims that rising lithium costs will likely cause EV prices to rise. Rivian and Lucid both have come under fire for price hikes, and some are concerned that future EV entries (like the Fisker Pear) won’t be able to make their price promises.
GM told several other outlets that the price adjustment is to make the Bolt EV and EUV more competitive in the market. Fitting, in the United States, GM had exhausted its EV tax credits. No GM vehicle is eligible for the federal $7,500 tax credit.
By comparison, the former cheapest EV titleholder, the Nissan Leaf starts at $28,425, including destination. This is for the base Leaf S, which is less powerful and can only do 149 miles, compared to the Bolt EV and Bolt EUV’s more than 240-mile range.
GM has big plans for the Bolt lineup, post recall. According to GM, the Bolt lineup will have the second-highest advertising spend of any GM vehicle on sale. Coupled with the lower price, this might just be the trick to rocket the Bolt EV and Bolt EUV to the top of the sales charts.
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Kevin has been obsessed with cars ever since he could talk. He even learned to read partially by learning and reading the makes and models on the back of cars, only fueling his obsession. Today, he is an automotive journalist and member of the Automotive Press Association. He is well-versed in electrification, hybrid cars, and vehicle maintenance.
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Wow - GM chose to swallow $6K to keep market share or is GM soaking up a loss here and using the profits from it's SUV's to compensate? (probably both) Either way selling SUV's must be mighty profitable for GM or maybe selling electric vehicles has a 20% profit margin?? either way no one sells anything at a loss for long. Hopefully this will lower prices all around for electric cars in the near future but most likely it'll have a negative effect on newly developed electric vehicles by other car companies trying to get into the EV game and we'll end up with mostly the same car companies selling us cars and no new tesla types in the future. For the consumer it's always about money so it's good in that regard but it just makes it a little harder for any other car company that had an opportunity to gain market share in the electric market as now why would you buy another brand if you don't have to wait on the 7k rebate vs. the saving immediately with GM? shrewd move GM, sucking up to the customer and screwing the newer competition in one PR positive announcement. Thank goodness Tesla had the right timing or we'd still be hearing that BEV were still too expensive or impractical.