Given the recent announcement that the U.S. Treasury’s EV tax credit guidance will be delayed a few months, it’s possible that a few GM electric vehicles may be eligible for the full $7,500 federal EV tax credit. For some vehicles, like the Chevy Bolt EV, this could result in substantially higher levels of affordability.
The 2023 Bolt EV gets a nearly $6,000 price decrease for the new model year, resulting in a starting MSRP of $26,595, including the destination freight charge (DFC), in base 1LT trim. Now, if the Bolt EV ends up qualifying for the full EV tax credit in January and February 2023, then Chevy’s small EV would become even more affordable via the $7,500 federal income tax credit. If we subtract this $7,500 from the vehicle’s base price, then it would have a theoretical “all-in” price of $19,095, and that’s before any additional electric vehicle incentives, with availability differing by state. That’s also before any taxes or registration fees.
So what does a sub-$20K Bolt EV get you? The 2023 Bolt EV outfitted in the base 1LT trim features an estimated 259 miles of range, as is the case for all Bolt EVs. Additionally, the base model also receives standard Chevy Safety Assist, and Apple CarPlay/Android Auto compatibility. The all-electric subcompact hatchback rides as standard on 17-inch Silver-painted aluminum wheels, features a 120-volt portable charge cord, and dons a Jet Black interior colorway with cloth seats.
For prospective buyers of the 2023 Chevy Bolt EUV, it’s much of the same story. Factoring in the same $7,500 EV federal income tax rebate, the 2023 Bolt EUV’s “all-in” price in base LT configuration would drop from $28,195 to $20,695, before taxes and fees.
As a reminder, both the 2023 Chevy Bolt EV and Bolt EUV utilize a single-drive electric motor, which produces 200 horsepower and 266 pound-feet of torque. The motor is fed by a 65 kWh lithium-ion battery. As for structure, the Bolts ride on the GM BEV2 platform, while production takes place at the GM Lake Orion plant in Michigan.
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Comments
That’s nice but I still think EVs should sell on their own merit and tax payers should not have to subsidize them.
They would need to apply an extra EV tax because they currently don’t pay fuel taxes.
Except in many states they do, as EV owners are charged an extra fee. In addition, fuel taxes only cover about 1/2 the cost of road maintenance, and the rest is covered through other taxes and fees. So EV owners are contributing.
ICEV owners/drivers dont pay for wars in Iraq, Persian Gulf, Afghanistan. ICEV owners dont pay hubdreds of billions of dollars in direct and indirect subsidies of oil companies. All car owners don’t pay for the hundreds of billions of dollars of car infrastructure subsidies. In a fair fight, cars and planes lose to electric trains and buses.
Some states do charge more for licensing evs. Usually more than you would pay in road tax. Here in Fl we don’t pay extra but several bills have been introduced to increase registration fees on evs to put that money into road construction and maintenance. As an ev driver I agree that we should have some mechanism to contribute to roads. A per mile rate for all vehicles would be the most equitable way to do this.
yes and i think they should raise the tax on your home
ICE vehicles should sell on their own merits, with fees levied against them for the pollution and healthcare costs they cause, and oil companies should not be getting subsidies and tax breaks, and they should be forced to pay for their portion of the military budget that goes towards protecting oil supply chain and transportation.
jack: You certainly have a lot to learn. I’ll give you some free advice: Stop while you are ahead because you obviously have no clue about climate change.
OK dan…acid rain ozone hole global warming climate change…………these grifters have been singing this song for decades… wake up dan … you know if a lie is told long enough and loud enough fools willl believe it…….. i suppose you think our southern border is closed?
as should ICEVs. No hundreds of billions of dollars and thousands of lives every year on oil, and the hundreds of billions of dollars on car infrastructure. in a fair fight, cars (E and ICE) and planes lose to electric trains and buses.
As an EV owner, a Volt and now a Bolt, I totally agree. First, you have to have a tax liability of $7,500 or more to get this credit. Low income folks and retirees usually do not so it doesn’t help may folks. Secondly, both Tesla and GM have run out of tax incentives over the last couple of years. Neither can make EVs fast enough to meet demand so where is the pressing need to give away tax money? We received no tax rebates for either of our cars but that didn’t stop us from purchasing them. Free market should dictate car sales. On the other hand I have no problem with incentives for charging infrastructure. Much like subsidies for gas and oild exploration m
Perhaps the same should be said about gas and oil subsidies and federal land leases.
