Update: Chevrolet Bolt EV Looks To Be Priced At $42,795, Rebates Up to $14,000 Available

FEB 26 2016 BY JAY COLE 70

Chevrolet Bolt EV In Toronto For The Canadian International Auto Show

Chevrolet Bolt EV In Toronto For The Canadian International Auto Show

While General Motors has stated that the upcoming 200 mile, 2017 Chevrolet Bolt EV will be priced from $37,500 in the United States, an odd set of circumstances has revealed it will be a bit more in Canada.

2017 Chevrolet Bolt EV To Receive $14,000 Rebate In Ontario

2017 Chevrolet Bolt EV To Receive $14,000 Rebate In Ontario

UPDATE (Sept 20th):  GM has priced the Bolt EV from of $42,795 plus a $1,600 destination freight charge – details.

And while the recent breakdown of the Canada dollar ($1.32 CAD = 1 US Dollar at time of press) means that is only equal to about ~$32,400 in US funds (a relative steal), to Canadians, that is still a lot of money, as their dollar was close to par just the summer before last.

Originally it appeared the pricing would be over $46,500 as that information came to us indirectly via a Chevrolet representative at the Canadian International Auto Show in February, as we asked him to walk us through Ontario’s newly augmented rebate plan as it relates to GM’s electrified vehicles.

“The MTO has said the 2017 Chevrolet Volt, now qualifies for $11,877 thanks to an additional seat.  The Spark EV only get $9,000 because of its smaller battery, and the all-new Chevrolet Bolt EV is the first to get the full incentive – $14,000 because of its battery and 5th seat.”

List Of Eligible GM Vehicles For Plug-In Rebates In Ontario, Canada (via MTO)

List Of Eligible Current GM Vehicles For Plug-In Rebates In Ontario, Canada (via MTO)

2017 Chevrolet Bolt In Toronto Last Week

2017 Chevrolet Bolt In Toronto Last Week

The new incentive program in Ontario increased rebates on plug-in cars from $5,000-$8,500 to a new maximum of $14,000.

Update (March 18th):  MTO has adjusted the rebate amounts to reflect the starting MSRPs of various trim levels (not just the base entry level offering) – meaning more dollars are available the more options are picked up.  The new/complete list is available to view here.

To learn how the program breaks down the criteria to arrive at a rebate amount, click here, but there is two pricing caveats that reveal minimum Bolt EV pricing:

  1. Vehicles with a starting MSRP between $75,000 and $150,000 are only eligible for $3,000 (we will call this the “Tesla rule”) and,
  2. “Purchase incentives are not to exceed 30% of the MSRP.”

With a confirmed $14,000 rebate available for the Bolt EV via the GM rep, that would mean the MSRP would need to be higher than $46,500 to fulfill the criteria of a 30% max rebate threshold.  We noted from February before  the announcement,  “We can still hope this is in reference to only a higher trim level, and that a base model may come under that result (and also have a lower rebate amount).”

The Bolt’s base price of $42,795, means it qualifies for a rebate of $11,361 in Ontario.

For Ontarians the pricing is still fairly inconsequential, as the Bolt EV will still be an accessible all-electric vehicle inside a conventional 36 month lease … perhaps ~$450 a month factoring in the government cash.

However with no federal plug-in incentive program, and no other province offering near the same rebate as Ontario (Quebec – $8,000, British Columbia – $5,000), with the other provinces essentially having none at all, the Bolt EV looks to be headed for some very unbalanced sales demographics in Canada.  In other words, Ontario is now Canada’s California.

Doing some napkin-back math, leases in Quebec will likely be around  a minimum ~$600/month , BC ~$700/month…with the rest of Canada saddled with a nearly ~$850 monthly payment.

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70 Comments on "Update: Chevrolet Bolt EV Looks To Be Priced At $42,795, Rebates Up to $14,000 Available"

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So we can expect a total cash price of $52545 (taxes included, no freight and pdi) minus the credit will make a minimum cash purchase price of $38545, I’ll be looking at the i3 or volt for my imiev replacement, maybe the model 3 will be a better bet, sigh more waiting

With the rear tail gate open the Bolt does not seem to show any tail lights.

