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Chevrolet cuts prices for 2023 Bolt EV and EUV, boosts ad spending

The Bolt is back, and it’s cheaper than ever. GM resumed Bolt production in April following a major battery recall last August. Now the company says it will cut prices on the Bolt EV and EUV by up to 18%, and plans to build a record number of units this year.

The 2023 Chevy Bolt EV will start at $26,595, including destination charges, down from $32,495. The Bolt EUV starts at $28,195, down from $35,695. Production of the 2023 models is slated to begin at the GM Lake Orion plant in Michigan in late July.

The Bolt EV was launched in 2016, and sales hit a high of 24,828 vehicles in 2021.

The Bolt EV and EUV were each given a major refresh for the 2022 models, and GM says there will be only minor updates for 2023. Each sports a 200 hp, 266 lb-ft motor on the front wheels, and a 65 kWh battery pack that delivers a range of 259 miles for the Bolt EV and 247 miles for the Bolt EUV.

The 2022 model benefitted from a $5,500 price cut compared to the 2021 model. The latest reduction is a rare bit of good news for car buyers, as the average price of a new vehicle in the US vicinity has soared to around $45,000.

More welcome news: Chevrolet says the Bolt EUV will have the second-highest ad spend this year, behind only Silverado electric pickup.

“This change reflects our ongoing desire to make sure Bolt EV/EUV are competitive in the marketplace,” GM said. “Affordability has always been a priority for these vehicles.”

Sources: GM Authority, Reuters, Green Car Reports

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