GM Chevy Bolt EV, EUV 2023 Price Increase: Here's How Much

Due to rising production costs, GM's (GM) Chevy Bolt electric car (EV) and electric utility vehicle (EUV) are seeing price rises. The price increase appears to be less than anticipated, though. Surprisingly, the increase is less than $1,000. According to the reports. GM said that when we ring in the new year, the pricing of the 2023 Chevy Bolt EV and EUV would increase. The increase is substantially smaller than the average price increase experienced by other EV manufactures, the online news source states in its research. Months after the major carmaker drastically reduced the Bolt's price by $6,000, there has been a recent price rise. In fact, the increase is negligible in comparison to how much it dropped in the middle of last year. [caption id="" align="aligncenter" width="1400"] Image credit- Electrek[/caption] The price rise is less than $1,000, roughly between $900 and $600. More specifically, the 2023 Chevy Bolt EV now has a $26,500 beginning price. It is a nearly $900 increase above the $25,600 asking price. However, the Bolt EUV's starting price has increased by a mere $600, to $27,800. So, compared to its sibling, the EUV receives a smaller boost.

What Made GM Increase Bolt Prices?

A spokesman from Chevy allegedly placed the blame on the Bolt EV and EUV production expenses in a Car and Driver news report. The spokesman for Chevy claims that the price increase is "caused by persistent industry-related pricing pressures." The Chevy Bolt EV and EUV will therefore start to witness slight price rises in 2023. [caption id="attachment_79055" align="alignright" width="1200"] Image: electrek[/caption] However, the American manufacturer is nonetheless certain that the Bolt will continue to be "America's most affordable EV." The spokesman continued by saying "Chevrolet is still dedicated to playing its long-standing role of offering genuine value. We anticipate maintaining the record-breaking sales trend from 2022."

Still Eligible for New Tax Credit: Bolt EV and EUV

The Bolt EV and EUV still qualify for the new EV tax credit because to the fact that the price increase was fairly "moderate." According to Car and Driver, the IRS sets a price cap of $55,000 for EVs to qualify for the $7,500 credit. As a result, the Bolt—which still begins below the limit—is now eligible for the new incentive. Due to the additional tax credit, purchasers will still be able to purchase the Bolt EV and EUV for a lower price even with the modest rise in 2023.