General Motors unexpectedly announced an average 18% price cut for the Chevrolet Bolt this week, making it the most affordable battery-electric vehicle on the U.S. market — while nearly offsetting the loss of the federal tax credits that GM experienced last year.
When the 2023 Chevy Bolt EV reaches showrooms, you’ll be able to buy one for as little as $26,595, including destination fees. The larger Bolt EUV will have a base price of $28,195, after the bowtie brand trimmed base prices by $5,900-6,300.
The move makes the hatchback version of the Bolt the most affordable battery-electric vehicle available in the U.S., undercutting the Nissan Leaf, which starts at $28,375.
There is a catch: Nissan products currently qualify for up to $7,500 in federal tax credits. However, the Japanese automaker is approaching the sales threshold past which those incentives will begin phasing out; GM’s giveback phased out last year.
But where the Nissan S model only manages 150 miles per charge, the Bolt EV delivers 259 miles and the more SUV-like Bolt EUV 247 miles. The 226-mile Leaf Plus starts at $33,625 with delivery fees.
![2022 Chevrolet Bolt EUV 2022 Chevrolet Bolt EUV](https://s3.amazonaws.com/images.gearjunkie.com/uploads/2022/06/2023-Chevrolet-Bolt-EUV-and-Bolt-EV-driving-700x467.jpg)
“This change reflects our ongoing desire to make sure Bolt EV/EUV are competitive in the marketplace,” GM said in a statement, adding that “affordability has always been a priority for these vehicles.”
All Fired Up
While GM was an early pioneer in electrification — introducing the original EV1 in 1996 — Bolt was its first long-range model when it debuted in 2016. It initially was powered by a 60-kilowatt-hour pack delivering 238 miles per charge. It got an upgrade to 66 kWh in 2020.
Unfortunately, Chevy was soon linked to a series of battery fires, which last year forced the automaker to recall 141,000 Bolt models built through early in the 2022 model year. It also ordered what turned into a 9-month production halt while it came up with a modified battery design. The BEV only went back on sale in March of this year.
And where Bolt was once the bestselling non-Tesla battery-electric vehicle, it has struggled to regain momentum since sales resumed, said Sam Abuelsamid, principal auto analyst with Guidehouse Insights, adding that this appears to explain why Chevrolet has cut the price on the two Bolt models now.
![GM’s plan to reach leadership in EV market share in the U.S. w 2024 Chevy Equinox EV](https://s3.amazonaws.com/images.gearjunkie.com/uploads/2022/06/2024-Chevrolet-Equinox-EV-driving-700x497.jpg)
![2020 Chevrolet Bolt EV 2020 Chevrolet Bolt EV](https://s3.amazonaws.com/images.gearjunkie.com/uploads/2022/06/2023-Chevrolet-Bolt-EV-charging-700x467.jpg)
Appealing to Entry Buyers
![2022 Chevrolet Bolt EUV 2022 Chevrolet Bolt EUV](https://s3.amazonaws.com/images.gearjunkie.com/uploads/2022/06/2023-Chevrolet-Bolt-EUV-on-beach-700x467.jpg)
GM’s Grand Transformation
![GJHummerEVTruckBryonDorr-0301 2022 GMC Hummer EV truck Edition 1](https://s3.amazonaws.com/images.gearjunkie.com/uploads/2022/04/GJHummerEVTruckBryonDorr-0301-700x466.jpg)