The taillights are part of the tailgate.

yes and that is the problem, if you have the tailgate open and are on the side of the road changing a flat tyre there is no taillights or hazard flashers to see.

There are additional lights in the bumper.

But it would depend on what those rear bumper lights did, they look more like rear fog and reversing lights.
I can’t find any videos showing the rear lights working.

That’s way to expensive for 99 percent of canadien buyers,just Ontario will have great sales .

I would’ve agreed with you but seeing the level of interest in the trucks at the Toronto auto show worth 70,000+ changed my mind.

Some folks might need to prioritize. 🙂

Even in Ontario, this barely makes up for the 13% GST, which is added before the rebate.

Since foreign exchange itself is simply a method of devaluing personal labour, or theft, and lack of infrastructure still makes this a City car with more range, it is way too expensive!

Marcel Guldemond (@marcel_g)

I was wondering how the exchange rate was going to affect us. I’ve been very excited about the Bolt, but its main drawback, like the LEAF and the Soul EV, is a a complete lack of DC fast chargers in Ontario. If I want to travel from Ottawa to the GTA, I still have to use the train, or rent a gasmobile. I’m not sure if I can afford $450/month plus rentals, and it’s especially hard when teh current gasmobile is paid off.

I too might wait for the Model 3 because they have a fast charger network in place. I’m also going to consider the Mitsubishi Outlander PHEV because I can also take the family camping with it, and do longer trips without having to rent another car for those.

I guess you didn’t hear that Ontario has already announced $20M for charging infrastructure. The deadline for applications has already passed. By the time the Bolt is available in any significant volume, there will probably already be a number of new DCFC stations in place, leading to an ultimate total of around 100 stations by end of 2017 if I recall correctly.

All very true. Add to that GM’s anti-Tesla legislation and it makes for a hard sell in my view. Ill be pushing my parents towards a Model 3.

I bought an i3 REX and live in Ottawa. For the moment while the infrastructure is missing I think having REX for the odd long trip works well. Still, I hope we’ll get some fast chargers on the 401 corridor soon, as I’d love to do the Ottawa to TO drive all on electric.
Great $13K incentive available for the i3.

I suspected as much when I saw the announcement about the new incentives. With that 30% of MSRP cap it figures manufactures can raise the price, qualify for the full rebate and take the province for a bigger ride. The bigger the price though the higher the clawback in terms of the Ontario portion of the HST.

Ontario should waive its portion of the HST and get the feds to do the same.

The only positive here is that the model 3 will be in the same ballpark.

This article could have been written differently. Technically Canadians are paying a few thousand less for the Bolt than their neighbors in the south. But when you factor in exchange rates it’s more in the local currency – makes sense to me.

Not sure how you arrive at that. You are comparing after incentive price to pre – incentive price. In the US they have a $7,500 federal credit. That still makes the Bolt more expensive in Canada. Also, if you live in a state that has their own incentive (to properly compare apples to apples), then the Bolt is significantly higher in Canada.

That much money for a subcompact?!?!?
Bravo GM! What a great way NOT to sell BEVs!

Remember your comment when the Model 3 pricing for Canada is announced.

+10

It goes as well for the US. This small car is just too expensive to sell well.

Tesla said this about Model 3

“It’s about the size of an Audi A4”

A4 is a compact car.

Everyone loves to compare the Bolt to the Sonic, but given the size and features the Buick Encore is probably the best comparison and it’s only a few thousand more than the Buick but with more room and much better performance.

Wait until we see Model 3, maybe we will stop comparing apples with oranges 😉

The Bolt has about the same interior passenger space as the Model S.

Do you think Model 3 will have more interior passenger space than the Model S?

If not, then the Bolt will have more interior passenger space than the Model 3.

I guess Model 3 is equally too expensive “subcompact” according to you then.

It has more passenger volume then the Leaf. Fractionally more than a Model S even.

I look forward to all the much better offerings from Ford, FCA, Toyota, and Honda – all of which are surely in the pipe…

$625 – $900 monthly payment for a Chevrolet ! Are they nuts?

I see your point but… TCO is still very low for an EV despite the 900/mo. Then again I am paying close to that to OWN a Model S.