Just say it. Don’t say THAT it COULD be said. And add the most disgusting fossil fuel subsidy of all, sending young men to die in foreign countries to protect “our” resources, and the hundreds of billions of dollars a year to do that.
If that were the case, then Gasoline powered vehicles should have the buyers purchase the fuel on it’s own merits as well. We subsidize Oil Companies in billions of dollars. We have US troops stationed in oil rich countries that produce oil for the World Market. All of these are huge subsidies for oil companies. If we remove the troops from Saudi Arabia and stop subsidizing Oil Companies taxes, then we can talk about pulling dollars from consumers purchasing an EV.
Not a bad deal if it doesn’t burn ur house down.. : (……… I know, they’ll fix it by then. : ).. ?????
Already fixed.
That was LG’s fault, not Chevy or GM. On the other hand, Tesla makes their own batteries and suffered hundreds of battery fires, even killing their drivers. So who makes safer EVs? GM does.
Approximately 60 Tesla cars have caught fire since the brand introduced EVs. The older models contribute to the largest percentage of the Tesla vehicles which have caught fire in the past. Sep 20, 2022
There are now 32 recorded fatalities from Tesla fires.
Just a little research gave the above from at least 10 different sites.
Stop repeating nonsense.
Far more ICE vehicles than EVs. Over 3000 Hyundai and Kia fires lately. Lets keep this all in perspective
thanks i not sure Ev or the Euv one with supercruise
That’s a great price but how far could it go this morning at -12F actual and -34F windchill?
About 160 miles or so.
We have a 22 bolt EUV and at first it was a 250 mile range. As it got colder the range started to drop. It was 229 then 215 then 205 range. Today it is -20 below windchill and actually temp at 7 degrees F. Range is down to 189 after a complete charge.
Good real world information TY Tom. Question: how much does using the heater reduce the realized range? My understand it can be a significant reduction. Drivers are advised not to use the heater in cold weather to increase their EV’s range, but at the temperatures you mentioned that is not an option.
Like you said Paul you need to run the heater when it’s cold. With the total range being 189 that takes into account the last several drives you made in cold weather. I’d say for every 30 miles you go the heat would eat up 40 miles of range if that makes sense.
I bought my Bolt in 2017.Low temperatures in the winter here are usually in the 30’s and 40s, sometimes a bit below 30 degrees.
I mostly deal with these conditions by turning on the steering wheel heater. Seldom use the cabin heater other than to keep the windshield from fogging up.
My summertime range averages out to around 4.9-5.0 miles per Kw. But my winter range drops down to the low 4’s. My driving patterns in miles are roughly 60-65% city driving (stop and go, 40-45mph max); and the rest on the highways. Virtually all the time, I am driving in “L” to take maximum advantage of the regeneration factor. Bought in December 2017, I’ve driven 43k miles in five years of ownership.
My backup is a 2105 Ford Transit van I also bought new. I’m a commercial artist and use it for my sporadic work deliveries and long distance trips. Its seven years of driving total is a bit over 62k miles.
I feel I have the perfect setup for my situation – the smoothness and instant response of driving electric is always a treat; it’s both luxurious in its feel while sudden in its performance. I would not go back to ICE if buying a new car. Yet I am a car freak, appreciate the history, and have a small collection of cars from the 50’s and 60s to play around with.
Electrification has begun, and there is no use fighting it.
Carl: Probably farther than you will ever be driving in that cold. But if EV doesn’t work for you, don’t buy one.
Dan B: If you live in a one- party State like I do, the choice of not to buy an EV won’t be an option in 2035. The law has already been passed.
Gary: Nobody lives in a “one party state”. Even me in California, where there’s a lot more red than anyone understands.
Anyhow, 2035 is about 13 years away yet. At the rate climate change is going, we all might be lucky to be alive by then. (sarcasm). Even in 2035, you will still be able to purchase an ICE vehicle although it may be a heavy duty truck. But what’s the difference, everyone thinks we need to run to the bank and get our groceries in huge SUV’s and trucks now anyway.
As far as you want to take it.
