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GM Won’t Cut Chevy Bolt Price Amid Lower Tax Incentive

Discussion in 'Electric Vehicles' started by TMC Staff, Mar 29, 2019.

  1. TMC Staff

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    The Bolt won’t follow Tesla in a price war as its federal EV tax credit gets cut in half There will soon be less incentive to buy a Chevrolet Bolt. On April 1, the U.S. tax credit for General Motors‘ battery electric vehicle will be cut in half, from $7,500 to $3,750 as the automaker...
    READ FULL ARTICLE
     
  2. azred

    azred Active Member

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    They are selling so few anyway, I am sure the company has bigger fish to fry than the Bolt. Perhaps they will eventually have real competition for Tesla Model 3 that doesn’t come packaged as a fugly econobox.
     
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  3. steelydev

    steelydev New Member

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    Not only that, I went to my local Bolt dealer (not all Chevy dealers can sell the Bolt) and asked about a lease so they could pass the tax incentive to me. They would not subtract the $7500 from the lease deal. They would only give me $4250. So I had to walk. Ford gave me the $7500. Hyundai gave me the $7500. VW gave me the $7500.
     
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  4. jkoya

    jkoya NA2 NSX

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    The local Chevy dealer, for this weekend only, is discounting inventory Bolts by $9300 before incentives.
     
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  5. ewoodrick

    ewoodrick Well-Known Member

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    Whoever you talked to was an idiot. They will get the credit.
     
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  6. ewoodrick

    ewoodrick Well-Known Member

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    If everyone would read the article, they aren't adjusting the list price, but they will be reducing the selling price. Tesla has an essentially one price purchase, GM has a list price, which is seldom the price that the car is sold at. They'll just start providing larger rebates to the dealers to offset the differential.
     
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  7. fbitz777

    fbitz777 Member

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    Bought my second Bolt today for 11k off MSRP...that dealer sold over 20 of them in 2 days.

    As a matter of fact I traded my '17 for a '19 and it was a zero cost to me after the tax credit and PA incentive

    I wish I could do the same with my '17 X75.

    IMG_8505.jpg
     
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  8. srs5694

    srs5694 Active Member

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    I test-drove a Chevy Bolt the same day I test-drove a Tesla Model 3. I came away with a slightly better impression of the Bolt than I had going in, whereas my impression of the Tesla was about the same (maybe a little lower in one or two areas). I ultimately went for the Tesla because of its vastly better DC fast charging capabilities and software upgradability, but the Bolt is a good car. I hope you enjoy it!
     
  9. EV-lutioin

    EV-lutioin Active Member

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    Bitchin' color! Well played.
     
  10. jkoya

    jkoya NA2 NSX

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    Is that Bolt Shock green ? That color looks awesome on the Bolt !!
     
  11. cwerdna

    cwerdna Active Member

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    Yes.
     
  12. steelydev

    steelydev New Member

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    I know. Both the salesperson on the floor and the general manager claimed GM leasing set the terms and they could do nothing about it. When I called to set up the test drive I specifically asked if leasing would kick thru the $7500. (I don't make enough money to pay $7500 in fed taxes) They told me yes and then when I got there it was only $4250. So GM leasing (or the dealer) (who do you believe) is getting $3000.
     
  13. ItsNotAboutTheMoney

    ItsNotAboutTheMoney Well-Known Member

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    #13 ItsNotAboutTheMoney, Mar 31, 2019
    Last edited: Mar 31, 2019
    Ironic post. ;)

    The poster meant that either the $7,500 is not fully deducted from the payments, or that the $7,500 is deducted from the residual, rather than the lease payments. I believe Tesla is similarly stingy as well, because they recognize that the value will be relatively low at the end of the lease, and the lessee will almost certainly walk away from the vehicle.

    Realistically, if a leasing company is passing through the whole $7,500, the manufacturer is heavily subsidizing the lease.

    This is not the time of year for good lease deals. The BEV lease deals come later in the year when the manufacturers know better what ZEV credits they need to earn and they need to move inventory. You are much more likely to get good deals on purchase of holdovers.
     
  14. twonius

    twonius Member

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    Wow. I just checked used values around me and there's a few CPOs with 30k miles on them for $27k. Seems a bit high considering. I would've expected to see at least a few in the low 20's high teens. but nope.
     
  15. srs5694

    srs5694 Active Member

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    I seem to recall seeing news stories recently about how EVs in general are holding their values better than they used to. (I'm afraid I didn't save any URLs, though.) The fact that GM, like Tesla, is in the sunset period for its tax credits may have something to do with this.
     
  16. twonius

    twonius Member

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    Yeah seems like a combination of the end of truly crazy lease deals ($99 eGolfs) and cars finally packing more usable range (200 miles). Although you can still get Leafs at CarMax all day for $7500 which is kind of a screaming deal.

    At least we're starting to see at least some EV for every budget
    <10k - leaf
    10-20k - i3
    20-30k - Bolt, Leaf
    30-40k - M3, Kona / Niro
    40-50k - M3 LR
    60k+ - iPace, ETron, S/X etc. etc.
     

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