GM applied significant price cuts to the Chevy Bolt EV and Bolt EUV this year, lowering the price of both vehicles by roughly $6,000. In light of this significant price drop, GM has decided it will give retroactive discounts to customers that purchased a Chevy Bolt EV or Bolt EUV earlier this year, when the two models were selling for significantly more due to price structure and demand.
The American automaker sent a letter to dealerships this week informing them of the new discount program, which applies to 2020, 2021 and 2022 model year Chevy Bolt EV and 2022 Chevy Bolt EUV vehicles, as long as they were purchased in 2022.
GM sold just 358 examples of the Bolt EV in the first quarter of this year, down 96.03 percent year-over-year. This drastic drop in sales volume is due to the battery fire recall and subsequent stop-sale campaign that was active for both models, which prevented GM from marketing or selling either the Bolt EV or Bolt EUV. GM restarted production of both models at its Lake Orion plant in Michigan in April.