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.
Coincidence? Perhaps.
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.
Comments
the guy trying to sell that $23K wrecked bolt isn’t going to be happy when hears about this.
Exactly what I was thinking. I did a little math on that, and even at regular pricing, after the federal tax incentive and California rebate (where I live, and where that car is located) it only came out to be like a $2,500 advantage, compared to a literally brand new car that actually has a warranty…
The Tesla looks super slick, it’s great looking whereas the Bolt looks like an econo-box… GM is freaking clueless… I mean which one would ANYONE want to drive? GM would totally “cheap down” their offering with brilliant ideas like fixed windows that don’t roll down, no back seat, crap upholstery, deleted: radio, AC, stamped painted wheels, etc…. Typhoid Mary says GM and Cadillac are going to lead the PHV/EV in the future and they cant get this right?
Can they seriously give customers MORE vs 80% in every category… they do nothing right except try to boost their short term stock prices….
Alex,
But why?
I thought California couldn’t get enough of them
Why are electric vehicles out of favor?
W, I’m a bit confused as to what exacltly you mean? Perhaps you might have taken my comment out of context, I was referring to Steve’s comment about the rebuilt Chevy Bolt from an earlier article that was for sale for 23k. What I meant was that even at MSRP pricing, there wasn’t much savings for the salvage title car versus a brand new one. Now with the discounted new ones, the rebuilt one won’t be able to compete, and neither will any other ones on the used market, as now the new cars are even cheaper than used after incentives (sub $20k for a base model).
I’m actually awfully tempted to get one since they are discounted so much… but I might wait to see how the used market reacts and if they come down in price too.
I don’t think I asked my question well.
I’m shopping Bolts priced by California dealers at $10,000 off MSRP. Then (and I believe you have to buy before April 1, 2019) you would get a $7,500 tax credit. So I’d have a Bolt for about $21,999 – that’s a Los Angeles area Chevrolet dealer. I’ll fly to California for that.
I’m just wondering how it can be in the California market that they are so discounted.
In area of Texas some dealers continue to post MSRP as their price.
I guess my question remains, what happened to the California market for electric cars?
W, I think it’s just because the market is much more competitive here in California. There’s more offerings for EVs than in other parts of the country, therefore more cometition, and more people are buying/leasing EVs (nearing 10% of new cars). It might be that in other parts of the country there’s less pressure than here in California where Tesla has such a big presence. The fact that they announced the $35k Model 3 is a big deal to a lot of people who have been waiting for it, and who will now no longer have to “settle” for the next best thing.
Personally I think (and a lot of other people as well) that between the Bolt and the Model 3, the Model 3 is a very much superior car, performance, charging, tech, looks, all for a lower price (when compared to MSRP pricing for the Bolt).
I think that discounted pricing is the only way cars like the Bolt, Leaf, etc. can continue to compete unless they can up their game with the next generation, which is likely more than a couple years away. I’m curious to see how Kia/Hyundai’s offerings will do, since they are a more spacious, have pretty quick charging, and better range than M3 or Bolt. Although their announced MSRP pricing is a tiny bit higher, and it sounds like they are going to be limiting production.
Anywho, to get back on track here, I think it just boils down to the fact that because the market is bigger in in California, it just makes it more competitive, so there are often better prices than other places.
Right now there’s about 1/2 a dozen bolts within 50 mi of me (North San Diego county) for less than 28k. That would be 20.5k after the full tax incentive (which you’re correct, it gets cut in half on Apr 1, however I probably can’t claim the full 7500 since I don’t have that big of a tax burden), then there’s an additional 4K incentive as well, which you wouldn’t qualify for since you’re out of state, but Texas does have a 2,500 rebate, so it could be an 18k car for a base model for you. I think it would be well worth the trip if you wanted to get one, or even purchase one and have it shipped (which might be the only way the get out of CA sales tax anyways).
Thank you for your very comprehensive reply. This would be an outstanding time to buy a Bolt. I may do so.