![]() ![]() ![]() Market holidays and trading hours provided by Copp Clark Limited. There may be further savings offered at the state level and by General Motors to keep the Bolt EV’s price competitive. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. The all-electric 2021 Chevrolet Bolt EV hatchback can cover 259 miles, a class best. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. ![]() Your CNN account Log in to your CNN account GM declined to say if the Bolt would be profitable with the new price decrease. The US economy has seen record inflation this year, with sharp price hikes on many goods, including cars, making GM’s decision all the more surprising. Prices for critical metals like lithium, nickel and cobalt have spiked in the last year.įord has raised the price on its electric vehicle, the Mustang Mach-E, and Rivian has hiked prices on its vehicles. In a March tweet, Tesla CEO Elon Musk pointed to “significant recent inflation pressure in raw materials and logistics” as the reason for the price increase. The Model 3’s price has increased 34% from three years ago. Chevrolet is including dealer freight charges in the Bolt’s base price. Tesla’s cheapest vehicle, the Model 3, sells for $46,990, and reaches $48,440 after fees, some of which are industry standard. The Bolt’s new pricing may attract interest from buyers who can’t afford other electric vehicles. The 2023 Bolt EUV starts at $28,195, a $6,300 drop from its previous price.īalch said GM is committed to producing a record amount of Bolt vehicles this year. “Affordability has always been a priority for these vehicles,” Balch said. GM lowered the prices to make sure the Bolt vehicles are competitive in the marketplace, spokesperson Shad Balch said. But sales slumped and have been generally flat, with GM selling a combined 24,828 Bolt sedans and crossovers in 2022. GM introduced the Bolt sedan in 2016 and sold 23,297 units in 2017. GM introduced a Bolt crossover, known as the Bolt EUV, in 2022. GM halted production of the Bolt in September 2021 as it worked with LG to prioritize batteries for recalled vehicles, but the company restarted the assembly line in early April 2022. A series of fires triggered the recall, which was among the most expensive ever on a per-vehicle basis. GM’s electric vehicle push has been hampered by a recall of Bolt batteries, which led to supplier LG paying it $1.9 billion last year. The Bolt’s price has fallen 27% from the 2020 model, which it sold for $36,620. The Bolt’s new price slightly undercuts the electric Nissan Leaf, which has a suggested retail price of $27,400. General Motors announced Wednesday that it’s cut the price of the most affordable Chevrolet Bolt to $26,595, making it the cheapest electric vehicle in the US. ![]()
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