As new EVs go, the Chevy Bolt is a steal. Meanwhile, Tesla continues to raises the price on its best-selling models.
The Model Y is indisputably the hottest electric car in the U.S., with Tesla posting record sales in the second quarter for the Model 3 and Model Y combined. The Bolt also showed strong U.S. sales in the second quarter after ranking as the third best-selling EV in the first quarter behind the Model Y and Model 3.
While the 2021 Bolt is the same design as the original 2017, GM overhauled the 2022 Bolt EV and introduced an entirely new Bolt EUV model (see image above).
So, how does pricing stack up?
- Model Y — $52,990*: The Model Y Long Range (cheapest variant) is now priced at $52,990, a $3,000 price increase from earlier this year. It comes with dual motors and all wheel drive.
- Model 3 — $39,990*: The Tesla Model 3 Standard Range Plus (cheapest variant) is priced at $39,990, a $3,000 price hike from $36,990 earlier this year.
- 2021 Chevy Bolt EV: typically below $28,000. See these TrueCar listings.
- 2022 Chevy Bolt EV — about $32,000 starting price: the 2022 Chevy Bolt EV is hitting dealer lots now.
- 2022 Chevy Bolt EUV — about $34,000 starting price: the slightly larger Chevy Bolt EUV is also hitting dealer lots now. It offers a few more features than the Bolt EV including GM’s Super Cruise hands-free driving.
—Model 3 Standard Range Plus: 263 miles
—Model Y Long Range Plus: 326 miles.
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—Chevy Bolt EV: 259 miles.
—Bolt EUV: 247 miles.
MPGe: The Model 3 has a combined EPA-rated 134 MPGe**, the Model Y 125 MPGe, the Bolt 118, the Bolt EUV 115.
Federal tax credit: neither the Tesla models nor Chevy Bolt qualify for federal tax credit as Tesla and GM have surpassed the maximum number for qualification. But they do qualify for state incentives, which in some cases can be substantial (e.g., California).
Why is this happening?
There is a major model year update for 2022: the existing Bolt is getting a makeover and Chevy is introducing the all-new Bolt EUV.
That’s why you’re seeing 2021 Bolts priced to move.
But what’s different this time is, pricing on the 2022 Bolt is a lot lower, starting at $31,995. That’s roughly $5,500 off the MSRP for the current base model. And the slightly larger 2022 Chevrolet Bolt EUV, starts at $33,995.
The 2022 Bolts will include options such as adaptive cruise control and GM’s Super Cruise (hands-free-driving) tech — both firsts for the Bolt.
Model 3 and Model Y:
The Model 3/Y price hikes, on the other hand, are a mystery since Tesla doesn’t respond to media queries these days. And it should be noted that Tesla has also dropped the price of the Model 3 and Model Y. That happened earlier this year. That said, year to date, there has been a net increase.
*Price as of July 2021. Tesla changes prices often.
**MPGe: how far a car will travel on the equivalent of one gallon of gas.
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