Autos

Chevy Cuts Price of Bolt EV by $11,000

Electric cars are supposed to be popular. Tesla shipments last year reached 500,000 and the company expects that number to rise by 50% this year. The Ford Motor Company’s Mustang Mach-E has a waiting list. Almost every major car manufacturer in the world expects a large portion of their fleets to be mostly or completely electric by 2030. General Motors has plans as aggressive as any other car company to turn its models electric, or replace them with new electric cars. However, for the time being, its primary horse in the race is the Chevy Bolt EV. The demand for the car has been brisk. Nevertheless, it is being offered at a discount of over $11,000 and that is 27% off the MSRP.

Car research website Edmunds keeps a monthly list of the best car deals. The “Top Car, Truck and SUV Discounts for March” includes the Chevy Bolt EV with a discount of $11,190 (-27%). The MSRP for the Bolt is $41,310. Edmunds has good things to say about the Bolt: “The Chevrolet Bolt is a solid electric vehicle, especially with its 259 miles of range. It solves many of the qualms that EV shoppers have traditionally held.”

Chevy Bolt EV sales rose last year, according to the Car Sales Base, to 20,754 from 16,418 in 2019. Sales for the final quarter of the year also rose from the same period in 2019 to 6,701 from 3,307. Business Insider speculated that discount deals may be the primary reason for the increase.

The efforts to sell the Bolt are more aggressive than simple discounts. According to CNET, “GM will pay to install a Level 2 EV charger at your house, including an appropriate NEMA 14-50 outlet and labor.” While the report did not say how much the program costs GM, the process cannot be inexpensive.

Outsiders are left to speculate about GM’s Chevy Bolt EV plans are. GM may want to build market share for the Bolt ahead of EV onslaughts from Volkswagen, Toyota, Hyundai, BMW, and Porsche. The market demand for electric vehicles will need to surge to accommodate strong sales for all of the competition. Each of the global companies has substantial marketing capacity and large dealership networks. And, looming over all the new EVs is Tesla which holds the pole position in the U.S. market.

Whatever the reason, potential Bolt buyers can get an unusually low-priced deal.

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