Depends if the wind is pushing or from the front. Wind chill does not effect cars.
more importantly is how much less it costs to go the 1,000,000 miles the vehicle is useful for vs a comparable ICEV. You can rent different cars, even trucks, for the 1-10 times per year you have different use cases that merit different vehicles. Road trips in certain places make sense to rent ICEV. If you want performance, rent a Tesla or V10/V12 performance car for a day. To get groceries, commute, and shuttle kids around, drive a Corolla or Bolt. You’ll be richer, happier, and save gobs of time.
As far as you want to go. Bye bye troll.
This is a real Tesla killer, since Musk will NEVER sell any new model costing below $50,000. And this offer also kills all the Asian EV offers.
This didn’t age well. New Model 3 is 44k before any credits
guess you were wrong on that , Tesla is killing legacy car sales with this price drop
Does anyone know if our 22 Bolt EUV qualifies for a tax credit this year?? Since the 22 Bolt is $6300 over the 23 Bolt, GM gave us that rebate up front.
Can’t seem to find any tax information that says yes or no to the Tax credit for this year.
Bolt EV/EUV qualifies for a tax credit after 1/1/2023
Tom and Jason: I second that. No GM EV’s are eligible till after Jan 1st. of 2023. From the looks of it, it will get the full $7,500 for Jan/Feb only.
I see the 2023 Bolt EV is eligible… but I don’t see anything on the 2023 EUV. Thoughts?
https://afdc.energy.gov/laws/electric-vehicles-for-tax-credit
No. GM vehicles purchased in 2022 don’t get a credit.
Will the Bolt be eligible for half of the Tax Credit since it is built in America?
Yes, EV cars must be built in US.
Bolt EV/EUV could be eligible full tax credit ($7500) before March 2023
Requirement is for final assembly in North America, not USA.
Having ordered my Bolt two months ago, it’s scheduled to come in by Jan 15th. That’s good news in a way, but my problem (good one to have) is that I won’t have a tax burden. In other words, even with standardized deductions, I will still end up with a refund. So it won’t matter to myself or others like me if the tax credit is $3,750 or $7,500. It just won’t make any difference.
In the past when GM still had these credits, you could lease the car and they took the $7,500 off the lease almost like a down payment. So the real question for me is this: Will I be able to take advantage of the $7,500 next month and have it applied to a lease? If yes, then I’m certainly taking the car. If not, then I will need to look at the numbers to see if it’s worth it for me. I’m not very interested in giving up my Malibu, so to do that I’m going to need a Bolt deal that looks really good.
Would recommend talking to a tax professional to check your particular circumstances, but just because you get a refund, doesn’t mean you can’t take advantage of the EV tax credit.
If you paid say $10k in taxes during the year through withholdings, but after filing taxes, you only owed $7500, due to deductions, you would get back $2,500. If you bought a qualifying EV, your tax liability drops by $7,500 to $0. But since you paid $10k during the year, you get a $10k refund.
rEVolutionary: Thank you so much for that clarification. And you are 100% correct. I really must speak with my tax preparation specialist to see what may be best for me personally.
When my wife and I bought our 2019 Chevy Bolt ,we used withdrawals from our IRA’s to increase our owed taxes.
We zeroed out our owed taxes to zero by using the full rebate. Also Peaky Blinker comment on headwinds & tailwinds is very true. On a flat straight section of road our energy usage doubled from 55mph to 70 mph. Wind has the same effect.
Good luck getting your Bolt in January. I ordered mine a month before you here in Montreal and was told it would be a minimum of a years wait. If you do get it please let us know.
Got mine without the the public subsidizing my purchase under 22k. And pretty much a brand new ride once my battery is replaced at 100k miles. Solid deal if you ask me
Just for the record, my one party state has a Democrat governor elect. Out of 144 state reps there are 12 Republicans. Out of 40 state senators 3 are Republicans. Our whole U.S. congressional delegation is Democrat. We in MA might have CA beat.
I would move!
I really want to see if GM keeps the money on the hood. If so then I can see why they increased production numbers.
1/2 the credit ($3750) is if a certain percentage of the battery components are built in North America.
1/2 the credit ($3750) is if a certain percentage of the critical battery minerals are sourced from USA or countries the USA has a free trade agreement with.
To even qualify for anything, the EV has to have final assembly in North America.
