The 2023 Chevy Bolt EV is the seventh model year for the nameplate’s first generation, following up on the refreshed 2022 model year with only a few changes and updates. Now, however, GM Authority has learned that the 2023 Chevy Bolt EV just received a price increase.
According to sources familiar with the matter, General Motors just applied a price increase to the 2023 Chevy Bolt EV, effective January 2nd, 2023. The price increase affects both trim levels and raises the vehicle’s MSRP by $900 across the board.
As such, the base-model 2023 Chevy Bolt EV 1LT is now priced at $27,495, up from $26,595 prior to the most-recent pricing increase. The top 2023 Chevy Bolt EV 2LT is now $30,695, up from $29,795 prior to the price increase. Note that both prices include a destination freight charge (DFC) of $995.
|Trim Level||2023 MSRP + DFC|
Notably, the 2023 Chevy Bolt EV may be eligible for a $7,500 federal EV tax credit, per last year’s Inflation Reduction Act, which was passed in August. Assuming the 2023 Chevy Bolt EV is eligible for the full $7,500 tax credit, that price could effectively drop to $19,995 for 1LT trim levels, and $23,195 for 2LT trim levels. Indeed, with the potential tax credit factored in, a starting price under the $20,000-mark makes the new 2023 Chevy Bolt EV that much more attractive.
Critically, the 2023 Chevy Bolt EV also got a substantial price drop over the summer, with GM cutting MSRP by $5,900 for both trim levels in June. Prior to last year’s price cut, 1LT trim levels started at $32,495, while 2LT trim levels started at $35,695.
Compared to the refreshed 2022 model year, the 2023 Chevy Bolt EV introduces a new exterior paint lineup, with Radiant Red Tintcoat joining the list as a replacement for the outgoing Cherry Red Metallic paint color.
Under the skin, the Chevy Bolt EV rides on the GM BEV2 platform, and includes a single front-mounted electric motor that produces 200 horsepower and 266 pound-feet of torque, providing an estimated 259 miles of range. Production takes place at the GM Lake Orion plant in Michigan.