The 2022 Chevrolet Bolt EV is getting a substantial price cut, along with updates inside and out. But if you don't want to wait for the updated model's launch, the 2021 Chevrolet Bolt EV remains a great deal, according to our partner site CarsDirect. And if the EUV has caught your attention, you might like seeing how some of the pricing math works out versus the most affordable Ford Mustang Mach-E.
Chevy increased discounts for the 2021 Bolt EV just ahead of the 2022 model's unveiling last week. A bulletin sent to dealers February 9 said the 2021 Bolt EV is getting an $8,500 cash incentive, up from $5,000 earlier this month, according to CarsDirect.
The 2021 Bolt EV also recently became eligible for General Motors employee pricing, a discount of more than $11,000 on the higher-level Premier model.
2021 Ford Mustang Mach-E
That's not all, though. The 2021 Ford Mustang Mach-E, which is priced at $10,000 above the extended-length Bolt EUV, can land at exactly the same price as the EUV if you count the $7,500 federal EV tax credit Ford buyers still qualify for, plus a $2,500 incentive from Ford Credit. If you take a particular path with financing, it's the same price—and to GCR, it hardly looks like an apples-to-apples comparison.
The Bolt EV incentives could be an attempt by GM to clear out inventory of 2021 models ahead of the 2022 Bolt EV's arrival. The new model starts at $31,995, representing a $5,500 price cut at the base level (Chevy has suggested it will be more than $5,000 across the lineup). That compensates for the phaseout of the $7,500 federal EV tax credit, which previous Bolt EV pricing accounted for.
2021 Chevrolet Bolt EV
The Bolt EV has attracted plenty of discounts and incentives over the past year.
Chevy has been offering 0% financing on used Bolt EVs—some of which are affected by a battery advisory.
Earlier last year, the Bolt EV was offered an under-$200-per-month lease deal for Costco members, and leading up to the expiration of the EV tax credit last spring (when it was just $1,875 for the automaker), GM was offering up to $10,000 off MSRP.
The 2022 Bolt EV gets new exterior styling and a redesigned interior, but its 259-mile range is expected to remain the same. Chevy is also adding the Bolt EUV crossover variant to the lineup. The EUV has less range (250 miles) and a higher base price ($33,995) than the standard Bolt EV, and doesn't offer all-wheel drive, but will be the first non-Cadillac model to get GM's Super Cruise driver-assist system.