The Bolt final assembly is in Michigan. The battery packs and cells are built in Michigan. So should at least qualify for $3,750, and GM has said as much.
We are not sure if it will meet the threshold percentages for the critical battery minerals yet. But the delay of the published rules means the $$ value will be based on the battery size and not the sourcing requirements, until the treasury publishes those rules, which they have said won’t be till March at the earliest.
So after Jan 1st, Bolt should qualify for $7500, until about March. Then might drop to $3,750, or GM will have been able to adjust mineral supply chain sources to qualify for the full amount.
Have a dealer with a 2022 Bolt EUV who is willing to delay delivery until after 1/1/23. I assume that the tax credit eligibility isn’t dependent on model year, but only on “made in North America” and date in service, correct? I can’t find anything on point, but I think that the ‘22 Bolt EUV would be eligible since I won’t take delivery until 2023.
Pbarg: To clarify, this 2022 EUV still has the higher MSRP? So for now GM is giving the EUV Bolt that $6,300 off, correct?
Can your dealer confirm that you will still get that $6,300 after the 1st along with the tax credit? I’d be careful on that one as you wouldn’t want to miss that incentive.
Yes, confirmed. It’s going to be the old MSRP minus the $6300 (and I’m also getting $500 for the military appreciation discount too).
battery powered cars may work in the future, but the present group are like the model A Ford of the early 1900″s…. they need a lot of improvement over the next 20 years to be a serious contender,,,,, these grifters promoting battery cars have been lying about acid rain ozone hole global warming, climate change for at least 50 years …… i..recently read where lakes are turniing to acid water killing the fish…. lord only knows what they will come with next.
Care to post any of those articles , otherwise I call bs?
glen you just need ti read the newspaper; the sports section isn’t going to tell you a lot of what’s going on in the world, and quit watching NBC CBS ABC MSNBC CNN, they wll i tell you only what they want you tio know, which is usually hoe bad Trump is
“The newspaper” is literally NBC CBS ABC MSNBC CNN, plus NYT and WP. Wtf are you talking about? Glen challenged you to source your claims, and YOU have the burden of proof. Don’t tell him to “read the newspaper”. ” Do your own research” is a logical fallacy. Source your claims when you make them and someone challenges them, or stfu. You are a piece of trash. Think better. Discuss correctly.
Think if glen had made the claim “trump is very bad”, and YOU had challenged him to share articles supporting HIS claim or YOU’D call bs. See? You’re arguing in bad faith. Make a claim, get challenged, show your sources, or stfu and gtfo.
occasionally the far left news will let their guard down … The Associated Press , which is as far left as they come had the article about lakes having acid water killing fish………. you gotta read more than the headlines Tom, check the middle pages where they like to hide things, knowing folks like you will never read that far into the paper
Won’t be 20 years, once any tech gets to 10% of sales, then it takes off fast, it’s called the ‘ S ‘ curve, not sure what our country’s number is , but we are close , look back over history, every new tech has followed the. S CURVE
You all seem so worried about EV owners paying their fair share in gas tax for road maintenance but do not mention cold weather states where roads often freeze and create much more maintenance work than warm weather states. Those states should pay more i taxes as well as semi truck companies that leave shredded tires all over the highways. We can go in and on all day about “fair share”.
It’s only big trucks that cause essentially 100% of road wear that makes maintenance necessary. Even in places that freeze and thaw, the cracks that get expanded by heaving when water freezes are only there because of the biggest trucks. The rate of crack formation in road surfaces is proportional to the pressure the vehicle is exerting ^4. The pressure a vehicle exerts on the road surface is its weight divided by its tires’ contact area. So it ends up being only huge trucks causing all the damage. Charging chevy bolt owners for road maintenance is like charging bicyclists for road maintenance. They are responsible for 0% of the wear.
Tom big trucks pay exorbitant fees to use the highway system, even the license tag fees are divided among the states, and tag fees usually run around $1500, excise taxes on tires, high tax on fuel usually double the gas tax, , . how about $125 to cross the George Washington bridge?
