California Dreaming: Brand New Chevy Bolt EV Can Be Had for $8,000 USD
Production of the Chevrolet Bolt EV ended in late December of last year, but some brand new units are still waiting to be sold in parts of Canada. Even more can be found in the U.S., where demand for EVs has cooled off, resulting in some pretty unbelievable deals.
One of the best examples is California, where the electric hatchback can be purchased as new for as low as $8,000 USD, the equivalent of just over $10,000 CAD. How is that possible? Three different incentives help bring down the price massively for qualified customers.
As reported by EV Life, the first one is the federal EV tax credit of $7,500, which can now be applied at the point of sale in the form of a discount.
Next, California’s Clean Cars 4 All program allows low-income buyers to trade in a 2005-or-older ICE-powered vehicle and get a rebate of $9,500 toward the purchase of a new or used EV or plug-in hybrid, including the Bolt EV. Similarly, the Bureau of Automotive Repair offers $1,500 to retire dirty vehicles from the road.
If you do the math, a customer that qualifies for all three incentives—there aren’t too many of them, granted—would see the price of a new 2023 Chevrolet Bolt EV drop from $26,500 to just $8,000. Can you imagine that?
Additionally, an online inventory search conducted by GM Authority has revealed that several hundred units are still available across California.
General Motors, remember, has confirmed plans for a next-generation Chevrolet Bolt EV in 2025, likely as a 2026 model. However, the launch could be delayed as the automaker continues to revise its EV strategy in the face of uncertain demand in the U.S. and works to bring back PHEVs to the lineup.
The future Bolt EV, to be built on the Ultium platform unlike its predecessor, will use a lithium iron phosphate (LFP) battery and be manufactured at a lower cost. Drivers can expect longer range and, more importantly, faster charging speeds. Will AWD finally be available as an option? It’s not impossible, but GM’s main focus is to offer an affordable product.
