The Chevy Bolt, America’s Cheapest EV, Gets A Price Hike

It’s still one of the best deals on the market, though.

By: Iulian Dnistran

Jan 4, 2023 at 3:22am ET

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General Motors increased the starting price for the 2023 Chevrolet Bolt EV and Bolt EUV, upping the MSRP to $26,500 and $27,800 respectively.

In other words, the Bolt EV’s price increased by $900, while the Bolt EUV’s base price is $600 higher than before. On top of that, both models are subject to a $995 destination charge, but this was applicable in the past as well, so there’s no change here.

GM’s announcement comes six months after it lowered the prices of both EVs by a massive $6,000, making them the cheapest new electric cars you could get in the United States. But even with this latest price increase, the Bolt is still the cheapest, with the next EV price-wise being the base Nissan Leaf, which starts at $28,040.

The Chevy Bolt was and still is one of the best deals out there, with its low price, decent range, and roomy cabin with modern interior amenities like wireless Apple CarPlay/Android Auto. You can read more about it in Motor1.com’s review of the 2022 model if you want to learn all the details.

Additionally, the Bolt is now eligible for the $7,500 federal tax credit, if its purchase price is lower than $55,000, but this shouldn’t be a problem, seeing how a fully-loaded Bolt EV costs less than $35,000.

Gallery: 2023 Chevrolet Bolt EV

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In a statement emailed to Electrek, GM says it expects the Bolt to “remain America’s most affordable EV.”

“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,” the company said.

The Chevy Bolt was introduced in 2017 as an affordable all-electric hatchback, and for the 2022 model year, it received a design refresh. But it hasn’t been quite the smooth rollout GM was probably hoping for, as the Bolt was the subject of two massive recalls that replaced faulty batteries which could catch fire.