Your definition of exorbitant is different from mine. I think “fair” is trucks pay for 100% of maintenance…because they cause 100% of the damage that makes maintenance necessary. “Exorbitant” to me is excessive, or in excess of fairness, which “trucks” don’t pay. (It’s obviously people who benefit from trucks, not the trucks.) And no amount of “gas tax” is “exorbitant”, much less even “fair”. You can’t pay enough for burning fossil fuels for convenience today. People who burn fossil fuels for convenience (all gas and diesel users) aren’t paying market prices, because the market doesn’t include all the future people, and they aren’t paying market prices because they aren’t paying for global warming, pollution, lung damage, birth defects, etc. We very recently had leaded gasoline… probably made a whole generation stupid, and nobody paid for those harms with their “gas taxes”. The same is true today. Not to mention, we fight wars which cost money, time, and lives, all to protect “our” assets in the Middle East. Fk that. Use electricity to power mass transit. Don’t send our kids to die in Iraq, Afghanistan, Kuwait, etc just so you can deliver a truckload of d!ldos a little more conveniently today. Don’t doom present and future humans to displacement, more severe weather, and more asthma just so you can sit on your @ss in a little bubble to drive to the gym to walk on a treadmill!
Well said Tom.
yea ketch those folks that used leaded gas were so stupid????….. actually, they developed almost everything available today… certainly most things have been improved but the leaded gas gang did the hard work
Some did. Just think how much more/better they could have done without the mean IQ being artificially depressed by leaded gas. You’re obviously a troll, defending leaded gas, which is well-known to cause birth defects, which is exactly why we outlawed it.
sorry Tom but i have to say you are a typical greenie moron……hopefully you live in the northeast paying $7 a gallon for heating oil to stay warn\m this winter… your “global warming” hit minus 70 degrees in Montana and gave Buffalo NY 6 feet of snow….. what is your response to that? climate change? wake up Tom, …grifters have suckered you
You’re not sorry. You’re attacking ME because you know WHAT I’M SAYING is correct! Call me names all you want. I’m “a moron”, but what I’m saying is right, and what you’re saying is wrong, which is what matters.
Climate change destabilizes the polar vortex. We (rational people) expect MORE extreme WEATHER (both hot AND cold) when CLIMATE (which is not weather, even though you don’t know the difference) changes (gets hotter). More total energy (heat) in the atmosphere means polar vortex will dip down into moderate latitudes MORE frequently and for LONGER. The surface mean temperature of Earth is getting hotter, and doing so at a very fast rate (the fastest) relative to history. It can’t be proven it’s caused by humans, but it’s insane to contribute to heating the Earth so fast for a little short-term convenience and comfort. Be smarter. You’re clearly a moron.
so climate change only affects parts of the earth? it certainly hasn’t changed the climate where i live. summers are hot and winters are cold. no records are set in the summer, none are set in the winter’ ‘no matter what the high or loe temp for the date, its been hotter and colder before and many times….. and since only the USA is making an attempt to defeat ” “climate change” seems futile to me ..the only winners are the grifters
Maybe the amount of electricity used at charging station can be taxed when charging electric cars. ? I would suggest that that not be done for some time in the future and that the tax rate be modest. Everyone should pay their fair share and the money collected should go to highway funds. When electric cars are charged at home there is already a tax on ur electric bill in most places. The electric companies can kick back some of that to highway funds……
It’s possible, but stupid. Cars cause essentially no damage to roads. It’s essentially 100% trucks. Because damage is proportional to the pressure a vehicle puts on the road to the 4th power.
Everyone should pay their fair share, indeed. Let trucks pay for 100% of road maintenance. Let ICEVs pay for war in Iraq, Afghanistan, Kuwait, etc, and pay full price for oil, no hundreds of billions of tax subsidies for fossil fuels.
Is it possible that the Bolt is harder to get in Canada. ????? Anyone know if they’re readily avaiable in the States.. ?????
The Bolt is harder to get here in Montreal. My dealer said 1 year wait. People on here have said that they see Bolts at dealerships in US that seem to not be selling. True or false I don’t know. I am looking into dealers in New York state and Vermont.
Hmm … “If” and “could” are too akin to “wish” and “hope” for liking
Electric is here folks, its just like when cars replaced horses and cell phones replaced land lines. Get off the trump dilusions and his craziness about climate change and windmills.
You really support a criminal crime family who made 1.7 BILLIONS dollars off being president and wants to be a dictator? Wow , talk about drinking the kool-aid, his administration has had 275 people indited for crimes, go live in Russia if you want to live with a dictator