That is Canadian $… 1/3 cheaper than US$

What is your point? Canadians don’t earn 33% more, this car is damn expensive. As an example, the Dodge Viper has the exact same MSRP in Canada and the US, despite currency valuations.

Do you think the US built Tesla Model 3 will be sold for $35K US or $35K Canadian?

If Cad/US stays the same by the time it launches, you will be paying 1/3 more for sure…

Absolutely it will be more. That doesn’t change (or really have anything to do with) the original point, that the Bolt price as listed in this article is too expensive. A fact that you seem to want to argue based on currency valuations, which have nothing to do with car prices. Did you read any of Jay’s comments (or the article itself)? Do you think that Canadians earn 33% more than Americans?

The comment you replied to stated that the Bolt is too expensive, and it is.

Don’t forget you get $120 (net) a month in gas savings so you can put that against the cost of the lease.

I was ready to put down a $1,000 deposit on a BOLT last week , but I have since changed my mind and will wait for the Model 3TESLA because of what GM is doing to Tesla.

So sorry GM, as I am sure many others will be doing the same.

Yep. +1.

And we blame GM for setting the Bolt sales goal too low?

SparkEV has 19kWh (or 18.4 kWh), not 21kWh. That was for 2014 model only.

The collapse in oil prices has had increased the price of EVs (and everything else) in Canada.

Hmm, had another thought. Maybe this is an anti model 3 move. GM knowing that Bolt and 3 will have similar range/kwh figures to make the Bolt MSRP around the same as the 3 but then will discount and you still get the rebate. Tesla, as we know only sells at one price.

All signs point to production constraint with the Bolt. How could GM offer a discount?

How so?

So many EV supporters are already so anti-GM that they won’t buy the Bolt anyway.

I see no reason as the Bolt would be production limited.

EV supporters will not buy GM products just because they hate GM so much. So GM will be lucky to sell 30K Bolt in the first year.

The rest of population couldn’t care less what EVs are available.

The GM rep doesn’t seem to understand that the Spark qualifies for the bonus for larger batteries. Incredibly, only 16 kWh is required. The Spark rebate will be $13.000 or 30% of the MSRP, whichever is lower. The Ontario rebate program has been crafted to help Ontario manufacturers. Amusingly, GM’s Volt gets a bonus for its toy 5th seat, the Chrysler Pacifica to be made in Windsor gets credit for a “large” 16 kWh battery, etc. The only non Ontario manufacturer not discriminated against in Nissan thanks to the LEAF’s five seats. Otherwise, Ontario cut out Tesla, stuck a 30% caps on Smarts, and made the i3 ineligible for $1,000 bonus.

Only 11 Spark EVs registered in Ontario at the end of 2015, so no surprise that the GM rep was uninformed about them.

With a starting price of nearly $34,000 it’s no wonder. Great little car though.

SparkEV after subsidy, 34K-13K=21K (CAD), which is $15K USD. I wonder how much other cars sell for. Are they cheaper than $15K USD?

Why do people insist on bringing USD into the conversation. This article is about CDN dollars and pricing.

The correct math btw is:

34,000 x 13% sales tax – 9000

= $29,420

An i-MiEV is nearly $10,000 cheaper. A Leaf and a Focus EV can be had for thousands less.

To answer your question, ”are other cars cheaper than $15,000 US”? Yes. Plenty of cars. The Nissan Micra and the Mitsubishi Mirage both start around the $10,000 CDN mark. In fact, I believe the Mirage starts cheaper here than in the US BEFORE even considering currency.

Again, the Spark EV is a great car, but WAY overpriced here.

?Typo?

>Ontario is now America’s California<

might be better worded as

Ontario is now Canada’s California

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For EVLN EV-newswire posts use:
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I live in Ontario and 450 a month is to expensive for me. Not sure how many middle class families can.

I think everyone is missing the point. “Going green” now and beyond 2020 still will not be a middle class affordable vehicle. For now it will cost more money than their gas equivalent. Just wait once the price comes down the gov will tax electricity to make up for the lost revenue in gas attached road taxes. Elon is right “we have to stop burning oil and throwing it into the air we breath, if your not willing to pay more for that then your missing the point.