Chevy Bolt EV, Bolt EUV Buyers To Get Retroactive Discount

by Sam McEachern
— Jul 1, 2022

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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.

“A small number of Bolt EV and EUV customers purchased their vehicles in 2022 calendar year, when incentives were low due to limited inventory. As a result of the price reduction announced on the 2023 Chevrolet Bolt EV/EUV, we want to make sure these customers are satisfied with their purchase and ownership experience,” Chevy said in a prepared statement that was provided to Automotive News. “We will be reaching out to them in the coming weeks to inform them of a goodwill program that will provide reimbursements to make up the price difference.”

GM was unable to provide AN an estimated reimbursement amount, as the figure will change based on how much the customer paid for the vehicle, the trim level and other related factors. Customers who leased their vehicle will not be eligible to receive a discount.

The price drop applied to the Bolt EV and Bolt EUV comes in the way of a Purchase Cash Allowance. Buyers of the Bolt EV will get $5,900 knocked off the price, while Bolt EUV buyers are entitled to $6,300.

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.

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