Last week, after what’s felt like an eternity, Tesla finally introduced the $35,000 Model 3 it promised all those years ago. Tesla said production would start this month, though volume production would not happen until mid-year. While it will take some time for the $35,000 Model 3 to reach customers, it appears Chevrolet dealerships are taking a proactive approach to a new competitor. InsideEVs found several dealerships are heavily discounting the Chevrolet Bolt EV.
A quick search of Cars.com found several Chevrolet Bolt EV examples advertised well below their MSRP. Some Bolt EVs are even advertised several thousands of dollars below $30,000, which is a steal for the electric hatchback that has a starting price of $37,495. While a cheap Chevrolet Bolt EV is enticing, your local mileage may vary as dealerships are free to price and advertise their vehicles as they wish.
The dealership discounts come as General Motors raised the starting price of the Chevrolet Bolt EV Premium by $115. The base LT Chevrolet Bolt EV kept its $37,495 starting price, which includes the destination charge and fees. However, sales for the electric runabout were abysmal last year compared to 2017 sales. In 2017, Chevy sold 23,297 Bolts. In 2018, sales dropped 22.66 percent to 18,019. Sales of the Bolt EV outside the U.S. are up in Mexico and South Korea, but down in Canada. GM sold 519 Bolt EVs in those three foreign markets.
It could be the time to buy a Chevrolet Bolt EV. Increased competition arriving at a time when overall EV sales are on the decline makes this space a prime buyer’s market, and that’s to say nothing of the used EV market. Even so, General Motors is preparing to flood the EV market with a slew of new vehicles in the coming years. The automaker is expected to release 20 new electric vehicles by 2023, with a new electric Cadillac riding on a new scalable architecture leading its EV efforts.