Chevrolet increased pricing on the Bolt EV and EUV by $900 and $600 respectively. The midyear price increases come mere months after Chevy dropped Bolt EV and EUV prices by $5900 and $6300 in June, making them the cheapest EVs in the United States for 2023.It’s a shame Bolt prices are trending upward once more, but both vehicles remain enticing with the massive price cut in June, and with both vehicles qualifying for the full $7500 tax credit for EVs until at least March.
Decision making can be tough, but it is still odd that after deciding in June it would dramatically reduce pricing for the Bolt EV and EUV—cutting them by roughly $6000 each—Chevrolet would decide barely six months later on a midyear price increase. Granted, the increases are small: the Bolt EV is going up by $900, to $27,495, and the EUV’s price is increasing by $600, to $28,795.
Marc Urbano|Car and Driver
According to a statement by a Chevy representative, “Due to ongoing industry-related pricing pressures, the Chevy Bolt EV and EUV will see modest price increases starting in 2023, but we expect it to remain America’s most affordable EV. Chevrolet remains committed in its long-standing role to provide true value. We expect to continue building the record sales momentum we saw in 2022.”
Due to an odd loophole in the recently passed Inflation Reduction Act where the IRS has failed to issue clarification of sourcing provisions, EVs including the Bolts have become eligible for a full $7500 tax credit again as long as the total price stays under $55,000—not an issue with the Bolts—and buyers take delivery before March, when the IRS plans to release the new proposed guidelines. Even taking into account the most recent price increase, the 2023 Bolt EV and EUV are thousands cheaper than they cost in the last model year. Adding in the renewed $7500 tax credit, we suspect Chevy will have very healthy sales figures between now and March.
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